South Australia to restart independent review of SkyCity's Adelaide casino (updated)

Skycity Entertainment

11/06/2024 22:42

(Adds background and company comment in paragraphs 3-5)
       June 12 (Reuters) - New Zealand's SkyCity Entertainment
 SKC.NZ  said on Wednesday that South Australia's gambling
regulator will restart the independent review of SkyCity's
Adelaide casino after it was put on hold last year.
    The review was paused in February last year pending
anti-money laundering proceedings filed by the Australian
financial crimes regulator.
    Earlier this month, the casino operator resolved the matter
after a federal court approved its agreement to pay Australian
Transaction Reports and Analysis Centre (AUSTRAC) a penalty of
A$67 million ($44.3 million).
    The review, which recommences immediately, is expected to
complete by the end of this year.
    "SkyCity and SkyCity Adelaide will continue to cooperate
with Consumer and Business Services and the Acting Commissioner
in relation to the independent review," SkyCity said.

 ($1 = 1.5135 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru; Editing by Shounak
Dasgupta)
 ((Sherin.Sunny@thomsonreuters.com))