Star Entertainment chair says 'fire is out' despite ongoing challenges

Summarised from 2 outlets · Updated 27 Oct, 04:50 · Archive

Star Entertainment faces hundreds of millions in potential penalties for anti-money laundering breaches as new chair Soo Kim predicts recovery.

Star Entertainment faces potential penalties of hundreds of millions of dollars for anti-money laundering breaches spanning years. The Sydney and Gold Coast casino operator has dealt with scandals involving money laundering, organised crime infiltration and governance failures, leading to license suspensions.

US gaming giant Bally's Corp acquired a 38 per cent stake in Star as part of a $300 million rescue package in 2025, allowing its chair Soo Kim to step up to the same position at Star nine months ago. At the company's annual general meeting in Sydney on Tuesday, Mr Kim said: 'I didn't come here to say mission accomplished. I came here to say, the fire is out, and now the rebuilding starts.'

Mr Kim identified poor treatment of high-spending gamblers as Star's primary challenge and opportunity. He told shareholders he was 'mystified, horrified by how we've been treating our VIPs of late'. Many high rollers cannot get through Star's enhanced due diligence and know-your-customer requirements. Star has long dealt with regulatory consequences after high rollers with organised crime links were permitted to launder money at its casinos.

How it is being reported

• 'The fire is out' but problems remain at casino groupThe new Star Entertainment chair is horrified at how the casino company treats lucrative high roller gamblers, as it prepares to face a court judgement.Perth Now · 27 Oct, 04:22
• 'The fire is out' but problems remain at casino groupThe new Star Entertainment chair is horrified at how the casino company treats lucrative high roller gamblers, as it prepares to face a court judgement.The West Australian · 27 Oct, 04:22

In this story: Star Entertainment Group · Soo Kim · Bally's Corp · Sydney · Gold Coast · Brisbane

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem