Australia's Star Entertainment Group has been fined and its casino license suspended after an inquiry found it wasn’t suitable to run its casino in Sydney.
SYDNEY — The casino regulator in New South Wales state has hit Star Entertainment Group Ltd. SGR, +0.39% with a fine of 100 million Australian dollars and suspended the company’s casino license after an inquiry found it wasn’t suitable to run its casino in Sydney.
The earlier inquiry found that there were systemic governance, risk and cultural failures at the Sydney casino, and that vast sums of cash evaded anti-money laundering protocols, according to the regulator. “The appointment of Mr. Weeks will allow casino operations to continue and his primary focus will be to ensure a robust root cause analysis and review of the casino’s culture is undertaken,” Crawford said in a media release.