Australia’s Star Entertainment accepts $183.6 million anti-money laundering penalty

Oct 29 (Reuters) Australia s Star Entertainment said on Thursday it would accept a court-imposed penalty of A$260 million ($183.6 million) for breaching ​anti-money laundering and counter-terrorism financing laws. The ‌beleaguered casino operator said the payment would not affect its ability to continue as a going concern. • The penalty, to be paid in four installments over ‌19 ​months, stems from a civil ⁠lawsuit brought by the ⁠Australian Transaction Reports and Analysis Centre (AUSTRAC) in 2022, which alleged Star entities failed to comply with anti-money laundering and counter-terrorism financing regulations • ​The company said the penalty was materially in line with provisions it had already ⁠recorded • Given that the current ⁠ownership and management team had nothing ​to do with the actions that gave rise to ​the proceedings, we commend the work of ‌AUSTRAC and the Federal Court, Chairman Soo Kim said • Star said it was continuing discussions with US-based private credit inve