NZ's casino firm Skycity slides on proposed anti-money laundering case

Skycity Entertainment

11/02/2024 22:04

** Shares of New Zealand's casino operator Skycity
Entertainment Group  SKC.NZ  fall as much as 2.4% to NZ$2.03,
set for biggest drop since Dec. 19, if losses hold 
    ** Stock hits lowest level since Feb. 2 
    ** SKC says Internal Affairs Department plans to start civil
proceedings against its ‍Skycity Casino Management Ltd (SCML)
unit for breaching a law against money laundering and terrorism
financing
    ** Maximum liability for the breach is aggregate of NZ$8
million ($4.91 million) 
    ** Stock down 14.3% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru; Editing by Lisa
Shumaker)
 ((Poonam.Behura@thomsonreuters.com;))