Brief: Skycity Entertainment Updates On South Australian Casino Duty Dispute

Skycity Entertainment

16/10/2024 01:29

Oct 16 (Reuters) - Skycity Entertainment Group Ltd
 SKC.NZ :
    * UPDATE ON SOUTH AUSTRALIAN CASINO DUTY DISPUTE
    * HIGH COURT OF AUSTRALIA DELIVERED JUDGMENT ON SKYCITY
ADELAIDE
PTY APPEAL OF SOUTH AUSTRALIAN COURT OF APPEAL'S JUDGMENT
    * ESTIMATED SKYCITY ADELAIDE IS NOW OBLIGED TO PAY
ADDITIONAL
CASINO DUTY OF A$10.3 MILLION TO JANUARY 2024
    * AS AT 30 JUNE 2024, SKYCITY HAD NOT RECOGNISED A PROVISION
IN
RELATION TO POTENTIAL EXPOSURE TO PENALTY INTEREST
    * ESTIMATED SKYCITY ADELAIDE IS NOW OBLIGED TO PAY
ADDITIONAL
CASINO DUTY OF A$10.3 MILLION TO JANUARY 2024
    * IF SUPREME COURT'S DECISION UNFAVOURABLE TO SKYCITY
ADELAIDE,
MAY PAY PENALTY INTEREST ON ADDITIONAL CASINO DUTY OF A$25.3
MILLION

Further company coverage:  SKC.NZ 

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