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

SkyCity's provisions should be closer to $150m – Forbar
There's a regulatory glare in Australia, and it will cost. (Image: NZME)
Brent Melville
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...

More Markets

Infratil's CDC investment cracks $5 billion mark
Markets

Infratil's CDC investment cracks $5 billion mark

Surging datacentre demand and expanded development plans benefit Infratil.

Aussie shares rise for first time in new financial year
Markets

Aussie shares rise for first time in new financial year

The ASX200 finished up 0.3% after better-than-expected domestic retail sales data.

AAP 7:45am
Soft tissue repair company Aroa could unlock $1.6b market
Markets

Soft tissue repair company Aroa could unlock $1.6b market

A transformational year is predicted for Aroa with potential for maiden profit.

Pūkaki mega-lake never seriously considered
Markets

Pūkaki mega-lake never seriously considered

Officials' idea for a giant lake would have cost billions and had serious impacts.