New Zealand’s High Court has approved a civil penalty of NZ$4.16 million (US$2.54 million) against SkyCity Casino Management Limited (SCML) – operator of SkyCity Entertainment Group’s New Zealand casinos – for historic breaches of the New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009
The penalty was first announced by New Zealand’s Department of Internal Affairs (DIA) in May.
According to details announced by SkyCity on Thursday morning, the company now has 15 working days to pay the civil penalty at which time the DIA’s civil proceedings will come to an end.
SkyCity CEO Jason Walbridge said, “SkyCity is aware that, as a casino operator, we have a responsibility to combat money laundering and terrorism financing. This is a responsibility we take very seriously. We will continue to upgrade our anti-money laundering and counter-terrorism financing systems to ensure we meet both our regulatory obligations and the expectations of the communities in which we operate.”
The company previously reached an AU$67 million (US$45 million) agreement with Australian anti-money laundering watchdog AUSTRAC for historical AML failures at its Australian casino, SkyCity Adelaide.
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