Australia’s financial regulator ASIC said this week that it was responsible for casino operator Star Entertainment Group including an additional AU$150 million (US$101 million) in provisions for expected fines and penalties in its financial report for the six months to 31 December 2022.

As previously reported by Inside Asian Gaming, Star last week announced a net loss after tax of AU$1.26 billion (US$858 million) for 1H23, which included AU$1.31 billion (US$892 million) in “significant items” – namely impairment of Sydney property assets, penalties and costs associated with regulatory reviews, among others.

ASIC this week claimed credit for AU$150 million of those significant items, stating it had previously raised concerns that no provision had been recorded in Star’s FY22 results for likely fines and penalties for non-compliance with Anti-Money Laundering and Counter-Terrorism Financing laws.