SYDNEY, July 11 (Reuters) - An Australian court signed off on a A$450 million ($300 million) fine for Blackstone-owned (BX.N) casino operator Crown Resorts for breaking anti-money laundering laws, ending the darkest chapter in the company's history.
read moreBut the fine needed the sign-off of the federal court, which approved the penalty, Australia's third-largest corporate fine, on Tuesday.
Crown, which was bought by Blackstone after the events at the centre of the scandal took place, said in a statement that the court approval brings an end to the historical anti-money laundering and counter-terrorism financing "failures at Crown".
The fine takes Crown's total penalties to A$680 million since it was rocked by accusations of ignoring organised crime and employee safety in hearings since 2020.
($1 = 1.4959 Australian dollars)Reporting by Byron Kaye Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.
Persons:
James Packer, Michael Lee, Lee, Blackstone, Byron Kaye, Shri Navaratnam
Organizations:
SYDNEY, Blackstone, Crown Resorts, Crown, Thomson