Shares open higher; Star given last chance to turn around Sydney casino culture; Ramsay Health Care lifts dividend; Downer EDI swings to profit; July retail sales ahead. Follow updates here.
Star Entertainment’s executives “failed to provide the necessary leadership and oversight”, with ousted chief executive Robbie Cooke responsible for management’s “dysfunctional state”. That’s the findings of a review commissioned by the NSW casino regulator and made public today.
chief commissioner Philip Crawford said the latest Bell report has validated concerns that led to the inquiry. The report found four compliance breaches, which were related to the falsification of welfare checks on customers, bulk approval of source-of-wealth checks for high-risk customers and a $3.2 million loss from a malfunctioning cash-in, cash-out terminal.
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