Federal Court orders Star Entertainment to pay AUD 260 million in penalties
Australia’s Federal Court ordered The Star Entertainment Group to pay AUD 260 million over anti-money laundering and counter-terrorism failings at its Sydney and Queensland properties, according to the report. The penalties relate to conduct from 2016 to 2022 and are due in four equal instalments over 19 months, with the first expected within 28 days of the 28 October decision. The Star said the amount and payment terms trigger a review event under its WhiteHawk credit facility and that it is engaging with WhiteHawk.
The penalty triggers a WhiteHawk credit-facility review event, making the company’s financing discussions consequential.