Australian gambling operator Star Entertainment Group has been fined AU$100 million (€64 million) for license breaches that included allowing money laundering to take place at its Sydney casino.
In an announcement issued via the NSW government website, regulators also confirmed that the company’s gambling license has been suspended.
The fine of AU$100 million is the maximum allowed under new regulations put in place following a damning inquiry into the company’s business activities. It’s believed that the NSW Independent Casino Commission stopped short of removing Star’s license to operate in a bid to protect thousands of jobs.
Star Entertainment Hit with AU$100 Million Fine — NSW Casino License SuspendedNICC Chief Commissioner Philip Crawford said of the penalty and suspension:
Star Entertainment Hit with AU$100 Million Fine — NSW Casino License Suspended Star Entertainment Hit with AU$100 Million Fine — NSW Casino License SuspendedThe Star’s public communications to shareholders and its submission to the NICC’s show cause notice have demonstrated genuine contrition and a desire to work openly and transparently with the NICC to try to preserve the licence and protect the many jobs that depend on it being operable.
If it were not for The Star’s change in attitude and our belief that it is in the public interest to protect the thousands of jobs at risk, there might have been a different outcome.”
He went on to add:
“The appointment of a manager does not mean the NICC believes The Star is suitable to hold a casino licence.
Star Entertainment Hit with AU$100 Million Fine — NSW Casino License Suspended
Earlier this year, the commission’s report found that Star Entertainment was unsuitable to continue as a gambling operator in New South Wales. The company is also under investigation in Queensland following allegations that it allowed as much as AU$55 million (€38.09 million) in gambling funds from Chinese high rollers to be disguised as room and entertainment charges.
Image credit: llee_wu / CC BY-ND 2.0
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.