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Industry
April 1, 2022
Star Entertainment Took $1.3B from Xiangmo, a Dangerous Chinese Billionaire
Star Entertainment continues getting into trouble. The company is currently being reviewed after it was accused of being involved in money laundering, foreign interference, crime, and fraud. According to a recent finding, Star allowed a Chinese billionaire to deposit billions without checking his source of income. Star Entertainment’s Closeness with Xiangmo Is Concerning Huang Xiangmo […]
Casino
April 1, 2022
Star Entertainment Sees John O’Neill Take over CEO for Now
Star Entertainment, an Australian gambling and entertainment company, is undergoing major changes to its leadership team. The company will see a revamp of its board of directors. Analysts Critiqued O’Neill’s Increased Salary Following the leave of ex-CEO Matt Bekier, John O’Neill, a former rugby star and chairman of Star, stepped in the shoes of a […]
Casino
March 31, 2022
Senior Government Minister Questions Future of Casinos in NSW
Cities and Infrastructure minister of New South Wales Rob Stokes has questioned the future of the casino industry in Sydney and Australia following the damaging revelations of criminal practices, including money laundering, and collaborating with Asian junket operators despite advice not to, by investigators into Crown Resorts and Star Entertainment Group. Casino Shortcomings Bring into […]
Business
March 30, 2022
Tabcorp’s Lottery & Keno Demerger Up to Shareholder Vote
Australian gambling business Tabcorp announced the demerger of its Lotteries & Keno business moved one step closer after the Supreme Court of New South Wales ruled for a shareholder vote on the proposed scheme. Court Green-Lighted Demerger The NSW court ruling requires Tabcorp to convene a shareholder meeting and conduct a shareholder vote on a […]
Casino
March 30, 2022
Star Faces Another Class-Action Suit from ‘Misled’ Investors
Amid an ongoing probe into Star Entertainment’s suitability to hold a license, the company is now facing another issue – a class-action lawsuit filed on behalf of investors who feel they have been misled by the company. Star Investors Take the Fight to the Giant The public hearings into Star Entertainment revealed a number of […]
Casino
March 29, 2022
Blackstone’s Acquisition of Crown Resorts Now Closer to Realization
The Foreign Investment Review Board has given the green light on Blackstone Group’s proposed acquisition of Crown Resorts and in doing so, the first hurdle has been passed as the Australian government has no objection to the purchase. Blackstone Offered $6.5 Billion All-Cash to Buy Crown Blackstone’s offer of AU$8.9 billion ($6.5 billion) was met […]
Casino
March 28, 2022
The Star Entertainment’s CEO Hands His Resignation, Effective Immediately
Star Entertainment’s trouble does not seem to fade away. Recently after the company was put in the spotlight for AML breaches, the company’s CEO, Matt Bekier, said on Monday that he will be tendering his resignation as he felt obliged to take responsibility for the current discrepancies. Bekier’s Resignation Is Effective Immediately Bekier’s resignation follows […]
Casino
March 28, 2022
Star Manager Says Higher-ups Condoned Gambling/Accommodation Expenses System
The public inquiry led by the Independent Liquor and Gaming Authority or ILGA had David Aloi, a former Star casino regulatory manager on the stand today, who shed more light on how the property assisted Chinese customers to avoid detection and continue gambling while writing off the expenses as hotel accommodation rather than gambling expenditure. […]
Casino
March 24, 2022
A New Report Sends Crown Perth on a 2-Year Pathway to Suitability
A probe into Crown Perth’s business completed by the Perth Casino Royal Commission (PCRC) in Australia deemed the company not suitable to hold a license. However, the Commission decided to grant Crown Perth the possibility to remedy its shortcomings for a period of two years instead of proposing license revocation. During that time, Crown Perth […]
Sports
March 24, 2022
ACMA Blocks More Australian Gambling Affiliates
The Australian Communications and Media Authority (ACMA) is taking aim not just at the operators who try to operate in the country without a license, but also at those who enable them. That is why the latest enforcement move by the watchdog has targeted four affiliate gambling websites that try to drive traffic towards their […]