ASIC cites ‘concern’ over provision for AML penalties
Star estimates A$150m for fines in Austrac legal action after regulatory prodding. SkyCity has yet to put a number on its liability.
ASX-listed Star Entertainment was sued by Australian financial regulator Austrac in November last year.
An A$150 million ($160m) provision for potential money-laundering penalties was acknowledged by casino operator Star Entertainment after concerns were raised by the Australian Securities & Investments Commission, the regulator said this week.
New Zealand’s SkyCity is yet to make a similar
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