SkyCity ups provision to $79m in Austrac proceedings – shares rise

SkyCity ups provision to $79m in Austrac proceedings – shares rise
Penalty agreement negotiated. (Image: Getty)
Staff reporters
Casino operator SkyCity has reached an agreement with the Australian financial crimes watchdog over apparent breaches at its Adelaide casino, upping its provision for the penalty it expects to pay.In December 2022, the Australian Transaction Reports and Analysis Centre (Austrac) filed civil proceedings against SkyCity over alleged serious and systemic non-compliance at its South Australian casino.Austrac had alleged noncompliance with anti-money laundering law, claiming it allowed 59 patrons to churn more than $4 billion in cash through the cas...

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