The Star (ASX:SGR) to address allegation claims

Casino operator Star Entertainment (ASX:SGR) has responded to recent media reports, claiming that a number of allegations made against them are “misleading”. 

Star said they will take the appropriate steps to address all allegations, from money laundering and large scale fraud, with relevant state and federal regulators and authorities. Mr Adam Bell SC will undertake a regular review of The Star Sydney in accordance with the Casino Control Act 1992 (NSW).

“The Star operates in a heavily regulated industry. We are subject to thorough and ongoing regulatory oversight including compliance checks and reviews across the company’s operations in NSW and Queensland,” said the company.

The Star also notes the recommendations of the Bergin Inquiry, which were supported by the NSW Government on 18 August this year. These recommendations will impact the regulation of casinos in NSW and are supported by Star.

Shares in the Star Entertainment Group (ASX:SGR) are trading 17.8 per cent lower at $3.52.