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The United Workers Union has called for all parties to collectively prioritise the jobs of 8,000 workers in Queensland and NSW as The Star Entertainment Group hangs in the balance, struggling with financial distress.
United Workers Union (UWU), which represents thousands of The Star casino workers, said the overall financial insecurity and uncertainty facing these workers need to end as quickly as possible.
The Star Entertainment Group, which oversees the infamous The Star casinos, has been battling some serious economic deficiencies, with a report revealing that it would be unsuitable to take back control of its Sydney casino license.
According to the ABC, its casino assets required massive write-downs in their value. Pair that with tighter gaming regulations and a tumultuous economic climate, and it’s a recipe for revenue disaster.
If that wasn’t enough, The Star Entertainment Group pursued building a new Brisbane casino, toppling $3.8 billion in the Queens Wharf precinct, which has only recently opened. This, of course, was much to blame for the financial burden that the enterprise is now facing.
These financial clouds that are casting doubt on the enterprise’s future are beginning to worry the workers who reside at these casinos. With the banks and state governments hesitating to lend a hand to bail out the enterprise, fears are beginning to muster among workers.
“All parties – the company, regulators and governments – should be doing everything they can to keep Star’s doors open,” Andrew Jones, United Workers Union Casinos director, said today (5 September).
“It’s not fair that hard-working Star employees could be left carrying the can for a series of regulatory and operational failures they have had nothing to do with. These are 8,000 jobs that should not be thrown away.”
“It’s hard to overstate the exhaustion and fear these workers have endured in the last couple of years, let alone the last couple of days.”
Both the NSW and Queensland governments have displayed differing forms of support for casino workers during this predicament. Queensland Premier Steven Miles has stated that Brisbane’s Star casino is “too important” to allow it to fail. Meanwhile, the NSW government has aided the casino in the past.
“We welcome the positive comments from Queensland’s Premier, Steven Miles, that Star’s case is being viewed favourably. We also recognise that the NSW government has helped Star out in the past,” said Jones.
“Our members are urging all parties to seek a sensible resolution to allow Star to continue as a going concern.”
Premier Miles recognised the importance of The Star’s jobs to the economy, which is a factor that Jones stresses throughout his statement.
“If Star’s current management fails to come to terms, workers need to be given assurances in any administration or sale scenario that their jobs will be maintained. The casino’s recovery must prioritise the workforce, as casino workers are integral to the success of the operations.
“The fact is Star’s underlying operations are viable businesses that can and should meet the highest levels of regulatory oversight,” said Jones.
“For the sake of thousands of workers, their families, and their communities, there needs to be a commitment from all parties to providing the safe, stable workplaces our members deserve. The impact of getting this wrong would be devastating for Star workers and their families, leaving them and their local communities reeling.”
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When a company can no longer support a certain job within the organisation, it redundancies that employee.
Kace O'Neill
Kace O'Neill is a Graduate Journalist for HR Leader. Kace studied Media Communications and Maori studies at the University of Otago, he has a passion for sports and storytelling.
