High Court finalises NZ AML/CFT penalty amount

MARKET RELEASE
SkyCity Entertainment Group Limited (SKC.NZX/SKC.ASX)
26 September 2024

High Court finalises NZ AML/CFT penalty amount

SkyCity Entertainment Group Limited (SkyCity) advises that the High Court has today imposed a civil penalty of NZ$4.16 million against SkyCity Casino Management Limited (SCML), the operator of SkyCity’s New Zealand casinos, for historic breaches of the New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

Under the terms of the settlement agreement with the Department of Internal Affairs, SCML is required to pay the civil penalty within 15 working days. This brings the Department’s civil proceedings to an end.

Earlier this year, SkyCity accepted responsibility and issued an apology for its failings in this matter. Chief Executive Officer Jason Walbridge said, “SkyCity is aware that, as a casino operator, we have a responsibility to combat money laundering and terrorism financing. This is a responsibility we take very seriously. We will continue to upgrade our anti-money laundering and counter-terrorism financing systems to ensure we meet both our regulatory obligations and the expectations of the communities in which we operate.”

Further background detail regarding this matter is included in SkyCity’s market release of 21 May 2024.


Ends

For more information, please contact:

Investors and Analysts - Craig Brown
Head of Investor Relations & Corporate Development
Mobile: +64 27 470 6802
E-mail: [email protected]

Media - Graeme Muir
GM Communications
Phone: +64 214 26 844
Email: [email protected]


This announcement has been authorised for release by:
Jo Wong, General Counsel & Company Secretary

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