SYDNEY, Oct. 28 (Xinhua) -- Australia's largest listed casino operator has been fined 260 million Australian dollars (183 million U.S. dollars) for breaching anti-money laundering laws.
The Federal Court on Wednesday ruled that the Star Entertainment Group systematically failed to comply with anti-money laundering and counter-terrorism financing laws.
Legal proceedings were initiated against the group, which owns and operates casinos in Sydney, Brisbane, and the Gold Coast, in 2022 by the Australian Transaction Reports and Analysis Center (AUSTRAC).
Handing down his ruling in the landmark case on Wednesday, Federal Court Justice Cameron Moore said that the number of breaches was immeasurable.
The group halted trading on the Australian Securities Exchange ahead of the decision, with shares trading at 0.13 AUD apiece, down from 3.8 AUD in September 2021, before AUSTRAC's legal action.
The casino giant was saved from entering administration in April 2025 by a 300 million AUD rescue package led by U.S. gambling giant Bally's. (1 Australian dollar equals 0.7 U.S. dollars) ■
