Bally’s says it recognises the seriousness of the historical conduct underlying the proceedings

Company points to significant operational improvement, regulatory progress and strengthened leadership since Bally’s investment Bally’s Corporation has said it supports The Star’s acceptance of the Federal Court of Australia’s decision in the Australian Transaction Reports and Analysis Centre proceedings related to historical violations of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The Federal Court imposed a penalty of $260m, payable in four instalments over 19 months. The proceedings relate to historical conduct that occurred prior to Bally’s investment in The Star and before the appointment of The Star’s current board and executive leadership.