More trouble for Star Entertainment Group. The Australian casino operator has been ordered to pay a fine of $183 million.
Star Entertainment has been fighting for survival for years. Its takeover by Bally’s Corporation provided the company with much-needed stability. A refinancing agreement with WhiteHawk Capital Partners also secured a much-needed cash injection of $390 million.
However, the latest news shows that there is still a long way to go. As Star Entertainment Group announced via ASX announcement, a fine of A$260 million ($182.69 million) must be paid in instalments over 19 months.
The total comprises two penalties: A$195 million ($137.02 million) against Star Sydney and A$65 million ($45.67 million) against Star Gold Coast. The penalties relate to breaches of anti-money laundering and counter-terrorism financing laws between 2016 and 2022. They are the result of proceedings brought by Australian financial crime watchdog AUSTRAC.
“Given that the current ownership and management team had nothing to do with the actions that gave rise to the proceedings, we commend the work of AUSTRAC and the Federal Court. The Star looks forward to fostering a positive relationship with AUSTRAC and to demonstrating that The Star today has the right leadership, internal culture, and operational processes to eliminate the kind of behaviours that the penalty is meant to dissuade.
I noted at our AGM on 27 October 2026 that gaming is a public private partnership, and that we operate by privilege rather than by right. We agree with the public policy objective, that Australia is no place for financial crime and that our casinos are at the forefront of the industry in stamping out unwanted criminal activity.
It is great to get a determination yesterday and add this to the list of challenges The Star, under its new board and leadership team, has navigated,” said Soohyung Kim, Chairman of Bally’s Corporation, in an ASX announcement.