Australia's largest listed casino company, The Star Entertainment Group, has been fined $260 million over historical money laundering violations.
The penalty handed down by Justice Cameron Moore in the Federal Court today. Star had said a penalty steeper than $100 million could force it into liquidation.
The Star Entertainment Group owns casinos in Sydney and the Gold Coast and runs one in Brisbane.
Australia's financial intelligence agency, AUSTRAC, launched legal action against it in 2022.
It accused the company of not adequately addressing the money laundering risks that arose from Star's dealing with Asian gambling junket Suncity and its funder, as well as continuing to deal with them despite becoming aware of reports of criminal links.
Justice Moore said the $100 million penalty sought by Star was too low, but the $400 million penalty sought by AUSTRAC was too high.
He ordered the penalty be paid in four instalments over 19 months.
Two former Star executives were handed penalties for breaching the Corporations Act earlier this year.
