Star Tumbles 23% on Report It Enabled Suspected Laundering
- Sydney Morning Herald says Star has enabled organized crime
- Australian casino operator says some assertions ‘misleading’
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Star Entertainment Group Ltd. shares tumbled 23% after the Sydney Morning Herald reported the company has enabled suspected money laundering, organized crime and fraud at its Australian casinos for years.
Star’s market value plunged to A$3.1 billion ($2.3 billion) in Sydney trading after the newspaper said Star wooed big-spending gamblers allegedly linked to criminal or foreign-influence operations between 2014 and 2021.