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Australia's The Star vows AML overhaul, in bid to keep its state-based gaming license

( September 28, 2022, 02:24 GMT | Official Statement) -- MLex Summary: Embattled gambling company The Star Entertainment has revealed plans designed to convince regulators in the eastern Australian state of New South Wales not to revoke its license to operate. In a statement to the Australian Securities Exchange, The Star said its plan involved replacing all managers involved with The Star casinos’ money-laundering policy failures, while vowing to have a final plan ready for the regulator by the end of October.  “We have overhauled our approach including undertaking a frank and rigorous assessment of the root causes of our unsuitability,” The Star said. The undertakings are a response to the show-cause notice issued by the New South Wales Independent Casino Commission, following a damning report into the gambling operator’s AML shortcomings.The Star Entertainment's full statement to the Australian Securities Exchange is attached. ...

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