A record AUS$100m (€64m) fine has been imposed upon Star Entertainment of Australia for AML failings at its Sydney casino, The Star.
In a statement this morning, the group confirmed that it will pay the penalty in relation to the AML failings reported in the earlier Bell Report.
The Star’s casino licence will also be “suspended indefinitely” with effect from 9am, 21 October 2022. As from then, the New South Wales Independent Casino Commission will appoint Nicholas Weeks as manager of the Sydney casino for a 90-day period, and on that basis it will remain open and operating.
It is anticipated that staff at The Star will be unaffected by the appointment of the manager, the group said. “The manager will have full control of and responsibility for the Sydney casino business, however, it is expected he will work closely with management of TSEG to manage the operations of the Sydney casino as a going concern with regards to the matters identified in the Bell Report,” it stated.
The A$100m is the maximum possible under New South Wales laws. Earlier this year, Crown Resorts in Melbourne was fined A$80m by the authorities in the neighbouring state of Victoria, for very similar reasons.