Money Laundering Central To Qld Star Probe
Queensland's attorney-general has urged anyone with concerns about Star Entertainment to refer them to an inquiry, after media reports linked a key shareholder in its Brisbane casino development with Chinese crime figures. "There's the issue of some persons being actively encouraged to come to Queensland, and being given benefits to do so even though, and this might be an understatement, red flags existed," Mr Horton told the hearing. Chow Tai Fook is understood to have been aware of the potential concerns, removing certain identities from its formal Queens Wharf bid amid concerns they would be unlikely to pass the Casino Control Act's "fit and proper" test, reports claimed.
"Clearly, in the regulatory environment we're working our way through it was appropriate to consider a higher level of risk and so we effected that through the weighted average cost of capital. The consequence of that was an impairment on the Sydney property," interim Chairman Ben Heap told AAP. Federal MP Kevin Hogan's electorate of Page includes the towns of Casino, Dunoon, Evans Head, Grafton, Iluka, Kyogle, Lismore, Nimbin, Sapphire Beach and Wooli which were hit by catastrophic floods in February and March.
Star is also facing competition from bigger rival Crown, which opened the doors of its Sydney casino earlier this month following the long-delayed green light from the NSW watchdog, after recently emerging from its own regulatory troubles. 21 (tie). Live and Let Die Roger Moore's first James Bond movie is, well, another middling effort -- at least per the critics. In retrospect, ibet this 1973 film may have suffered by comparison with the just-concluded Sean Connery era.
Public hearings into Star's suitability to hold a casino licence began in Brisbane on Tuesday, with counsel assisting Jonathan Horton, QC, confirming the issue of money laundering will play a central role. Senior Star managers knew the ban was a potential "red flag", but decided the person deserved the same treatment as its other loyalty program customers, ibet including gifts like the watch and free accommodation. Star's fortunes have sagged in recent months amid regulatory scrutiny after hearings at an NSW inquiry unearthed allegations about money laundering, fraud and links to organised crime at its Sydney casino.
"We are absolutely committed to ensuring Queensland casinos operate lawfully and in a way that maintains high standards of integrity and public confidence," Ms Fentiman told AAP in a statement on Monday. The ABC reports Hong Kong firm Chow Tai Fook, which received state government approval to take a stake in Star's $3.6 billion Queens Wharf development in Brisbane, has links to notorious Chinese organised crime.
"That sort of run rate is very encouraging. It indicates our growth sits above pre-COVID numbers, and given all the factors that we're facing at the moment, the underlying performance of the business has been terrific," Mr Heap said. On Her Majesty's Secret Service broke new ground: It featured a James Bond wedding, with Diana Rigg as 007's feisty but ill-fated bride, Tracy di Vincenzo. At the box office, though, the film fell flat with an $82 million worldwide gross.
