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© Reuters. FILE PHOTO: Visitor rooms at a lodge above Sydney’s Star On line casino advanced are seen illuminated at evening, February 15, 2016. Australia’s No. 2 on line casino firm, Star Leisure Ltd mentioned first-half web revenue slumped by greater than a 3rd as an unusually giant
(Reuters) – Australian on line casino operator Star Leisure Group Ltd on Monday mentioned it faces a second class motion lawsuit over allegations of failure to adjust to disclosure necessities concerning anti-money laundering and counter-terrorism financing guidelines.
The category motion, filed by regulation agency Maurice Blackburn, alleges that between March 29, 2016 and March 16, 2022, Star made deceptive representations about its programs and processes for compliance with anti-money laundering and counter-terrorism financing obligations, Star mentioned in an announcement.
The lawsuit additionally accuses Star of failing to reveal related data to the market and “performed its affairs opposite to the pursuits of the members of The Star as a complete”, in accordance with the assertion.
Star mentioned it’ll defend itself towards the category motion, including that the declare was “considerably related” to the category motion filed by one other regulation agency Slater & Gordon in March earlier this yr.
The Brisbane-based on line casino agency’s shares have dropped 19% in a yr marked with investigations and scrutiny of its operations over its alleged failure to stop cash laundering and felony exercise.
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