Business · Companies · 3 hrs ago
Star Entertainment fined A$260 million over money laundering violations
Australia's Federal Court fined Star Entertainment A$260 million for historical money laundering violations.
The company operates casinos in Sydney and the Gold Coast and runs one in Brisbane.
AUSTRAC launched legal action in 2022, alleging Star failed to address money laundering risks linked to its dealings with gambling junket Suncity and its funder.
The agency also said Star continued dealing with them after learning of reports of criminal links.
Star argued that a penalty above A$100 million could force it into liquidation, while AUSTRAC sought A$400 million.
The judge set the penalty between those amounts, saying Star's proposed figure was too low and AUSTRAC's too high.
Star must pay in four instalments over 19 months.
The Federal Court fined Star Entertainment A$260 million for breaching anti-money-laundering and counter-terrorism financing laws.
Justice Cameron Moore ordered the penalty to be paid in four instalments over 19 months.
The penalty was between the A$100 million Star said would be challenging and the A$400 million sought by AUSTRAC.
Star has warned that a large fine could threaten its financial position.
The judge said Star’s remediation efforts and financial position were among the factors considered.
- Who
- Star Entertainment Group, the casino operator.
- What
- It was fined A$260 million for historical money-laundering violations.
- When
- October 28, 2026.
- Where
- The Federal Court in Australia.
- Why
- The court found Star contravened anti-money-laundering and counter-terrorism financing laws.
Star Entertainment
AUSTRAC
Penalty amount
Star Entertainment
Star said a penalty above A$100 million would be challenging based on available liquidity.
AUSTRAC
AUSTRAC sought a penalty of A$400 million.
An investigation by The Age, The Sydney Morning Herald and 60 Minutes alleged Star had enabled suspected money laundering and other criminal activity.
AUSTRAC launched legal action against Star.
A rescue deal led by Bally’s chairman Soo Kim helped keep Star afloat.
Justice Cameron Moore fined Star A$260 million and ordered it paid in four instalments over 19 months.
- Fine
- A$260 million
- Payment period
- Four instalments over 19 months
- Penalty sought by AUSTRAC
- A$400 million
- Penalty Star said would be challenging
- More than A$100 million
- Court
- Federal Court of Australia
2 sources
What people are saying
In effect, Star put profit over compliance and did so on a large scale
the $100 million penalty sought by Star was too low, but the $400 million penalty sought by AUSTRAC was too high
we look forward to seeing the process play out and ultimately dealing with whatever the ramifications are and moving on.