"Australia" Tag Results

By Tomas Medon

Star Casino Slapped with Record Fine for Money Laundering

October 20, 2022

Money laundering at Star Entertainment Group’s Sydney casino culminated in a A$100 million ($62 million; £55 million) fine for the gambling behemoth based in Australia. In addition, the group’s casino license has been suspended. To save thousands of jobs, the NSW Independent Casino Commission chose to announce on Monday the highest possible penalties instead of […]

By Tomas Medon

Crown Gearing Up for Grand Opening in Sydney

July 26, 2022

Crown Sydney has announced that it would only welcome VIP guests when it first opens its doors in August. This comes after the Independent Liquor and Gaming Authority of New South Wales (ILGA) approved Crown to operate its Sydney facility last month. “Intimate” gaming space with “two luxury VIP gaming floors” and private salons is […]

By Tomas Medon

Blackstone Receives Green Light in Favor of Its Crown Bid

June 9, 2022

Australian gaming authorities have given the green light to private equity firm Blackstone to handle Crown Resorts Ltd.’s ailing casinos in the country’s two major cities. The $8.9 billion deal received the approval of the gaming authorities in both New South Wales and Victoria after the US equity group launched a takeover effort last year. […]

By Tomas Medon

The Star Entertainment Shares Crumble Amid Money Laundering Claims

October 11, 2021

Renowned gambling and entertainment operator the Star Entertainment Group (SGR) has had its share price drop significantly. This is largely thanks to reports that have alleged that the group has mirrored its rival Crown Resorts by allowing money laundering, organized crime, fraud, and foreign interference. The three-way report from The Age, The Sydney Morning Herald […]

By Tomas Medon

AUSTRAC Launches Money Laundering Probe into Country’s Casinos

June 10, 2021

Last Monday, the Australian Transaction Reports and Analysis Centre (AUSTRAC) launched a probe into some of the country’s casino operators. This follows concerns over a potential breach of some of Australia’s money-laundering laws. That said, casinos in all five major cities will be undergoing extensive background checks to ascertain that they are operating within the […]

By Tomas Medon

Star Entertainment Group Proposes Merger with Crown Resorts

May 10, 2021

World-renowned gaming and entertainment operator The Star Entertainment Group has recently revealed its plans to buy Crown Resorts Limited, its biggest competitor. This announcement came after the company submitted a conditional, non-binding, indicative proposal to merge which, if successful, will see the creation of Australia’s biggest gambling giant yet with a total of seven properties […]

By Tomas Medon

Crown Resorts Deemed Unfit to Run Newly-Built Sydney Casino

February 10, 2021

A recent inquiry by the Australian authorities has dealt a huge blow to Crown Resorts which happens to be one of the largest gaming and entertainment operators in the country. From what we could gather from this new development, the inquiry has deemed the popular gaming operator to be unsuitable to operate its newly-built AU$2.2 […]

By Tomas Medon

New Findings Could Spell Trouble for Credit Card Gambling in Australia

December 22, 2020

A little over a year ago, the Australian Banking Association announced a consultation paper that dealt with the use of credit cards for gambling transactions. This consultation’s main goal was to get the community’s views on the role of banks and other related financial institutions in addressing the issue of problem gambling. The findings of […]

By Alexander Palmer

Crown Resorts Probe Postponed Indefinitely Amid Pandemic

April 7, 2020

The Independent Liquor and Gaming Authority in New South Wales, Australia has recently announced that it is postponing its inquiry into Crown Resorts’ suitability to hold a gambling license in the territory. This is due to the ongoing COVID-19 pandemic which has brought most of the world to a standstill as efforts to contain its […]

By Elaine West

Casino Industry Takes A Hit Amid Coronavirus Pandemic

March 17, 2020

The coronavirus outbreak continues to wreak havoc across the world and a number of businesses are already feeling the pinch. The gambling industry, in particular, has taken quite the hit especially considering how popular the retail gambling space is.  However, this is a necessary step towards containing or at least restricting the spread of COVID-19 […]