Investors in Star Entertainment have felt the brunt of the Company’s misdeeds, seeing SGR shares plummet dramatically on open following the announcement of the potential reforms. Amounting to nearly 15% on Tuesday alone–on what was already considered a volatile stock, signals an uncertain future for shareholders who may now be considering what lies ahead. The Attorney said further reforms recommended by the Gotterson Report, including strengthening provisions to reduce gambling harm and money laundering, are continuing to be progressed. The reforms also pave the way for a transition to safe cashless gaming which will address some of the money laundering concerns identified in the Gotterson Review. “The reforms also remove any requirement for the Government to compensate casino operators for introducing stronger regulatory laws, as has been done in other states. On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form or a Sale Instruction Form , and Terms and Conditions for the relevant share sale facility.
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These included 2000 construction jobs, 8000 ongoing and $880 million in “guaranteed” casino taxes over the first 10 years. “If the Victorian Labor government was serious about minimising gambling harm it would introduce these limits everywhere, not just at Crown,” she said. “Some was so callous that it is hard to imagine it could be engaged in by such a well-known corporation,” former Federal Court judge Ray Finkelstein said in his royal commission inquiry. A cash cap of $1000 every 24 hours will need to be implemented by the end of next year to tackle money laundering, and anyone who gambles more than that will have to use casino-issued cards.