{"id":23427,"date":"2021-10-11T11:56:01","date_gmt":"2021-10-11T14:56:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23427"},"modified":"2026-04-23T14:55:38","modified_gmt":"2026-04-23T17:55:38","slug":"star-entertainment-shares-fall-after-money-laundering-allegations","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/star-entertainment-shares-fall-after-money-laundering-allegations","title":{"rendered":"Star Entertainment shares fall after money laundering allegations"},"content":{"rendered":"\n

The Australian casino firm’s shares fell dramatically after media allegations of money laundering. The company denies the accusations.\u00a0<\/p>\n\n\n\n\n\n\n\n

Australia.- Australian shares ended lower today as Star Entertainment Group<\/a>‘s share price fell by more than a fifth<\/strong>, following media allegations that it failed to do enough to prevent money laundering and fraud<\/strong> at its resorts.<\/p>\n\n\n\n

A joint report by three news outlets (The Age, The Sydney Morning Herald and 60 Minutes), implicated the firm in suspected money laundering, organised crime and fraud. They say that between 2014 and 2021 the firm wooed high-rolling gamblers who were allegedly linked to criminal or foreign-influenced activities.<\/p>\n\n\n\n

Star’s main rival, Crown Resorts<\/a>, faced similar claims in 2019, which led to a series of investigations and inquiries that are still going on.<\/p>\n\n\n\n

Star said in a statement to the Australian Securities Exchange, that it was “concerned by a number of assertions within the media reports that it considers misleading<\/strong>.”<\/p>\n\n\n\n

It said: “We will take the appropriate steps to address all allegations with relevant state and federal regulators and authorities<\/strong>.”<\/p>\n\n\n\n

See also:<\/strong> Star Entertainment posts revenue of AU$1.56bn for FY21<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Australian casino firm’s shares fell dramatically after media allegations of money laundering. The company denies the accusations.\u00a0<\/p>\n","protected":false},"author":226,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Australian casino operator Star Entertainment Group's shares declined significantly following media allegations of failing to prevent money laundering and fraud, particularly involving high-rolling gamblers. The company denies the accusations, stating it will address the claims with relevant state and federal regulators, drawing parallels to similar past issues faced by rival Crown Resorts.","focusai_entities":"Star Entertainment Group, Crown Resorts, The Age, The Sydney Morning Herald, 60 Minutes, Australian Securities Exchange","focusai_location":"Australia","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), tech_data (0.7), payments_fraud_aml (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Regulatory Impact Assessment","query":"What specific enhancements to AML\/CTF governance frameworks and internal controls will Star Entertainment Group implement to satisfy state and federal regulators, and what is the projected timeline for these remediations?"},{"label":"Shareholder Value Implications","query":"Given the precedent of Crown Resorts, what is the estimated financial impact of potential fines, license conditions, or operational restrictions on Star Entertainment Group's future GGR, NGR, and shareholder value?"}],"footnotes":""},"categories":[16336,157,158],"tags":[14657,1295],"class_list":["post-23427","post","type-post","status-publish","format-standard","hentry","category-australasia-news","category-business-news","category-slider-home","tag-crown-resorts","tag-star-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23427"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23427\/revisions"}],"predecessor-version":[{"id":23435,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23427\/revisions\/23435"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}