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...

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