STAR FINED $100 MILLION FOR MONEY LAUNDERING
The Star Entertainment group has been fined $100 million by the Queensland government with a special manager appointed to oversee its casinos after a major independent review.
Queensland’s Attorney-General Shannon Fentiman criticised the casino behemoth’s “one-eyed focus on profit”.
She said The Star’s failings included a lack of enforcement and funding of their own anti-money laundering policies and allowing banned patrons into their casinos.
It comes two months after the Attorney-General found the Star unsuitable to hold a casino licence in Queensland, based on the findings of the Gotterson review.
Speaking today, Fentiman said the “significant” fine would “send a very strong message to Star that what happened was completely unacceptable”.
The 90-day suspension, which has been postponed until December 2023, was intended to be “hanging over their heads”.
She also addressed the new casino currently under construction at Queens Wharf, saying that Star could face “conditions” on its licence to operate there if it did not reform its practices by the time the new site opened.
“These disciplinary actions aim to strike a balance between ensuring thousands of Queenslanders can remain employed, but also sending that very strong message that what happened here in Star Casinos is completely unacceptable.”
Nicolas Weeks will be appointed Star’s special manager in Queensland, having already taken on the position in New South Wales.
The Star Entertainment Group halted trading on the Australian Securities Exchange (ASX) ahead of today’s announcement.
The Star’s shares last traded at $2.54.
