Star Casino Cover Up Huge Amount Of Highly Illegal Transactions

Chinese-owned Star Casinos are accused of covering up a huge amount of illegal transactions which could leave them in hot water with the local authorities. Despite all the interest from local government and police forces, there hasn’t been much discussion from any media outlets or public forums, it seems to have flown quietly under the radar for quite some time. That is all about to change as a government spokesperson is set to appear live on Chinese television and discuss the occurring investigation among many other things including the state of the COVID-19 lockdowns. How will it all go down? Keep reading to find out!

The Chinese authorities are desperate to look into the financial affairs of Star Entertainment after almost $60million worth of illegal transactions were discovered to be unreported to tax officials. ©Daniel_B_photos/Pixabay

The Star Entertainment group is one of the biggest gambling consortiums based in China, while they don’t operate any land-based casinos in the country, they own a massive number of firms around the world, mostly in Europe and America as they are the world’s biggest markets for online gambling. It has become so big that during lockdown, staggering umbers were registered for new users on online betting platforms, it became a huge issue in a number of countries as governments decided to reign in the new found excitement for the activity. Whether it will last is another question, but statistics show that it is still as popular as ever.

The Star Casino are said to have made a huge blunder in terms of their financial dealings. The investigation has revealed that the group hid roughly $60million worth of transactions from the local banks and tax authorities. All of this cash was made from customers wagering and betting hard earned money and it has now lead to one of the biggest scandals in Asian gambling in years. Various news outlets are reporting different figures, but the general consensus seems to be in and around the figure presented. This is all subject to confirmation from the police so it should be proven sometime in the near future.

Subject to speculation, there isn’t much evidence that has been released to the public. Police and local authorities are very keen to keep a tight ship and only release information when absolutely necessary. This is often the case in these kind of cases as the wrong kind of evidence can alert the suspects to the movements of the police and compromise the secrecy of the investigation. While Star Entertainment are perfectly aware of the government interference they are continuing as normal until any restrictions are placed upon them which is looking extremely likely as the authorities strengthen their grip.

This could be devastating for the business of Star Casino as they are one of the most successful land-based casino brands in North America and Central Europe. Despite being owned by a Chinese firm they have been extremely successful further west, and this has helped to raise suspicion towards them from the authorities. The allegations against them date all the way back to 2016 but there is unlikely to be a quick resolution in sight. The authorities have been aware of these details for some time, but it seems that now is the time they are choosing to thoroughly act against them.

How Will Star Casino Cope?

They have been through extremely tough times before, so this won’t be anything new to them. They have managed to wade through several criminal injunctions, which once saw one of their casino brands taken hostage by a gang of criminals. They managed to capture civilians in the process making the situation particularly difficult for the police to resolve. After almost 24 hours of staking the place out the criminals eventually gave themselves out and thankfully no one was seriously hurt. Despite this unpleasant situation the casino firm managed to reopen the location less than a week later while complying with regulations and after boosting security efforts of course.

A certain type of bank card has allowed the company to keep a handful of major transactions under the radar. The UnionPay cards were banned by the Chinese government and taken off the tax register as a viable method of payment. Thanks to this the company realised they could use this to take incognito payments and they wouldn’t show up in the system. This has lead to police snooping through many of their financials and despite the accountants best efforts to cover up the damage has been done. There seems to be some sort of scathing evidence against them as the police are more than determined to prosecute executive members at this point in time.

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