Star Entertainment Keep License but Fined A$100 million

Australia’s casino company Star Entertainment Group will not have its license removed but fined A$100 million for serious breaches in reporting, faked documents and money laundering.

In the investigation report findings, it was recommended that the operator lose its license for the New South Wales casino, however in its decision by the regulator it said that “it wasn’t in the public interest for thousands of Star employees to lose their jobs.”

So, the Star’s Sydney casino will remain open under a review license and be strictly monitored, however many believe the seriousness of the breaches warranted a license removal or at the very least a suspension.

With this finding both Star Entertainment and Crown Resorts, the two biggest Australian operators have been found guilty of major breaches in ALL their casinos, but none have had their licenses removed.

Many questions are now being asked on what grounds in the future a casino operator should lose their license if not now. It is clear that in making their decision the regulator has found that the companies are too big to fail but does that allow them to operate in a non-regulated way?

It was noted that the A$100 million fine imposed on Star Entertainment equates to 5% of the company’s pre-pandemic revenues annually.