SkyCity Adelaide agrees to phase out the use of cash for transactions over A$4,999
Operator to resolve all outstanding regulatory matters arising from the Independent Review and the findings of the Brian Martin Report
As part of SkyCity Adelaide’s agreement to pay a AU$21m fine, it will also phase out the use of cash for transactions over A$4,999 and continue with its prohibition on junkets at the Adelaide Casino, an activity SkyCity ceased in April 2021.
It has signed an agreement with the Commissioner for Liquor and Gambling in South Australia to fully and finally resolve all outstanding regulatory matters arising from the Independent Review and the findings of the Brian Martin Report.
The heads of agreement provides for a total fine of A$21m payable in three equal instalments as detailed below , together with enhanced governance, compliance and operational commitments for the Adelaide Casino .
SkyCity CEO Jason Walbridge said: “Reaching this in-principle agreement is an important step for SkyCity and reflects the significant work our team has done over the past four years to transform our compliance culture, strengthen our governance, and earn back the trust of our regulators. We accept the findings that led to this outcome and take seriously the obligations we have committed to. The structural changes for the Adelaide Casino, including an independent Adelaide board and locally accountable leadership, reflect a genuine commitment to operating as a responsible casino operator. We are grateful for the constructive engagement of the Commissioner’s office throughout this process.”
