Star Entertainment Group, one of the largest operators of land-based casinos in Australia, has received a further blow in New South Wales as its casino license was suspended along with a fine of 100 million Australian dollars.
In September, the company was declared unsuitable to hold a casino license in New South Wales, after the report compiled by Adam Bell SC unveiled several failings at Star Sydney regarding anti-money laundering and social responsibility policies.
The report revealed that the company engaged in successful attempts to circumvent Chinese capital flight laws by reclassifying gambling spend as hotel expenses on China Union Pay cards. Moreover, Star Entertainment employees lied to banking institutions regarding these payments and allowed an entity with likely links to organized crime to conduct operations in the Sydney casino.
After the report was released the company was given fourteen days to respond before disciplinary action would be taken. A few days later, Geoff Hogg became the third Star Entertainment Chief Executive Officer to resign in 2022 after having held the role for just four months.