Posted on

AUSTRAC Expands Investigation into The Star Entertainment Group

 

Recently, the Australian Transaction Reports and Analysis Centre, also known as AUSTRAC, has expanded its ongoing investigation to target other entities within The Star Group.

AUSTRAC is well-known for the specific role it plays as the Australian Government agency that takes responsibility for detecting, deterring, and disrupting criminal abuse within the financial system. Its aim is to protect the community from any organized and serious crime.

Within a statement to the ASX, the group referred to the announcement on the 7th of June 2021. This was in relation to The Star Sydney investigation launched by AUSTRAC.

The expansion of the investigation has prompted a response from The Star. It is as follows:

“AUSTRAC has advised that it has not made a decision regarding the appropriate regulatory response that it may apply to The Star, including whether or not enforcement action will be taken.”

“AUSTRAC has advised that it will request information and documents from The Star as part of its investigation.”

 

The group also added:

The Star takes its anti-money laundering obligations very seriously and will fully co-operate with AUSTRAC in relation to its requests for information and documents and the investigation.”

 

This isn’t the first time that The Star has faced legal action. It is currently facing legal action from New South Wales’ gambling regulator, ILGA (Independent Liquor and Gaming Authority). As part of its review of the operator’s Sydney casino license, the ILGA is preparing to hold public hearings in March. This is following allegations of governance breaches.

Earlier this month, Crown Resorts, a fellow troubled operator, received a revised non-binding proposal from a group. This was done to acquire all of Crown’s prices at a share price of AU$13.10 (US$9.55) cash per share on behalf of funds managed by Blackstone Inc. and the affiliates.

As of now, the offer from the private equity group is heavily supported by the operator’s board.

Latest Australian Gambling News

The New South Wales government plans to raise the tax rate on poker machines
Posted on

The New South Wales government plans to raise the tax rate on poker machines Date: 16.12.2022 As part of gambling reform, New South Wales has proposed raising taxes on poker machines. This decision was made after lobbying clubs expressed their ...

Read more
Dominic Perrottet does not expect a threat from the club lobby
Posted on

Dominic Perrottet does not expect a threat from the club lobby Date: 12.12.2022 Australian politician Dominic Perrottet said he does not expect any threats to stop slot machines in connection with the ClubsNSW campaign. Earlier, some deputies w...

Read more
Casino Ville Charged with Unauthorized Junket, Reef Casino Fined $10,000
Posted on

Casino Ville Charged with Unauthorized Junket Date: 12.12.2022 Casino Ville is located in North Queensland in Townsville. He received a fine from the Liquor and Gambling Regulatory Authority. The reason was the use of drugs in the process of at...

Read more
More Gambling News