Star Entertainment chairman Soo Kim says the Australian casino group is reviewing how it applies enhanced due diligence to VIP customers after criticism at its annual general meeting. Kim argued that the company needs to improve execution while continuing to meet its regulatory obligations.
A report by iGaming Expert says a shareholder raised concerns about the time required for know-your-customer and source-of-wealth checks. Kim said the current process may have moved too far toward restriction and acknowledged that some customers had gone to competitors.
Kim described the problem as operational rather than a reason to weaken the rules. The G3 Newswire account reports that he wants the company to find a better balance between regulatory scrutiny and customer service. He also said the issue has not yet been solved.
The review comes as Star reported improved operating performance for the quarter ended September 30. The company said group revenue rose 2% year on year to AUD284 million and group EBITDA reached AUD12 million. Those financial figures provide context for the customer-service review but do not change the group's continuing compliance responsibilities.
