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Casino company SkyCity Entertainment Group said on Friday it was expecting a jump of up to 33% in its fiscal 2021 adjusted profit, riding on strong trading at its electronic gaming businesses in New Zealand.
The Pacific island nation has been largely successful in containing the spread of COVID-19 and has rolled out a speedy vaccination drive, allowing businesses to restart operations at a faster pace.
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SkyCity is forecasting a normalized net profit after tax between NZ$84 million ($60.43 million) and NZ$88 million for 2021, compared with NZ$66.3 million a year earlier, the company said in a statement.
Australia's financial crime fighting agency widened a probe into suspected compliance breaches by casino operator Crown Resorts (CWN.AX) to include its Perth property, while rival SkyCity Entertainment Group became subject of a separate probe, the companies said.
New Zealand s SkyCity under investigation for money laundering at Adelaide casino Toggle share menu
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SkyCity gaming group runs the flagship SkyCity casino in Auckland. (File photo: AFP/Paul Ellis)
07 Jun 2021 08:39AM (Updated:
07 Jun 2021 08:40AM) Share this content
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SkyCity Entertainment Group on Monday (Jun 7) said Australia s financial crime regulator had launched an investigation into possible breaches of anti-money laundering and counter-terrorism laws at the firm s operation in Adelaide.
SkyCity Adelaide, the Auckland-based company s only property outside New Zealand, generates about a sixth of its pre-tax profit.
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The casino operator said the potential breaches found by the regulator, AUSTRAC, included concerns relating to ongoing customer due diligence and its maintenance of its compliance programme.
Australia’s financial crimes agency investigates SkyCity over “potential serious non-compliance" with anti-money laundering rules at its Adelaide casino.