SkyCity Adelaide agrees to A$67M settlement with AUSTRAC
SkyCity Adelaide and the Australian Transaction Reports and Analysis Centre (AUSTRAC) have reached an agreement to settle civil penalty proceedings started in response to the...
Australian minister plans huge fine increase for SkyCity
Minister for Australian Consumer and Business Services Andrea Michaels wants to amend the legislation to increase the penalties for Adelaide’s casino operator.
She wants to increase the maximum penalties from its current sixty-five thousand dollars to $48.6 million. This is the first time the law has been altered since 1997. According to Michaels, this modification is necessary to ensure that South Australia’s sanctions are equal to those in other states.
The Liquor and Gambling Commissioner in South Australia will have additional authority under the Casino Act if the new bill is passed. They will have the authority to determine whether the casino maintains its license, undertake investigations, and penalize SkyCity, the operator of the casino, for any violations.
This adjustment is made while SkyCity is being investigated by the federal and state governments. AUSTRAC, an organization that monitors money laundering and the funding of terrorism, filed a lawsuit against SkyCity Adelaide in 2022 on the grounds that they were not abiding by the regulations. SkyCity returned to court in June after agreeing to pay a sizable fine in February.
SkyCity’s Michael Ahearne to leave CEO position
The CEO of SkyCity Entertainment, Michael Ahearne, has announced his forthcoming departure from the company.Following a more than half-decade-long tenure at the company,...
