The Star Entertainment Group has been linked to businessman and gambling industry mogul, Stanley Ho. Ho has picked up a bad reputation for himself after authorities learned about his supposed involvement in organised crime.
The Star Entertainment Group is rival to one of Australia’s biggest casino operators- Crown Resorts. Crown Resorts have also been placed under the spotlight recently due to allegations of links with criminal syndicates. News of the connection between The Star Entertainment Group and Stanley Ho comes as a surprise to many. It seems that two of Australia’s biggest casino operators are now involved and linked to persons accused of criminal activity.
The Star Group- Stanley Ho Connection Breakdown
The Star Group like many other businesses is financed by shareholders, and one of its shareholders is Chow Tai Fook Enterprises. The company currently owns a five percent share at The Star and announced plans to increase its stake in the future. Chow Tai Fook Enterprises is owned by the wealthy Cheng Yu-tung family. This family also holds a ten percent stake in Stanley Ho’s SJM Holdings business, a major casino operator in Macau.
The company’s involvement with the Cheng Yu-tung family and Chow Tai Fook received much attention from media outlets in Australia. This is because Chow Tai Fook’s reputation is tainted and could mean trouble for The Star Entertainment Group. Stanley Ho is currently banned from having any interaction with Crown Resorts but it still allowed to engage with The Star Group. Many have questioned why that’s the case. Independent MP Justin Field, who started the whole inquiry, said he’s alarmed by how dependent Crown Resorts and The Star Group is on the finances provided by Asian high rollers. He is of the opinion that the funds injected into these enterprises is blood money.
The Star Groups Response
Representatives at the company have expressed confidence in their relationship with Chow Tai Fook. They say that the company has undergone extensive reviews and inquiry processes which proves that they are legal to operate in the market. They’ve also received regulatory approval, which confirms that there is no need for concern at this point.
At this time, it’s unclear whether gaming regulators will launch an investigation into The Star Group. The investigations into rival company, Crown Resorts is still ongoing.
Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
Recently updated on September 26th, 2018While the UK Gambling Commission (UKGC) has been cracking down on gambling operators, one market remains saturated. According to new figures, sports books have spent millions in sponsorships for English Premier League (EPL) kits. This brings bookies to a global stage, as the EPL is one of the most popular […]
Recently updated on July 24th, 2019 Microgaming, the slot machine manufacturer and powerhouse, has announced the coming return of its iconic Jungle Jim slot earlier this month. This signifies the games second return after its successful debut three years ago. Jungle Jim and the Lost Sphinx has 5 by 5 reels and 50 paylines. The […]
Recently updated on July 24th, 2018It seems like 2018 is the year for big mergers in the gambling industry. At the front of this wave is the Stars Group, a Canadian gambling firm. With a hefty amount of deals under their belt, the company is now looking forward to a PokerStars SkyBet combo. That is, […]
Recently updated on August 13th, 2018William Hill Australia is no more after combining with CrownBet as BetEasy. The merger, which was announced in early 2018, will consolidate the Australian betting industry. CrownBet won the bidding process and agreed to stop using the William Hill branding by October. However, their decision to change to BetEasy was […]
Recently updated on June 29th, 2019There are 61 poker machines in the town of Otaki in New Zealand which is over than 42, a number recommended by the council. Gamblers are calling for stricter restrictions. Players are falling victim to the poker machines and easy access has been identified as the main problem. The Kapiti […]
