Published
Industry

The Star Group faces allegations of money laundering

Shares in casino operator The Star Group fell almost 20% after allegations of money laundering, organised crime, large-scale fraud and foreign interference.

StarAustralia

Allegations published by the media, including the Sydney Morning Herald and The Age, claim that between 2014 and 2021, Star Entertainment catered to high-roller gamblers who are allegedly associated with criminal or foreign-influence operations. The company reportedly also disguised gambling activity as hotel expenses in the case of some Chinese players.

The group responded that the allegations were false, saying: “The Star is concerned by a number of assertions within the media reports that it considers misleading. There are constraints on publicly discussing specific individuals. We will take the appropriate steps to address all allegations with relevant state and federal regulators and authorities.

“The Star operates in a heavily regulated industry. We are subject to thorough and ongoing regulatory oversight including compliance checks and reviews across the company’s operations in NSW and Queensland.”

The company assured The Star takes recommendations of the Bergin Inquiry seriously as they will impact the regulation of casinos in NSW. The group's Sydney casino is currently being reviewed by the New South Wales Independent Liquor & Gaming Authority (ILGA).

It is expected that The Star might lose its Victoria licence or at the very least face stricter regulations. However, the decision will ultimately be left in the hands of investigating authorities. The situation is closely resembling the Crown Resorts scandal, which saw restrictions placed on the company’s activities.

The news also seemingly impacted more than The Star, as the shares of SkyCity Entertainment Group and Crown also dipped.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Crown Melbourne
Resorts World Las Vegas
Crown Melbourne
Global Gaming Women
Svenska Spel
Follow Us

Facing facts: FY revenue figures reflect a turbulent '24

Who soared high and who fell behind in 2024? Gambling Inside...

Taking stock: Moving through to Q2

Gambling Insider tracks online casino operator and supplier...

Preview: This year's Global Gaming Awards Asia-Pacific and Americas

It’s that time of year once again, as the Global Gaming Aw...

Costa Rica: Effective regulation is the industry's path forward

Gambling Insider Senior Staff Writer Beth Turner spoke with...

Preview: Global Gaming Awards Asia-Pacific 2025

The Global Gaming Awards Asia-Pacific’s highly anticipated...

Preview: SiGMA Manila 2025

The return of the Philippines’ annual summer gaming summit...

Company profile: Gameplay Interactive

A multi-currency & multilingual white-label and turnkey solu...

Company profile: Lynon

Expertise & commercial flexibilities: In the ever-changing l...