Australian gambling giant Star Entertainment Group has been fined A$100m ($62m, £55m) for failing to prevent money laundering at its Sydney casino. The group’s license has also been suspended by the Independent Liquor & Gaming Authority (ILGA), a regulator-appointed manager will run the Sydney casino. This fine is the maximum allowed, but the regulator did not terminate Star’s license to protect thousands of jobs. The CEO, Matt Bekier, and other top executives resigned.
The institutional arrogance of this company has been breathtaking.
ILGA chief Philip Crawford
An investigation by an independent commission found Star had failed to prevent money laundering and criminal activity. Starting on 21 October 2022, the Star will not be able to run the casino on its own until it can “earn” its license back, Philip Crawford said.
A spokesman for The Star said the company is committed “to charting a path back to suitability.”
