Wednesday, April 24, 2024

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SkyCity sets aside $29.25mln for potential AUSTRAC fines

Australia and New Zealand gaming operator SkyCity has announced that it’s set aside some AU$45 million ($29.25 million) as a provision for possible civil penalties and legal costs resulting from an investigation by Australia’s financial watchdog.

Your Daily Asia Gaming eBrief: Australian judge slams AUSTRAC on Crown case

So many results out, but first to the juicy bits.

SkyCity sees 167 percent increase in profit during 1H23, warns AUSTRAC proceedings could take up to 2 years

New Zealand and Australia casino operator SkyCity has announced that it saw 167.8 percent increase in its net profit during its fiscal first half-year, ending December 31st, topping NZ$22.8 million ($14.44 million), as group-wide revenue rose by 59.6 percent, to NZ$462.6 million ($293.07 million), year-on-year.

SkyCity Adelaide casino suitability review put on hold until after AUSTRAC lawsuit resolved

SkyCity Entertainment Group has announced that the independent review into its suitability to operate its SkyCity Adelaide property has been put on hold, pending the resolution of the civil proceedings filed against it by the Australia’s financial crimes watchdog AUSTRAC.

SkyCity Adelaide had 59 instances of high money laundering risk customers: AUSTRAC

SkyCity Entertainment could face fines of up to AU$60 million, as a result of the civil proceedings launched against SkyCity Adelaide by Australia’s financial crimes watchdog.

Your Daily Asia Gaming eBrief: AUSTRAC takes SkyCity Adelaide to Federal Court

Australian gaming companies continue to face the music, with SkyCity Adelaide leveled with charges by the country's financial crimes watchdog (AUSTRAC) over 'serious and systemic' breaches of anti-money laundering legislation.

AUSTRAC takes SkyCity Adelaide to Federal Court for ‘serious and systemic’ anti-money laundering breaches

Australia’s financial crimes watchdog has announced that it’s commencing civil penalty proceedings in the Federal Court against SkyCity Adelaide for ‘alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing laws’.

AUSTRAC serves The Star with statement of claim, penalty amount not detailed

Australian casino operator The Star says that it has been served with a statement of claim from the nation’s financial crimes watchdog AUSTRAC, which is ‘commencing civil penalty proceedings in relation to alleged contraventions of obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act’.

Your Daily Asia Gaming eBrief: AUSTRAC puts bookmakers on notice with audit

Australia's financial crime watchdog is on a roll, telling bookmakers to “lift their game” as it turns its audit from Entain to Sportsbet and Bet365.

AUSTRAC investigating Sportsbet and Bet365 over money laundering suspicions

Australia's financial crime watchdog (AUSTRAC) is investigating Sportsbet and Bet365 on suspicion of failure to comply with anti-money laundering and counter-terrorism financing laws.