New Zealand High Court fined SkyCity
A penalty of NZ$4.16 million has been imposed on SkyCity Casino Management by the High Court in New Zealand.
SkyCity Entertainment, founded in 1996, is a gambling and...
SkyCity Auckland projects $3M loss from five-day shutdown
Significant financial implications will occur as a result of SkyCity Entertainment Group‘s temporary closing.
It was previously SkyCity Entertainment Group is to close for 5 days that the SkyCity Entertainment Group is closing down its casino in Auckland for five days following a five-year host duty violation prosecution by Internal Affairs.
SkyCity revises its projection for EBITDA in FY25 from NZ$245 million (US$148.93 million) to NZ$265 million (US$161.1 million).
This would only be effective if the Gambling Commission approved the Secretary’s request to pull back a stop-gap application for suspension of operations since a complaint was made in February 2022.
Speaking of the event, SkyCity’s Chair, Julian Cook, noted:
“Reaching this agreement to close the SkyCity Auckland gambling area for five days resolves this matter. However, there is still considerable work required and underway to improve our risk systems, including our approach to mitigating financial crime and problem gambling.“
After inquiries in fortunes just like both countries of New Zealand and Australia concerning the topic of renewing its administration and procedures on anti-money laundering and combining the financing of terrorism, SkyCity decided to go for it.
Therefore, SkyCity is expected to introduce mandatory carded play across its NZ casinos by mid-2024, before doing the same at SkyCity Adelaide towards the close of 2024.
SkyCity named its new managing director for Adelaide
Avril Baynes has been appointed the new managing director for SkyCity's Adelaide casino.
SkyCity Entertainment, founded in 1996, is a gambling and entertainment company...
