The prime minister has rejected calls for a national royal commission into the gaming industry after Sydney's Star was found unfit to hold a casino licence.
The Star has 14 days to respond after an inquiry commissioned by the NSW Independent Casino Commission found its management had ignored organised crime links and money laundering.
Inquiry head Adam Bell SC found "extremely serious governance, risk management and cultural failures" had occurred.
"The performance of Star has been absolutely horrendous," Premier Dominic Perrottet said on Wednesday.
Pending its response, the Sydney casino's future is uncertain.
"If they don't comply, they're likely to close," Mr Perrottet said.
"There is no place for anybody in any organisation, particularly casinos, to not be complying with the regulations."
Federal independent MP for Tasmania Andrew Wilkie said the Bell report's findings are "no surprise" and the "unethical and illegal" behaviour exposed points to "deep cultural and systemic problems in the company".
"This latest inquiry into yet another Australian casino operator shows again why there is an urgent need for a national inquiry into these trans-state corporations," the anti-gambling campaigner said in a statement on Wednesday.
"What's now been exposed at Star in Sydney is entirely consistent with what we've already seen in Crown in Perth and Melbourne, and I assume will be the case at Star venues on the Gold Coast and in Brisbane," he earlier told ABC TV.
"We clearly have a national problem here. When are we going to start holding boards, directors and chairs, to account?"
Mr Wilkie also called for an independent national regulator to work with federal authorities like AUSTRAC and the Australian Federal Police.
State and territory governments were conflicted about regulating the industry because they benefit from vast tax revenues, he said.
Prime Minister Anthony Albanese disagreed.
"It's pretty obvious that the state regulators are doing a pretty good job of holding the casino operators to account," he said.
"I'm not in favour of regulation for the sake of it. It's pretty hard for anyone to argue that either Crown or Star are not being held to account at the moment."
In a statement to the Australian Securities Exchange on Tuesday, The Star said it was considering the commission report and subsequent notice to show why it shouldn't lose its licence and would respond by August 27.
