Australian wagering and gaming operator Tabcorp Holdings is under investigation by financial crimes regulator Australian Transaction Reports and Analysis Centre over concerns tied to anti-money laundering and counter-terrorism financing compliance. The company disclosed that AUSTRAC had informed it of “serious concerns” regarding Tabcorp’s ability to identify, mitigate and manage money laundering and terrorism financing risks. According to statements released through the Australian Securities Exchange, the investigation will initially examine whether the company maintained a compliant AML/CTF program, followed that program […]

The post Tabcorp Faces AUSTRAC Investigation Over AML Controls appeared first on World Casino News.

Star Entertainment Group has successfully gained shareholder approval for a vital AU$300 million rescue package that is poised to help the company navigate its ongoing financial turmoil. The capital infusion, which was overwhelmingly supported by shareholders at a general meeting held on June 25, has been hailed as a crucial lifeline for the Australian casino giant, whose financial position has been under severe pressure due to a series of regulatory and operational challenges. The need for financial support: As stated in the company’s ASX […]

The post Star Entertainment Secures AU$300M Capital Boost to Avert Financial Crisis appeared first on World Casino News.

Australian authorities have initiated legal proceedings against Entain, the global gambling operator behind brands like Ladbrokes and Coral, over alleged non-compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) laws. The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced the case, marking its first civil penalty action against an online gambling operator. AUSTRAC accusations and allegations: AUSTRAC’s investigation into Entain began in September 2022 as part of a broader review of corporate bookmakers. The agency alleges “serious and systemic non-compliance” with AML/CTF regulations, claiming the operator failed to establish adequate measures […]

The post Australian Authorities File Legal Action Against Entain Over AML Failures appeared first on World Casino News.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) is currently investigating Entain Plc, a sports betting giant based in Britain, for compliance. The company is being assessed on its anti-money laundering and counter-terrorism financing protocols. The investigation was launched after a completed supervisory campaign connected to the corporate betting sector. Details of the Investigation Not much is known about the investigation into Entain at this time. In a statement, AUSTRAC Chief Executive Officer Nicole Rose said that reporting entities must […]

The post Entain faces Australian investigation into anti-money laundering and counter-terrorism financing laws appeared first on World Casino News.

The anti-money laundering watchdog for Australia has reportedly commenced civil penalty proceedings against Crown Resorts Limited over the casino operator’s alleged failure to comply with a range of federal financial probity regulations. According to a report from Business News Australia, the move from the Australian Transaction Reports and Analysis Centre (AusTRAC) comes after the states of Victoria, New South Wales and Western Australia commenced official enforcement investigations into the operator’s past compliance with a range of anti-money laundering protocols. The […]

The post Crown Resorts Limited being sued in Federal Court by AusTRAC appeared first on World Casino News.

In Australia and the government for the state of New South Wales has reportedly announced the introduction of a range of interim measures that have been designed to better regulate the local casino and gaming markets. According to a report from Asia Gaming Brief, these new arrangements are set to come into force from next month in advance of a more wide-ranging program that is to ultimately lead to the regulation of casinos in the nation’s most populated state being […]

The post New South Wales implementing temporary measures on casino regulation appeared first on World Casino News.

In Australia and the Chief Investigator for the Liquor and Gaming New South Wales regulator has reportedly asserted that his state’s 95,000 video slots are being used to illegally launder ‘hundreds of millions’ of dollars every year. According to a Sunday report from The Sydney Morning Herald newspaper, the surprising revelation from David Byrne comes after footage from a central Sydney video slots venue emerged showing a money laundering syndicate operating with apparent impunity. This fresh recording purportedly revealed a […]

The post New South Wales regulator highlighting video slot money laundering threat appeared first on World Casino News.

American private equity management firm The Blackstone Group Incorporated has reportedly lodged a second improved offer in its effort to take over beleaguered Australian casino operator Crown Resorts Limited. According to a Thursday report from the Reuters news service, the latest proposal from the New York-headquartered enterprise would see it purchase all of the issued shares in Crown Resorts Limited at an individual price of about $9.05. The source detailed that this rate would be higher than the $8.58 and […]

The post The Blackstone Group Incorporated again sweetens its Crown Resorts Limited buyout proposal appeared first on World Casino News.

A few weeks after launching an investigation into Crown Resorts Limited and the Australian Transaction Reports and Analysis Centre (AusTRAC) regulator has now reportedly announced that it is widening this probe to include rival casino operators SkyCity Entertainment Group Limited and The Star Entertainment Group Limited. According to a report from the Reuters news service, the revelation from the financial crime watchdog means that companies behind casinos in five of the largest Australian cities are now being probed for potential […]

The post Australian financial crime watchdog expands anti-money laundering probe appeared first on World Casino News.

In Australia, casino operator Crown Resorts Limited is reportedly set to be investigated by government officials after three former employees accused the Melbourne-based giant of deliberately tampering with some of its slot machines along with ignoring evidence of domestic violence and drug abuse. According to a report from the British Broadcasting Corporation (BBC), the claims came to light via a 30-minute video presented to the nation’s Parliament on Wednesday by independent politician and anti-slot campaigner Andrew Wilkie. The whistleblowers purportedly […]

The post Crown Resorts Limited facing Melbourne slot-tampering investigation appeared first on World Casino News.