Casino fined $260m for money-laundering failures
Star Entertainment fined $260 million in Federal Court for historical money laundering and compliance failures.
Justice Cameron Moore set the penalty in Federal Court on Wednesday, stating Star "put profit ahead of compliance". AUSTRAC had sought $400 million.
Star argued any penalty above $100 million would force liquidation. Star has 19 months to pay in four equal instalments.
The company's market value is $763 million. Shares closed at 13 cents.
It is in a trading halt while management addresses the impact. Star operates casinos in Sydney, Gold Coast, and Brisbane.
- $260 million
- Federal Court fine
- 19 months in four equal instalments
- Payment timeline
- $763 million
- Market value
- 13 cents
- Share price
Why it mattersThe fine threatens Australia's largest listed casino with potential administration. It affects investors, workers, and venues that depend on the company.
AustraliaAustralia's biggest casino faces potential collapse; operations in Sydney, Gold Coast and Brisbane are at risk.
Corroborated byperthnow.com.au
✓ Claims checked against the source. checked 1 h ago
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