The question posed by Star’s financial struggles and concerns about its Queen’s Wharf partner is whether any casino in Australia can be profitable without dirty money.
Already a subscriber?It would be a failure in political leadership if the Queensland government gives Star Entertainment Group a tax break to help bail out the disgraced casino operator from its self-inflicted financial woes.
In May, the Queensland government waved away concerns about Hong Kong-based conglomerate Chow Tai Fook Enterprises’ alleged relationship in a casino in Vietnam with Chinese high-roller “junket king”, suspected money launderer, and alleged triad associate Alvin Chau. Labor is seemingly headed for defeat at the October state election. It would be politically embarrassing if Star is forced to cash in its chips and close the house before polling day. But any government-subsidised bailout would be an abuse of taxpayers’ money given the question marks over Star’s business model.Star is also struggling due to a drop-off in high rollers, mostly from Asia.
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