Thursday, June 13, 2024

SkyCity faces possible temporary suspension of NZ casino licence

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The review will look into SkyCity’s operations and if it is suitable to hold a casino licence.
Photo: RNZ / Marika Khabazi

Regulatory worries are set to continue for casino operator SkyCity, with the resumption of an independent review into the suitability of its Adelaide casino licence.

The review was launched in 2022 but was paused in 2023, as the company faced court proceedings against the same casino for breaches of anti-money laundering and counter-terrorism financing rules in South Australia.

The court proceedings have now concluded, with the Adelaide casino ordered to pay $73.6 million over the breaches.

In a share market announcement on Wednesday, SkyCity said the review’s findings would be reported to the South Australian Liquor and Gambling Commissioner by the end of 2024 – although the deadline could be extended.

The review would look into SkyCity’s operations to ensure the company was still suitable to hold a casino licence.

Similar probes into rival casino companies in Australia found a number of shortcomings.

SkyCity also faces the threat of a temporary suspension of its New Zealand casino licence for breaches of its host responsibility code.

The company was recently ordered to pay $4m after admitting breaches of anti-money laundering and counter-terrorism financing laws in New Zealand.

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