SkyCity's provisions should be closer to $150m – Forbar

There's a regulatory glare in Australia, and it will cost. (Image: NZME)

Thu, 17 Aug 2023

SkyCity Entertainment’s A$45 million (NZ$49m) provision for likely penalties levied by the Australian financial crimes unit Austrac on its Adelaide casino, is a ‘best case’ scenario, Forsyth Barr says.The investment house’s own forecasts suggest the total provision should be closer to $150m, including both Austrac and the looming prospect of penalties imposed by the South Australian government following its review into the Adelaide property’s suitability as a licence holder. On Monday, SkyCity announced it wo...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Technology Best of BD Reviews

Best of BusinessDesk: Top tech reviews from 2025

Two keyboards, a TV glow-up and some vacuums.

Jacques Steenkamp 5:00am

World

Greenland or NATO? Trump can’t have both

It isn’t for sale, and the consequences of a military takeover would be dire.

The Wall Street Journal 5:00am

Greenland or NATO? Trump can’t have both

Cars Opinion

Tesla’s greatest threat is being boring

The biggest threat may not be flaming out spectacularly.

Bloomberg 5:00am

Sponsored

Generative AI will disrupt 90% of jobs - what it means for the future of work

Here’s what that means for the future of work in New Zealand.

Cognizant

Sponsored

AI is only as good as its data foundation

NZ leaders explain why clean, connected data drives AI value.

Cognizant

More Markets

Markets Market Close

NZ sharemarket up 1.3% for the year

The S&P/NZX 50 Index closed at 13,718.1, up 58.31 points or 0.43%.

Graham Skellern 16 Jan 2026

Markets

Ryman Healthcare’s guidance is achievable – analysts

Dual-listed Ryman Healthcare delivered a solid third-quarter trading update, and its guidance is “achievable”, said Forsyth Barr analysts.Earlier this week, it reported 375 total sales in 3Q26, up +2% quarter-on-quarter and down 5% year-on-year.There were 101 new sales and 274 re...

Rebecca Howard 16 Jan 2026