Federal Court to rule on Star Entertainment penalty up to $400 million
Justice Cameron Moore hands down the fine judgment Wednesday for Star Entertainment's repeated money laundering breaches that suspended its casino licences.
The Federal Court will decide this week how much Star Entertainment must pay for failing to stop money laundering at its NSW and Queensland casinos. The regulator AUSTRAC is seeking $400 million.
Star has told investors a penalty above $100 million would create serious cash flow problems. Such a penalty could force the company into administration.
Star was rescued last year with a $300 million package. This gave US casino operator Bally's and the Mathieson pub empire control.
The scandal began in 2021 when investigations showed Star had enabled suspected money laundering and organised crime for years. Its board had warned that its systems to stop money laundering were broken.
- $400 million
- AUSTRAC penalty sought
- $300 million
- Rescue package value
- Cameron Moore, Wednesday
- Justice hearing
Why it mattersThe fine size will determine whether Star survives or enters administration. This affects thousands of workers and billions in shareholder value.
AustraliaStar Entertainment's viability directly affects casino employment and gaming operations in NSW and Queensland, and the company's ability to recover its suspended licences.
✓ Claims checked against the source. checked 2 h ago
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