Saturday, July 13, 2024

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SkyCity implements further measures against money laundering

SkyCity's chief risk officer is introducing fresh measures to prevent criminals from using the casino for money laundering. This comes after the company faces significant fines in both New Zealand and Australia.

Heightened regulatory oversight and low gaming revenues continue to challenge SkyCity: S&P

S&P Global Ratings has affirmed its 'BBB-' long-term issuer credit rating of SkyCity Entertainment Group Ltd., reflecting the company's efforts to preserve its credit profile amid cyclically lower gaming revenues and elevated regulatory costs.

SkyCity Entertainment Horizon Hotel to open on August 1st

SkyCity Entertainment Group has announced has announced the completion of construction works for its five-star Horizon Hotel in Auckland, with opening now scheduled for August 1, 2024.

SkyCity divesting stake in online gaming platform Gaming Innovation Group

SkyCity Entertainment Group has announced that it is selling its entire shareholding in Gaming Innovation Group (GiG), which it acquired in April of 2022.

SkyCity: independent review into Adelaide casino license suitability recommences

SkyCity Entertainment has informed that, now that Australian courts have approved the penalty set out by Australia’s financial watchdog regarding its Adelaide casino, the independent review into its casino license suitability can resume.

Federal Court of Australia greenlights $44.6M fine for SkyCity Adelaide

The Australian Federal Court has granted approval to the agreement brokered by SkyCity Adelaide and the Australian Transaction Reports and Analysis Centre (AUSTRAC), resolving the civil penalty proceedings initiated by AUSTRAC in December 2022.

SkyCity granted appeal in casino duty dispute by Australian High Court

SkyCity Entertainment Group has announced that the High Court of Australia has granted SkyCity Adelaide special leave to appeal a ruling by the South Australian Court of Appeal.

SkyCity suspending dividends until end-2025, amongst slow environment/fine/capex

New Zealand and Australia gaming operator SkyCity Entertainment Group has announced that it will suspend its dividends for the second half of 2024 and for all of 2025, as it aims to ‘hold prudent levels of committed liquidity headroom’.

SkyCity agrees to $2.54M penalty in New Zealand for AML/CFT breaches

New Zealand and Australian gaming operator SkyCity Entertainment Group has announced that it has reached an agreement with NZ authorities over AML/CFT breaches and has agreed to pay a civil penalty of $2.54 million.

SkyCity Adelaide agrees to $44.5M penalty proposal with AUSTRAC

SkyCity Adelaide and the Australian Transaction Reports and Analysis Centre (AUSTRAC) have jointly submitted a proposal to the Federal Court of Australia, suggesting a...