SkyCity Adelaide agrees A$21m regulatory settlement
SkyCity Entertainment Group has entered into a non-binding heads of agreement with the Commissioner following the investigation led by retired Supreme Court judge Brian Martin KC.
Under the proposed settlement, SkyCity Adelaide will make three payments of A$7m over two years. The agreement must still be converted into final binding documentation.
The Martin review examined whether SkyCity Adelaide remained suitable to hold South Australia’s sole casino licence. It identified significant historical governance, compliance and risk-management failures, including a culture in which revenue had been prioritised over regulatory compliance.
The regulator nevertheless concluded that the operator remained suitable to retain its licence, citing SkyCity’s remediation programme and investment in strengthening its leadership, systems, financial-crime controls and responsible-gambling procedures.
SkyCity has acknowledged the failings and said its Adelaide business has undergone substantial cultural and operational reform. The settlement is intended to resolve the remaining matters arising from the review while regulatory oversight of the casino continues.
