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Star Entertainment's management and board cannot shirk responsibility for turning a blind eye to money laundering risks by pointing the finger at each other, ASIC has told a court.
Embattled casino operator The Star says a trial in AUSTRAC's case should not be delayed until the finalisation of a $300 million buyout offer from Balley’s, as suggested by the financial crimes watchdog.
Star has agreed to a $300 million deal that will see the embattled company taken over by US-based casino operator Balley's.
The suspension of Star's NSW casino licence has been extended for a further six months, as the company works to stabilise its finances.
AUSTRAC has sought to suppress parts of its case against the operator of online gambling sites Ladbrokes and Neds, arguing the information should not get into the hands of criminals.
On questioning by a judge, Star's former top lawyer has denied making a mistake by failing to tell the board about issues with junket Suncity in May 2018, but said her view was different now with hindsight.
During trial on Monday, ASIC also accused Star's former top lawyer of giving false evidence about alleged cash for chip transactions in junket operator Suncity’s VIP room.
The Star's former CEO has told a court he thought a general counsel was “painting very dramatic pictures” when he voiced concerns about cash transactions in junket operator Suncity’s VIP room.
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Struggling casino operator The Star is in talks with investment manager Salter Brothers on a potential $940 million refinancing of all of its debt.