The Queensland gambling regulator announces that it will investigate allegations of money laundering related to Star Entertainment Group. And the ABC reports that Attorney-General in Queensland announces the news after explosive allegations were aired on 60 Minutes and in The Age and Sydney Morning Herald. In addition, Attorney-General Shannon Fentiman says that the Queensland police and the anti-money laundering agency AUSTRAC are going to work with the regulator in investigating Star Entertainment Group.
Star Responds To A Shock Report
The casino operator’s shares drop 23 percent to $3.30 on October 12 after allegations. Additionally, Nine Entertainment describes suspected money laundering, organized crime, large-scale fraud, and foreign interference which The Star enables.
The star says that the media report is giving wrong impressions in a statement to the stock exchange. Moreover, Ms. Fentiman says that the allegations are very serious and she is following the Bergin inquiry into Crown casino. Furthermore, the statement reads that the investigation will consider the appropriateness. And the effectiveness of Star’s due diligence processes concerning anti-money laundering. And how the Star approaches exclusions to exclude people from all properties where appropriate.
Apart from that, the government will be considering the outcomes of the various inquiries carefully. And will make any necessary changes to the regulatory framework. The New South Wales Independent Liquor and Gaming Authority is currently reviewing the Star Sydney casino.
The Star Follows Similar Route To Rival Crown
Two years ago, the same news outlets made similar allegations against Australia’s biggest gaming and entertainment group Crown Resorts. In addition, the report triggers a series of public investigations into the firm that has left its future in doubt. Moreover, in February 2021 the NSW Independent Liquor and Gaming Authority says that the Crown is not able to operate its casino in Sydney. After an official inquiry found it has facilitated money laundering. And the ruling prevents the company from securing a license to operate its newly-built $2.2 billion Sydney casino.
Furthermore, the scandal sees the departure of its chief executive Ken Barton less than a week after the findings of the inquiry are made public. A regulatory report into Crown’s suitability to run its casino in Melbourne is due on Friday. While an inquiry into its Perth casino is expected in 2022. Moreover, the list of allegations mirrors those leveled at its rival Crown Resorts. Which has faced two years of excoriating public inquiries in three states that have threatened its casino licenses, forced a sweeping corporate overhaul. And seen it declared unfit to run its new flagship Sydney Barangaroo casino.
NSW Independent Liquor and Gaming Authority Launches Its Five-year Review
Star escapes any significant repercussions of the kind its rival operator faces. But the NSW Independent Liquor and Gaming Authority recently launches its five-year review of the company’s Sydney facility under NSW casino laws. Moreover, among the most serious allegations is the Star board’s apparent neglect to act in 2018 on two confidential reports. From KPMG detailing key failures in its anti-money laundering and counter-terrorism financing procedures. The reports found the company had not properly vetted wealthy Chinese high-rollers it brought in via junkets, such as the notorious Sun City canvassed in the Crown hearings.
In conclusion, the Queensland gambling regulator investigates the Star about money laundering with the help of Queensland policy and anti-money agency AUSTRAC.
FAQS about Queensland Gambling:
What to wear on at the interview of the Star Entertaining Group?
If you are planning for an interview at The Star Entertaining group you should wear formal attire, black pants, and a white-collar shirt.
What does the company culture like at The Star Entertainment Group?
It likes to focus on five-star personalized customer service, the population of customers, and upselling.
How many days do the Star Entertainment Group offer for sick employees?
At this group, you get 10 days of sick leave per year with 3 days that do not need a doctor’s certificate. What to wear on at the interview of the Star Entertaining Group?