In 2012, John O’Neill fronted his first annual general meeting as the chairman of Star Entertainment, back then it was known as Echo Entertainment. At that meeting O’Neill told shareholders he was “determined that there be no more slip-ups or stumbles”, words which would come back to haunt him a decade later.

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Ten years ago, Star Entertainment was in turmoil. Its managing director was sacked amid allegations of sexual harassment, then the board rolled the chairman John Story after a ruthless and public campaign against him by billionaire James Packer, who was​ ​the company’s biggest shareholder. An inquiry by NSW’s Independent Liquor and Gaming Authority also happened that year, which looked into a range of allegations against the group, surrounding its culture and the allegations of staff sexual harassment and drug use. It was cleared. And then in January 2013 the company’s chief executive departed.

In the same month as the 2012 annual general meeting, O’Neill gave a media interview in which he reiterated there would be a significant improvement of ​the ​casino’s management and operations. “Right at the top of my priority list is no more stumbles. We’re a regulated industry, we’ve got to make sure that risk and compliance are at the top of the agenda, and not have any behaviour or errors of judgment that provide the regulator or government or other interested parties a free kick.”

A decade on, there are allegations of much more serious stumbles and slip-ups plaguing the casino group. Star Entertainment is the subject of an independent inquiry led by Adam Bell, SC, which began public hearings on Thursday to determine if Star Entertainment is complying with regulations and remains suitable to hold a casino licence in Sydney. The inquiry is examining allegations of money laundering and poor governance at Star’s flagship Sydney operation, and whether it had been infiltrated by organised crime.

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