There’s a large inquiry surrounding the Star Casino, the second-largest land casino in Australia. This may mean the casino will not be able to renew its gambling license after evidence of misconduct. According to the investigation, Star categorized debit card transactions used for gambling as hotel expenses. This revelation cast doubt on the Star's ability to hold its casino license. The inquiry revolves around misleading transactions worth $900 million (US$660.5 million) that originated from Chinese gambling transactions made via bank transfers.
Apparently, Star Casino hid these transactions under hotel expenses. According to the hearing, Star committed the error back in 2019, misleading China UnionPay and NAB (National Australia Bank). UnionPay had flagged the transactions as suspicious, and the Star assistant group treasurer Paulina Dudek admitted misleading NAB about the transactions.
What It Means For the Star Casino
If the allegations turn out to be accurate, which seems to be the case considering Dundek’s admission, Star Casino could be in trouble. Crown Melbourne was recently found guilty of committing similar misconduct, which triggered a series of events, resulting in government intervention and a clear-out of the senior management. The casino is also on track for a takeover, and while the Star Casino might not face a similar fate, its gambling license is in jeopardy.
It's unlikely that the Star Casino will lose its license, but the crime won't go unpunished. The casino will probably pay a fine and submit accurate transactions. However, its reputation and trust will suffer, and authorities will be keen when auditing the casino's records to prevent future misconduct. The NSW independent liquor & gaming authority started its inquiry into the Star Casino in 2021 to assess the casino's suitability to retain its gambling license.
NSW inquiries came after allegations in local media about criminal infiltration of the Star and extensive fraud and money laundering activities. Masking gambling transactions isn't a new challenge. Many established casinos hide gambling transactions in other expenses to reduce the tax amount paid to the government. If Star Casino is found guilty of breaking the code, it'll likely go through a change of leadership or even ownership.
What It Means For AU Casino Players
For players in Australia, the news of possible fraud, money laundering, and criminal activity is heartbreaking. Finding out your favourite casino is involved in illegal activity makes you wonder what other things they're hiding. Are the RNG results and gambling terms fair? What happens to player funds? Is it possible to continue gambling with the casino? These are some of the questions players face in the wake of the new inquiry.
Inquiries can lead to sanctions and closed operations, meaning players will need to find alternative casinos. Unfortunately, this means building loyalty from scratch and losing membership privileges achieved over the years playing at the Star. VIP players are obviously devastated by the news because it could result in massive changes in the casino's operations, and there's no telling what the Star will do to guarantee profitability.
In wake of this, more players have opted to play at online casinos to continue enjoying gambling products like real money pokies, blackjacks, roulettes, poker, baccarat, bingo, etc. The Star Casino has to explain why it masked the gambling transactions and prove to the jury it wasn’t facilitating criminal activity. For the players, the only option is to find another reliable gambling destination or leverage online casinos to continue betting for real money.
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