The temporary loss of its gaming license at Auckland, Hamilton and Queenstown could deliver a major earnings hit to the ASX-listed wagering group.
SkyCity Entertainment, the ASX-listed owner of the Adelaide casino, could temporarily lose its licence to operate in New Zealand after it allegedly broke gambling harm minimisation rules.into whether it is fit to hold a licence in Adelaide, but the business now faces the prospect of temporarily losing the licence that allows it to operate its casinos in Auckland, Hamilton and Queensland.
“SkyCity is committed to maintaining the highest standards of host responsibility best practice, with priority given to minimising the impacts associated with problem gambling as an area of primary focus.”The company said the potential suspension would not impact non-gaming operations such as hotels and restaurants. A decision could take months.
A licence suspension adds to existing headwinds facing SkyCity, which last month sets aside $45 million for a potential AUSTRAC penalty and is fighting investment giant in court over the value of a fire-damaged carpark at the New Zealand International Convention Centre. Its provision announcement coincided withwhich is facing its own regulatory action.
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