"Crown Resorts" 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

Queensland Launches Probe into Star Entertainment’s Licenses

June 14, 2022

After claims of money laundering and other integrity concerns surfaced, the state government of Queensland has decided to start an independent investigation into the casino licenses held by Star Entertainment across the state. Lawyer Shannon Fentiman said on Tuesday that the government was considering these claims with a lot of seriousness. According to the attorney […]

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 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 Ameana Jones

Wynn Resorts Backs Out of Takeover Deal with Aussie Operator

April 11, 2019

Crown Resorts, one of the largest Australian casino operators recently issued a statement that Wynn Resorts had proposed a multi-billion-dollar takeover to the company. This took a rather unexpected turn when just a few hours after the announcement, Wynn Resorts released a contradictory statement that said that the proposed deal was now dead. “Following the […]