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SkyCity state-based AML probe on ice, pending resolution of Australian federal penalty hearings

( May 29, 2023, 02:34 GMT | Official Statement) -- MLex Summary: An industry review targeting New Zealand-based SkyCity Entertainment operations in the state of South Australia has been put on hold until a federal money-laundering lawsuit has wrapped up, the company has said. In a communication to the Australian Securities Exchange, SkyCity said it had been informed by the South Australian gambling regulator, Consumer and Business Services, that a review into SkyCity Adelaide's suitability to hold a license had been frozen, pending the resolution of the penalty proceedings filed by the Australian Transaction Reports and Analysis Centre. The company also said that the South Australian Liquor and Gambling Commissioner was considering his options about future action. The gambling company is being probed over failures to comply with Australia’s anti-money laundering legislation. The full statement to the ASX is attached. ...

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