The NSW Premier has warned Sydney's The Star casino its doors are "likely to close" in two weeks if it does not comply with a court order to explain why it should not be shut down.
The stern warning from Dominic Perrottet came a day after The Star Entertainment Group was found unsuitable to operate its casino in Sydney after a damning inquiry into the company.
"Star has been absolutely horrendous, they've got 14 days to respond to that report and if they don't comply, they're likely to close," Mr Perrottet said today.
"There is no place for anybody in any organisation particularly casino's to not be complying with the regulations in place."
The company was issued a show clause notice by the NSW Independent Casino Commission yesterday after it released the report by Adam Bell SC who conducted the lengthy inquiry.
Money laundering, fraud, foreign interference, and criminal organisations were allowed to infiltrate the casino for years, according to chief commissioner Philip Crawford.
But with the state government gaining hundreds of millions in tax revenue per year, from casino operators like The Star, some fear the penalties will not send a clear message.
Independent MP Andrew Wilkie has called for a national casino regulator that works closely with federal bodies like Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Australian Federal Police (AFP).
"There's just going to be some fines, a bit of clean-up and everyone will get on with things because governments, and this is the other layer of the problem, governments are too cosy with these companies," Mr Wilkie said.
"Governments are too interested in the fact that they are major single site employers that they generate a major amount of tax revenue for state and territory governments."
Prime Minister Anthony Albanese has ruled out imposing tougher national regulations on the country's two largest casino operators.
"These are state operated regulators and it's up to the states to respond to that. But quite clearly what we've seen is regulators taking strong action and foreshadowing further strong action," he said today.
"I think it's pretty obvious that the state regulators are doing a pretty good job of holding the casino operators to account. That's my observation. I'm not in favour of regulation for the sake of it and I think it's pretty hard to argue that Crown or Star are not being held to account at the moment."
Mr Crawford yesterday said the report made for "sad reading" and detailed The Star's "scant regard" for harm minimisation.
"The institutional arrogance of this company has been breathtaking," he said.
"And their willingness to take risks in pursuit of financial goals has been appalling.
"Our major concern with regard to the Star remains its culture. There doesn't seem to be any short-term fix."
