Australia’s Star Sydney is at risk of losing its license for breaching anti-money laundering laws. The New South Wales Independent Casino Commission (NICC) is set to hold a meeting on September 27, during which they may revoke the license of Star Entertainment’s Sydney Casino.
However, the license cancellation is not certain. If the commission does not cancel the license, they may impose a fine of up to $67 million on Star Sydney. This development follows two investigations conducted by the NICC over the past two years, which uncovered financial improprieties in the company’s records.
In 2024, as reported by Reuters, the NICC launched a second investigation into Star Sydney. The reason behind this move was due to the concerns that the organization had not effectively rectified cultural deficiencies even after facing serious issues related to anti-money laundering and counter-terrorism in 2022.
The NICC, in a disciplinary notice sent to the casino, emphasized four significant breaches, with one of them being related to cash fraud. “The Star Sydney failed to conduct source-of-wealth checks on hundreds of members flagged as high risk and made fraudulent guest welfare entries that put already vulnerable customers at further risk of harm,” the NICC said in the notice.
Star Sydney has a total of 14 days from the date of receiving the notice to provide a response addressing the findings mentioned. After the second investigation, experts say the Star’s Sydney Casino license could be revoked. The NICC suspended Sydney Casino’s license in 2022, following the first investigation and imposed a A$100 million fine.
“The Star will dedicate all necessary resources to the inquiry to ensure it meets all its requirements and expectations,” the property stated earlier this year.
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