Published
Legal & Regulatory

AUSTRAC starts an investigation into Star Entertainment Group

The Australian Transaction Reports and Analysis Centre (AUSTRAC) is investigating casino operator Star Entertainment Group over suspected breaches of customer due diligence laws, which could jeopardise an AU$12bn (US$9.4bn) proposal to buy rival Crown Resorts, reports Reuters.

StarAustralia

According to the statement released by Star Entertainment, AUSTRAC has identified several potential non-compliance cases with the Australian Anti-Money Laundering and Counter-Terrorism Financing Act 2006, and the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007.

The concerns include “ongoing customer due diligence, adopting and maintaining an AML/CTF Program and compliance with Part A of that Program”, and were initially addressed by AUSTRAC in 2019, when the regulator focused on Star Sydney’s management of high-risk and politically exposed clients from 2015 to 2019.

AUSTRAC will conduct further investigation, and the Star stated it “will fully co-operate with AUSTRAC in relation to its requests for information and documents and the investigation.” The Star operates the only casino in Sidney.

The Star recently submitted a proposal to acquire Crown Resorts, another operator that is itself going through several investigations and a royal inquiry into its casino operation.

The initial report that alleged Crown’s involvement in money laundering kickstarted a series of probes to determine whether the organisation is suitable to hold gaming licences. Now AUSTRAC has widened its Crown investigation and started a formal enforcement probe into a potential breach of anti-money laundering and counter-terrorism financing rules in Crown’s Perth casino.

The regulator is also looking into SkyCity Entertainment Group, which has a casino in Australia, suspecting the same breaches in anti-money laundering and counter-terrorism rules.

Premium+ Connections
Premium

Revsharks

 
Premium

GammaStack

 
 
Premium

Digitain

 
Premium

Sport Generate

 
Premium

RISK

 
Premium

Galaxsys

 
Premium

Imagine Live

 
Premium

1xBet Partners

 
Premium

PIN-UP Partners

 
Premium

Lynon

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...