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Australia's Star Casinos Lost $1.26b Amid Scandals

Australia's Star Casinos Lost $1.26b Amid Scandals

by Starling Insights

Starling Insights Editorial Board

Mar 09, 2023


Following a major money laundering scandal, Australian casino operator Star Entertainment Group has announced a $1.26 billion loss for the first half of the 2023 financial year.

Star blamed some of its poor financial performance on increasingly restrictive operational requirements.  A report released to the Australian Securities Exchange reflected $1.3 billion in one-off costs, $350 million in fines, and other expenses related to ongoing reviews and new systems requirements. “Recent regulatory changes have increased compliance costs,” the report read.

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