SkyCity Entertainment agrees to $21M regulatory fine
- SkyCity entered a non-binding heads of agreement to resolve all outstanding regulatory matters from the Brian Martin Report.
- The casino operator agreed to pay a total regulatory fine of $21 million in three equal instalments.
- The agreement requires structural governance changes at the Adelaide Casino, including a majority independent board by 2028.
SkyCity Entertainment Group (ASX:SKC) executed a non-binding agreement to resolve outstanding regulatory matters through a $21 million fine.
The settlement addresses outstanding regulatory matters from the Brian Martin Report.
“We are grateful for the constructive engagement of the Commissioner’s office throughout this process,” said SkyCity CEO Jason Walbridge.
The financial penalty involves three instalments of $7 million paid over two years following a formal tripartite deed.
Following the announcement, the SkyCity share price was down at $0.41.
The gaming firm operates five properties across New Zealand and Australia alongside a digital online casino platform.
The business previously updated its market guidance while advancing a broader long-term asset monetisation strategy.
