Australia’s largest listed casino company, The Star Entertainment Group, has been fined $260 million over historical repeated money laundering violations that led to the suspension of its casino licences in NSW and Queensland.
The penalty handed down by Justice Cameron Moore in the Federal Court today came a day after shareholders gathered for the casino operator’s annual meeting in Sydney.
Australia’s financial intelligence agency, AUSTRAC, launched legal action against Star in 2022.
It accused the company of failing to adequately address money-laundering risks arising from Star’s dealings with Asian gambling junket Suncity and its funder, and of continuing to deal with them despite becoming aware of reports of criminal links.
Star, which…