US casino operator Bally’s Corp may have to withdraw from its multi-million-dollar rescue of Star Entertainment Group should the embattled Australian firm be hit with a massive fine by AML watchdog AUSTRAC.
Bally’s chairman Soo Kim made the revelation – since picked up by Australian media – during a video interview with Inside Asian Gaming published earlier this week, warning that the combined AU$300 million (US$195 million) package offered by his company and Bruce Mathieson’s Investment Holdings was contingent on Star being solvent. Shareholders of Star, which has stated that any fine of more than AU$100 million would jeopardize its ability to continue, approved the rescue deal last week.
