AUSTRAC CIVIL PENALTY PROCEEDINGS AGAINST SKYCITY ADELAIDE

SkyCity Entertainment Group Limited
(SKC.NZX/SKC.AX)

6 December 2022

AUSTRAC COMMENCES CIVIL PENALTY PROCEEDINGS AGAINST SKYCITY ADELAIDE

SkyCity Entertainment Group Limited (SkyCity) has been informed by the Australian Transaction Reports and Analysis Centre (AUSTRAC) that it intends to file civil penalty proceedings in the Federal Court of Australia on Wednesday 7 December 2022 against SkyCity Adelaide Pty Limited (SkyCity Adelaide), the operator of the SkyCity Adelaide casino in South Australia, alleging contraventions of SkyCity Adelaide’s obligations under the Australian Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and Rules (Act).

The commencement of proceedings by AUSTRAC follows an enforcement investigation commenced in June 2021 into SkyCity Adelaide’s compliance with the Act. SkyCity Adelaide places the utmost importance on compliance with its regulatory obligations including its anti-money laundering compliance and will give the allegations in the AUSTRAC claim, once received, careful consideration before responding.

In the event AUSTRAC’s claim was to be accepted in whole or in part by the Federal Court of Australia, SkyCity Adelaide may be subject to a civil penalty to be imposed by the Court which may be material. SkyCity understands that AUSTRAC has not yet identified the level of penalty it intends to seek.

Given that the matter will be before the Court it would be inappropriate for the company to comment further on the allegations at this stage.

SkyCity understands that Court documents related to the civil penalty proceedings will be available on AUSTRAC’s webpage at https://www.austrac.gov.au/lists-enforcement-actions-taken, once they have been lodged with the Court by AUSTRAC.

SkyCity Adelaide will continue to cooperate with AUSTRAC more generally, particularly in the ongoing implementation of enhancements to its Adelaide AML/CTF control frameworks as outlined in SkyCity’s FY22 Annual Report.

For more information, please contact:

Investors and Analysts - Paddy Walker
Group Manager Capital Markets
DDI: +64 997 15410
E-mail: [email protected]

Media - Graeme Muir
Communications Manager
Mobile +64 216 70 442
E-mail: [email protected]

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