Key facts
- Star Entertainment will pay A$260 million ($183.6 million) in anti-money laundering penalties.
- The penalty will be paid in installments over 19 months.
- The company said the payment would not affect its ability to continue as a going concern.
Australia's Star Entertainment will pay a A$260 million ($183.6 million) penalty for breaching anti-money laundering and counter-terrorism financing laws, the company said on Thursday. The casino operator stated the payment would not impact its ability to continue as a going concern. The penalty stems from a civil lawsuit brought by the Australian Transaction Reports and Analysis Centre (AUSTRAC) in 2022, which alleged Star entities failed to comply with regulations. Star Entertainment said the penalty was in line with provisions it had already recorded. Chairman Soo Kim commended the work of AUSTRAC and the Federal Court. The company also remained confident about a $390 million credit facility with WhiteHawk.