Mr Bekier defended The Star’s track record after The Age and Sydney Morning Herald revealed similar failures to prevent criminal infiltration, prompting a public review of its licence by senior barrister Adam Bell, SC, to start next month.

“There’s always opportunity to do better,” he said, while declining to address specific issues raised in the reports ahead of the inquiry. “We have always strived to be very compliant ... but it is going to be up to [anti-money laundering regulator] AUSTRAC and [Mr] Bell to form their view as to whether that has met their standards.”

Loading

Crown on Thursday reported a $196 million statutory loss for the six months to December 31, $121 million loss for the same period in 2020 and a $218 million profit in the pre-pandemic 2019, after COVID-19 restrictions forced it to close its properties for much of the period.

However Crown chief executive Steve McCann said the results showed the group had “turned the corner”, with all its domestic properties now open, the community vaccinated and significant reforms underway to address past regulatory and probity failings.

The Star meanwhile reported a $74 million statutory loss for the first half, deepening its losses from $51 million, as forced COVID-19 closures weighed heavily on its performance. It also flagged a higher wages bill as it faces paying more overtime to cover shifts amid a staff shortage.

The Omicron COVID-19 wave has had a “material impact” on visitation to the Star’s casinos in Sydney, Brisbane and the Gold Coast, but this had peaked in mid-January and gradually recovered since, it said.

The Star’s shares closed 3.8 per cent lower at $3.56 while Crown’s closed 0.7 per cent lower at $12.47. Neither company declared a dividend.

The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon.