{"id":253,"date":"2025-06-05T14:32:16","date_gmt":"2025-06-05T14:32:16","guid":{"rendered":"http:\/\/www.pabloblaqk.com\/?p=253"},"modified":"2025-06-11T13:39:52","modified_gmt":"2025-06-11T13:39:52","slug":"star-entertainment-pleads-for-au300m-cut-to-aml-related-fine","status":"publish","type":"post","link":"http:\/\/www.pabloblaqk.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 … <\/p>\n","protected":false},"author":1,"featured_media":238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino","latest_post"],"_links":{"self":[{"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/posts\/253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/comments?post=253"}],"version-history":[{"count":1,"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/posts\/253\/revisions"}],"predecessor-version":[{"id":254,"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/posts\/253\/revisions\/254"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/media\/238"}],"wp:attachment":[{"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/media?parent=253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/categories?post=253"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.pabloblaqk.com\/index.php\/wp-json\/wp\/v2\/tags?post=253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}