SkyCity Entertainment Group of Australia announced last week that an independent review of its suitability to hold a gaming license in Adelaide must wait until the conclusion of a civil case filed against it by the Australian Transaction Reports and Analysis Centre (AUSTRAC).
The review was initiated in July 2022, with results originally due by February 1. But in December, the watchdog agency filed its civil suit, pushing the first case to the back burner.
In a February 7 filing, SkyCity quoted the gaming commission, which said “it is not possible to determine reliably the question of suitability” until the AUSTRAC case reaches a conclusion. The review is now “on hold.”
According to Asia Gaming Brief, analysts say SkyCity’s could be subject to fines of more than $40 million if found guilty of money laundering.
To date, AUSTRAC has found 100-plus cases in which SkyCity allegedly failed to conduct due diligence on gamblers and 59 instances in which customers posed a high risk for money laundering.
