Chief commissioner Philip Crawford said with the manager in place, the Star would be able to continue to operate while its licence was suspended.
The suspension will come into effect from 9am on Friday, October 21.
“The NICC has resolved that it is no longer in the public interest that The Star should remain in control of that licence, and that The Star is not currently suitable to be the holder of the licence,” Crawford said.
“The Star’s public communications to shareholders and its submission to the NICC’s show cause notice have demonstrated genuine contrition and a desire to work openly and transparently with the NICC to try to preserve the licence and protect the many jobs that depend on it being operable.
“If it were not for The Star’s change in attitude and our belief that it is in the public interest to protect the thousands of jobs at risk, there might have been a different outcome.”
Nicholas Weeks has been appointed as manager while the NICC continues to examine the Star’s longer-term future.
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“At this point the NICC believes there is a possibility The Star can undertake the reforms necessary to give the NICC confidence it can start a remediation process with a view to becoming suitable,” Crawford said.
The penalty is a response to a damning report into operations at the gaming hub which found the Star failed to stop the operation of criminal activity on its premises, despite knowing it was ongoing.
Some of the staff were involved in the criminal activity, but most were not, the report said.
Premier Dominic Perrottet condemned the casino’s conducts as “horrendous” when the report was released.
New Star CEO Robbie Cook starts in the role today.