Australian shares ended lower on Monday as Star Entertainment Group fell by more than a fifth on media reports that the casino operator failed to do enough to prevent money laundering and fraud at its resorts.
Australian shares slipped on Monday as tech stocks tracked Wall Street peers lower, while heavy losses in casino operator Star Entertainment's shares further weighed on the benchmark index.
Philippines President Rodrigo Duterte has lifted a moratorium on casino operations in the country's top holiday island to generate taxes for its COVID-19 pandemic response, the presidential spokesperson said on Saturday.
Casino company SkyCity Entertainment Group said on Friday it was expecting a jump of up to 33% in its fiscal 2021 adjusted profit, riding on strong trading at its electronic gaming businesses in New Zealand.
SkyCity Entertainment Group on Monday said Australia's financial crime regulator had launched an investigation into possible breaches of anti-money laundering and counter-terrorism laws at the firm's operation in Adelaide.