SkyCity says its casino unit to face anti-money laundering case (updated)

Skycity Entertainment

11/02/2024 20:15

(Adds liability amount in paragraph 2, quote in para 3,
department's lack of response in para 5)
       Feb 12 (Reuters) - New Zealand's casino operator SkyCity
Entertainment  SKC.NZ  said on Monday the 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.
    SKyCity said it is liable to pay a maximum of NZ$8 million
($4.91 million) for the breach.
    ‍"Skycity is disappointed that it has not met the standard
to which it needs to hold itself, and this has resulted in
action taken by Department," the company said in a statement.
    SkyCity said the company and SCML will engage constructively
with the Internal Affairs Department for the proposed
proceedings. 
    The department did not immediately reply to a request for
comment. 
    In September, the Department applied for a temporary
suspension of SCML's licenses after it did not meet some
conditions. SCML holds the company's licence for casinos located
in Auckland, Hamilton and Queenstown in New Zealand.
 ($1 = 1.6281 New Zealand dollars)

 (Reporting by Poonam Behura;
Editing by Andrew Cawthorne)
 ((Poonam.Behura@thomsonreuters.com;))