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Entain faces AU$22M fine in Australia over alleged AML violations

A high-stakes probe threatens Entain's expansion plans in Australia. Could past AML failures derail its bid for key gaming licences?

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1 min read
The image shows a building with a sign that reads "ABN AMRO" on the side of it, along with a board...
The image shows a building with a sign that reads "ABN AMRO" on the side of it, along with a board with text on it, railings, and glass windows with curtains. The text on the board indicates that the building is the headquarters of ABN-AMRO, and the text at the bottom of the image suggests that it is related to the news that the company has been fined $1.5 billion by the European Union.

Entain faces AU$22M fine in Australia over alleged AML violations

Gambling giant Entain is under investigation in Australia over potential anti-money laundering (AML) breaches. The Australian Transaction Reports and Analysis Centre (AUSTRAC) has launched the probe, which could result in fines of up to AU$22 million (US$15 million). The company has stated it is cooperating fully with authorities.

The scrutiny comes as Entain seeks new online gaming licences across the country, including bids for key contracts in Western Australia and Victoria. AUSTRAC’s investigation focuses on Entain’s operations between 2016 and 2020. The watchdog has been examining several sports betting firms as part of a wider campaign. If found guilty, the company may face penalties of up to AU$22 million.

This is not the first time Entain has faced AML-related fines. In the UK, it was hit with a record £17 million (US$21 million) penalty for similar failures. The ongoing Australian probe could take up to two years to complete.

The timing is critical for Entain, which is competing for lucrative licences. In Western Australia, it is vying to operate the state’s TAB, a contract currently held by Tabcorp. A guilty verdict in the AUSTRAC case might complicate its chances. Similarly, in Victoria, where the TAB licence is being auctioned, the investigation could pose a hurdle for the company’s bid.

Entain has publicly acknowledged the AUSTRAC inquiry. The firm maintains it is working closely with regulators to address any concerns. The outcome of AUSTRAC’s investigation will determine whether Entain faces financial penalties or operational restrictions. A guilty finding could also impact its ability to secure new licences in Western Australia and Victoria. The process is expected to stretch over the next two years.

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