Sydney’s Star On line casino advanced is seen illuminated at night time, February 15, 2016. REUTERS/Jason Reed
March 30 (Reuters) – Australia’s Star Leisure Group (SGR.AX) faces a category motion over allegations that it didn’t adjust to disclosure necessities, the corporate mentioned on Wednesday, amid a public inquiry into the group’s on line casino operations in Sydney.
The lawsuit claimed Star Leisure had engaged in “deceptive or misleading conduct” between March 29, 2016 and March 16, 2022 about its techniques, controls, operations and regulatory dangers in Australia, the on line casino operator mentioned in an announcement.
Star Leisure, whose shares have dropped greater than 12% up to now this yr, mentioned it intends to defend the proceedings.
The lawsuit, launched by Melbourne-based regulation agency Slater & Gordon (SGH.AX) within the Supreme Court docket of Victoria, comes amid a public inquiry into the on line casino operator’s competency to carry its on line casino licence in Sydney, after media studies of attainable breaches of anti-money laundering and counter-terrorism legal guidelines at its casinos.
Reporting by Riya Sharma; Enhancing by Sherry Jacob-Phillips
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