SkyCity books AUSTRAC provision, Adelaide impairment

SkyCity Entertainment Group Limited has booked a NZ$49 million provision for potential civil penalty proceedings from the Australian Transaction Reports and Analysis Centre (AUSTRAC).

A$45.6 million (NZ$49.7 million) has also been impaired from the value of the SkyCity Adelaide casino licence.

These non-cash items do not impact the Group's FY23 normalised earnings, which remain in line with the guidance range provided on 24 May 2023 of NZ$300 - $310 million normalised EBITDA.

The provision and impairment are subject to external audit and final review by the SkyCity Board.