Star Entertainment appoints new Chief Risk Officer

Star Entertainment Group has announced the appointment of Scott Saunders to fill in the role of Chief Risk Officer as the company seeks to regain the trust of state gambling regulators.

Saunders is a former financial crime and compliance officer of Westpac. Given Star Entertainment’s recent woes, it is not surprising that the company has opted for someone with experience in dealing with fraud cases and navigating regulatory frameworks.

A recent inquiry deemed The Star Sydney unsuitable to hold a casino licence in New South Wales, while another found the operator’s two Queensland venues — The Star Gold Coast and Treasury Brisbane — similarly lacking.

In both cases, the casinos were accused of accused of anti money laundering and counter terrorism financing (AML/CTF) compliance failures, allowing the illegal use of China UnionPay cards, and dealing with illicit junket companies.

READ: Star Entertainment issued show-cause notice by OLGR

In the wake of the inquiries, a drove of senior executives left Star, thus necessitating the need for new hires like Saunders even as the company tries to get regulatory approval. 

Saunders’ appointment comes after Star announced it was collating the results of legal cases being filed against it. The class actions against the group are claiming the company misrepresented its AML/CTF compliance to stakeholders.

Speaking on the hiring of Saunders, Star’s recently appointed Managing Director and CEO, Robbie Cooke, said, “I am pleased to welcome Scott to this new role at Star. He has started today and will play an integral role in returning The Star to suitability and earning back the trust and confidence of our regulators and other stakeholders.”

He added that the group was “singularly focused on working with our regulators and the NSW Manager and Queensland Special Manager to remediate our businesses”.

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