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Sydney’s Star Casino complex is seen illuminated at night, February 15, 2016. REUTERS/Jason Reed
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March 30 (Reuters) – Australia’s Star Entertainment Group (SGR.AX) faces a class action over allegations that it failed to comply with disclosure requirements, the company said on Wednesday, amid a public inquiry into the group’s casino operations in Sydney.
The lawsuit claimed Star Entertainment had engaged in “misleading or deceptive conduct” between March 29, 2016 and March 16, 2022 about its systems, controls, operations and regulatory risks in Australia, the casino operator said in a statement.
Star Entertainment, whose shares have dropped more than 12% so far this year, said it intends to defend the proceedings.
The lawsuit, launched by Melbourne-based law firm Slater & Gordon (SGH.AX) in the Supreme Court of Victoria, comes amid a public inquiry into the casino operator’s competency to hold its casino licence in Sydney, after media reports of possible breaches of anti-money laundering and counter-terrorism laws at its casinos.
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Reporting by Riya Sharma; Editing by Sherry Jacob-Phillips
Our Standards: The Thomson Reuters Trust Principles.
