SkyCity Adelaide to pay $14.7M fine to settle South Australia regulatory review

SkyCity settles for AU$21mln after regulatory crackdown

South Australia’s gambling regulator has struck an in-principle deal with SkyCity Adelaide and hit the casino owner with A$21 million (US$14.8 million) in fines and compliance and regulatory burdens. It’s the result of a damming 500-page report delivered by a former South Australian Supreme Court judge that “documented widespread and deep-seated non-compliance” in its AML, counter-terrorism financing, harm minimization and corporate culture from…

Analysts: Resolution of independent review paves way for SkyCity to offload Adelaide casino precinct, although sale unlikely

The news last week that New Zealand’s SkyCity Entertainment Group has reached a non-binding heads of agreement with South Australia’s gaming regulator to resolve all outstanding matters arising from an independent review into SkyCity Adelaide could pave the way for SkyCity to offload the Adelaide casino, according to analysts at investment firm Forsyth Barr. The agreement should also be seen as broadly positive for SkyCity as the agreed AU$21 mi…

SkyCity Adelaide to pay $14.7M fine to settle South Australia regulatory review

SkyCity Adelaide will pay a $14.7 million fine to settle South Australia review matters, with new governance commitments. The post SkyCity Adelaide to pay $14.7M fine to settle South Australia regulatory review first appeared on Asia Gaming News | AGB - Asia Gaming Brief.