• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 4 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

SkyCity reaches US$2.5 million agreement to settle historical AML failures at New Zealand casinos

Newsdesk by Newsdesk
Tue 21 May 2024 at 06:20
New Zealand to stay closed to foreign travellers until 30 April 2022

Auckland, New Zealand

15
SHARES
384
VIEWS
Print Friendly, PDF & Email

Days after reaching an AU$67 million (US$45 million) agreement with Australian anti-money laundering watchdog AUSTRAC for historical AML failures at its Adelaide casino, SkyCity Entertainment Group has reached a similar agreement with New Zealand’s Department of Internal Affairs (DIA) to resolve civil penalty proceedings commenced in February 2024.

Under the terms of the agreement, SkyCity has admitted that it breached its obligations under the New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 to undertake and review a fully-compliant risk assessment, establish, implement, and maintain a fully-compliant AML/CFT compliance programme, adequately conduct account monitoring, conduct compliant enhanced customer due diligence and terminate business relationships when required.

The breaches span from 2018 to 2023, with SkyCity and the DIA to jointly recommend that the High Court of New Zealand impose a civil pecuniary penalty of NZ$4.16 million (US$2.54 million).

SkyCity Executive Chair Julian Cook said, “SkyCity has been subject to regulatory enforcement action in both Australia and New Zealand and those regulators are rightly holding SkyCity to account.

“Over the past few years, considerable progress has been made towards upgrading our anti-money laundering and countering terrorism financing (AML/CFT) systems. This does not lessen the seriousness with which we take these breaches and we are disappointed that SkyCity is in this position. As a casino operator, we play a key role in combatting money laundering and terrorism financing and we take that responsibility seriously.

“On behalf of the SkyCity Board and management team, I accept and apologize for these long-standing failings.

“We have fallen short of the standards we should hold ourselves to, alongside failing to meet the expectations of our regulators, customers, shareholders and the communities we are part of. We are committed to, and have begun, delivering the level of change that is required to meet these expectations.”

RelatedPosts

Global operators asked to register interest as New Zealand moves forward with online gambling regulation

New Zealand introduces Online Casino Gambling Bill to parliament

Tue 1 Jul 2025 at 06:14
Global operators asked to register interest as New Zealand moves forward with online gambling regulation

Global operators asked to register interest as New Zealand moves forward with online gambling regulation

Tue 24 Jun 2025 at 06:25
Winds of change

European Commission removes Philippines from list of high-risk jurisdictions on improved AML regime

Thu 12 Jun 2025 at 05:25
SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

Fri 6 Jun 2025 at 06:41
Load More
Tags: anti-money launderingNew ZealandsettlementSKYCITY Entertainment Group
Share6Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Wynn Al Marjan Island releases first renderings of uber-luxury Enclave suite and apartment offering

Wynn Al Marjan Island releases first renderings of uber-luxury Enclave suite and apartment offering

by Ben Blaschke
Fri 4 Jul 2025 at 05:59

Wynn Resorts has released first images of its elite suite and apartment offering at Wynn Al Marjan Island, to be known as Enclave and located on the uppermost levels of the UAE integrated resort. According to information published overnight, the...

The 2024 Asian Gaming Power 50

Bally’s ready to pull out of Star rescue deal if AUSTRAC issues monster fine

by Ben Blaschke
Fri 4 Jul 2025 at 05:37

US casino operator Bally’s Corp may have to withdraw from its multi-million-dollar rescue of Star Entertainment Group should the embattled Australian firm be hit with a massive fine by AML watchdog AUSTRAC. Bally’s chairman Soo Kim made the revelation –...

Grand Korea Leisure books US$11.4 million profit in 1Q25 on higher casino sales, better margins

Grand Korea Leisure reports sequential gain but year-on-year decline in casino revenue to US$25.5 million

by Newsdesk
Fri 4 Jul 2025 at 04:52

Foreigner-only casino operator Grand Korea Leisure (GKL) reported casino revenue of KRW34.8 billion (US$25.5 million) in June, representing a 13.6% increase over May although down 6.0% compared with the same month last year. The sequential increase follows a similar trend...

Inside Thai IRs

Thailand’s opposition party, civic groups petition government to withdraw casino bills

by Ben Blaschke
Thu 3 Jul 2025 at 14:32

Thailand’s opposition People’s Party has joined a coalition of civic groups in calling for the government to withdraw the two bills that would legalize land-based and online casino style gambling across the country. According to The Bangkok Post, the groups...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English