Australian regulator expands Star Entertainment money laundering probe

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Australian regulator expands Star Entertainment money laundering probe

*AUSTRAC announced on Friday that the investigation into Star will now include multiple entities under the company, while further declining to comment as the probe was going on. The company have said that they will fully co-operate with AUSTRAC’s investigation.

*Although, Star Entertainment’s rival, Crown Resorts, has also faced misconduct inquires in each state it operates in.

*On Thursday, Crown had received a $6.5 billion buyout from the U.S private equity company Blackstone. Star itself had contacted Crown for a deal last year before backing out over regulatory concerns.

*It examined criminal activity by its customers and other malpractices; while also reiterating its interest in combining the two casinos. 

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