{"id":604,"date":"2025-06-05T14:32:16","date_gmt":"2025-06-05T14:32:16","guid":{"rendered":"http:\/\/www.masteringphsyics.com\/?p=604"},"modified":"2025-06-11T13:03:38","modified_gmt":"2025-06-11T13:03:38","slug":"star-entertainment-pleads-for-au300m-cut-to-aml-related-fine","status":"publish","type":"post","link":"http:\/\/www.masteringphsyics.com\/index.php\/2025\/06\/05\/star-entertainment-pleads-for-au300m-cut-to-aml-related-fine\/","title":{"rendered":"Star Entertainment Pleads for AU$300m Cut to AML-Related Fine"},"content":{"rendered":"

The post Star Entertainment Pleads for AU$300m Cut to AML-Related Fine<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n

<\/div>\n

Back in trouble<\/h2>\n

Less than three months after Bally\u2019s Corporation saved Star Entertainment from administration, the Australian gaming giant is back in financial jeopardy.<\/p>\n

\n

\u201cmanifest failures\u201d by the casino group<\/p>\n<\/blockquote>\n

News emerged Thursday that Aussie financial watchdog AUSTRAC was seeking a penalty of AU$400m ($259m) for what it says were \u201cmanifest failures\u201d by the casino group.\u00a0<\/p>\n

According to reports, Australia\u2019s Federal Court on Wednesday alleged senior Star execs failed to properly impose adequate anti-money laundering (AML) and counter-terrorism-financing measures at its Brisbane, Sydney, and Queensland casinos.\u00a0<\/p>\n

AUSTRAC wants Star to pony up $259m for its multiple failures. Star, however, says it just doesn\u2019t have that much money.<\/p>\n

Dire straits<\/h2>\n

AUSTRAC attorney Simon White SC said the AU$400m fine was \u201cappropriate\u201d rather than \u201coppressive.\u201d Star, though, used the first day of the court hearing to express a very different, and desperate, position.\u00a0<\/p>\n

According to AAP News<\/em>, Star appealed to Justice Cameron Moore for the much lower fine of AU$100m ($66m).<\/a><\/p>\n

Star\u2019s plaintive plea, which came on the back of admitting its past failures of AML-linked processes, was that it could essentially only afford to pay US$66m. That\u2019s US$193m shy of AUSTRAC\u2019s penalty. In Aussie dollars, AU$300m short.\u00a0<\/p>\n

Star stated that its offer was the most it could pay \u201cwithout being pushed into liquidation.\u201d<\/p>\n

False sense of security?<\/h2>\n

The embattled Aussie casino giant has been counting the pennies for some time now, despite Bally\u2019s saving the firm from financial collapse in April<\/a> via a $300m rescue package.\u00a0While the Bally\u2019s Hail Mary deal gave Star space to breathe, the wolves are now back at its door.\u00a0<\/p>\n

The Federal Court hearing resumes Thursday.<\/p>\n

The post Star Entertainment Pleads for AU$300m Cut to AML-Related Fine<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The post Star Entertainment Pleads for AU$300m Cut to AML-Related Fine appeared first on Vegas Slots Online News. Back in trouble Less than three months after Bally\u2019s Corporation saved Star Entertainment from administration, the Australian gaming giant is back in financial jeopardy. \u201cmanifest failures\u201d by the casino group News emerged Thursday that Aussie financial watchdog […]<\/p>\n","protected":false},"author":1,"featured_media":324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino"],"_links":{"self":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts\/604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/comments?post=604"}],"version-history":[{"count":1,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts\/604\/revisions"}],"predecessor-version":[{"id":605,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts\/604\/revisions\/605"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/media\/324"}],"wp:attachment":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/media?parent=604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/categories?post=604"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/tags?post=604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}