Star Entertainment (SGR ASX) chair Soo Kim says $260 million fine won’t be the death of the casino operator
Afr
Star Entertainment chairman Soo Kim says a $260 million money laundering fine will not bankrupt the casino operator.Summary
Star Entertainment chairman Soo Kim stated that the $260 million fine imposed on the gaming and hotel giant for failing to address widespread money laundering will not cause the company to collapse. This contradicts the company's earlier argument in the Federal Court that a penalty exceeding $100 million would force it out of business. Kim, who also chairs Star's largest investor, Bally's Corporation, noted that circumstances have changed since that court submission.
(Source：Afr)