“The Star accepts here, as it did in the Bell Inquiry, a procedure in which China UnionPay cards were swiped at hotel terminals and then used to fund gambling” that obscures the true nature of the transaction and conceals that the funds were spent on UnionPay and China Gambling purposes of financial institutions,” the comment read.
The Queensland sentencing is scheduled for June 2, when the company will know how much it will have to pay.
In December, the Queensland state government allowed the Star’s Brisbane and Gold Coast casinos to continue operating under the supervision of a special manager appointed by the state after slapping the company with a $100 million fine. Star’s operations are now overseen by Nicholas Weeks, the same oversight the NSW gambling regulator has imposed on its Sydney Harbor casino.
Record fines under new Queensland laws passed in August and the appointment of a special manager following a review by Mr Gotterson. Mr Gottson also found the company lured high rollers to its Queensland casinos to gamble at its Queensland casinos, which were banned from casinos in other states, and that the company’s anti-money laundering and counter-terrorist financing programs were “seriously flawed”.
The company and some of its former directors and executives are facing separate legal action from the Australian Securities and Investments Commission.In documents filed in federal court late last year, the corporate watchdog said the former Star CEO Matt Becker Ex-company chairman John O’Neill failed to pay ‘full attention’ Risks of money laundering and criminal ties in its casino.
ASIC alleges that nearly a dozen former directors and executives failed to comply with their statutory duty of care and diligence at key board meetings between 2017 and 2019. It is seeking declarations and disqualification orders, as well as penalties of up to $1.05 million per violation.
Star shares fell 2.4 percent on Monday and closed down 3.5 cents at $1.42.