SkyCity Entertainment has announced that the Federal Court has approved its agreement with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
The agreement, reached by SkyCity Adelaide, the operator of the SkyCity Adelaide casino, resolves the civil penalty proceedings initiated by AUSTRAC in December 2022.
As part of the agreement, SkyCity Adelaide will pay a civil penalty of $67 million.
This penalty is in relation to admitted historical contraventions of the Australian Anti-Money Laundering and Counter-Terrorism Financing Act and Rules, which occurred between December 7 2016 and December 14 2022.
The statement of agreed facts and admissions can be found on AUSTRAC's website.
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