SkyCity Adelaide to pay AU$38.1m to Treasury over tax for converting loyalty points to gaming machine play
New Zealand-based SkyCity Entertainment Group has agreed to pay the South Australian government a total of AU$38.1m to ‘finally resolve the long-running contractual dispute between the Treasury and SkyCity Adelaide concerning the treatment of loyalty points converted to gaming machine play for the purpose of calculating casino duty at the SkyCity Adelaide casino.’
The total includes the payment of AU$13.1m in additional casino duty and AU$24.8m in interest, encompassing casino duty return periods from January 2014 to January 2024.
“This has been a long running matter involving highly technical tax issues regarding the calculation of casino duty and the interpretation of the Agreement,” said SkyCity CEO Jason Walbridge. “SkyCity is pleased the matter has been resolved and will continue to work with RevenueSA to ensure a cooperative and constructive relationship.”
The two parties expect to finalise a settlement agreement reflecting the offer accepted by SkyCity Adelaide shortly.
