Star Entertainment has accepted it was “inappropriate and unacceptable” to withhold adverse KPMG reports about anti-money-laundering controls at its casinos from regulators, but rejected assertions that management’s hostile reaction to the papers was symbolic of wider cultural issues.

As it fights to hold on to its Sydney casino licence, the gaming giant also said a review into its operations should not find senior officers attempted to conceal evidence of poor practices from watchdogs. It ascribed such actions instead to a “misunderstanding” of legal and professional privilege.