SkyCity Adelaide Ordered To Appoint Independent Expert

Posted on May 31, 2023 | 8:49 am
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SkyCity Entertainment Group, the company that owns and operates five land-based casinos in Australia and New Zealand, has been ordered by authorities in South Australia to hold an independent review of its anti-money laundering, counter-terrorism financing and host responsibilities at SkyCity Adelaide.

The order was issued by Dini Soulio, the South Australian Liquor and Gambling Commissioner, following an investigation into the operator’s practices. The inquiry started in 2022 after both Star Entertainment and Crown Resorts, the main competitors of SkyCity, have been the subject of similar investigations.

The investigation will continue but the evidence gathered so far was enough to determine the Honourable Brian Martin AO KC, the Commissioner appointed by the local authority to review the activity of SkyCity Adelaide, to take action against the casino operator.

The company will have to appoint an independent expert which will oversee the modification of its anti-money laundering and counter-terrorism financing policies. The appointment of the aforementioned expert will have to be approved by the Commissioner himself.

The independent expert will then make any necessary amendments to SkyCity Adelaide’s anti-money laundering and counter-terrorism financing programs and also monitor the implementation of the policies. Moreover, the independent expert will oversee the casino’s harm minimization efforts and report his findings back to the Commissioner.

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Not Taken Lightly

Speaking about the SkyCity Adelaide issue, Dini Soulio, the South Australian Liquor and Gambling Commissioner said: “This is not a matter that I have taken lightly.” The Commissioner added that people in South Australia should be able to trust the operator of Adelaide Casino and that is why the anti-money laundering and counter-terrorism financing regulatory obligations are very important.

However, Dini Soulio mentioned that the independent expert “will not displace the role of the SkyCity Adelaide Board”, his role would be to monitor the company’s activities and ensure that the “objectives are met.”

That does not mean that the investigation to assess the suitability of SkyCity Adelaide to hold a casino license will stop, but the successful implementation of improved anti-money laundering and counter-terrorism financing programs will certainly help the company keep operating the casino.

David Christian, Chief Operating Officer at SkyCity Entertainment Group, said that the company is ready to cooperate with the Commission and also “work closely with the independent expert.”

“It is very important to us that our customers, community, and the regulators have confidence in our commitment to the highest standards of compliance,” David Christian concluded.

Source:

, asgam.com, May 29, 2023.

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