NewsBite

The AFR View

The AFR View

Casino investors should share in dirty money risks

The Financial Review’s take on the principles at stake in major domestic and global stories.

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Casino operator Star seems to have outdone even Crown’s misdeeds. The respective state inquiries into Crown in Sydney and Melbourne by Patricia Bergin and Raymond Finkelstein, and now Adam Bell into Star Entertainment showed none of them were mere dupes in the rule breaking. They were enablers. Crown secretly brought illegal Chinese junket operators and their clients on to its premises. So did Star in Sydney, which following the Bell inquiry’s interim report this week must show cause why it should keep its licence or avoid up to a $100 million fine. Star also provided customers with China UnionPay facilities to dodge China’s regulations and blow $900 million, disguised as hotel expenses.

<p>

Australia’s national reputation as a clean, safe jurisdiction is being trashed as casino operations across the country have their dark underbellies exposed. Phil Carrick

Loading...
The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Gaming & wagering

Fetching latest articles

Most Viewed In Companies

    Original URL: https://www.afr.com/companies/games-and-wagering/casino-shareholders-should-lose-on-dirty-money-bets-20220914-p5bi3j