Tag: Star Entertainment Group

Money Laundering: Australian Star Entertainment Fined A$100 Million; License Suspended!

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.