April 13, 2021
In New Zealand and casino operator SkyCity Entertainment Group Limited has reportedly announced that it is to permanently cease using junket firms to attract high-value foreign gamblers to its four properties.
According to a report from Inside Asian Gaming, the Wellington and Sydney-listed company is responsible for New Zealand’s SkyCity Auckland, SkyCity Hamilton and SkyCity Queenstown properties and recently spent in the region of $243 million so as to renovate its SkyCity Adelaide venue in Australia. The source detailed that the shake-up comes after the casino operator completed an eight-week strategic review into its international business that found potential due ‘diligence’ and ‘know your customer’ shortfalls connected to the use of junket firms.
Continuous Disclosure: Transtasman bubble won t be enough to pull Air New Zealand out of the red
8 Apr, 2021 05:00 PM
8 minutes to read
Air New Zealand won t be profitable again until long-haul travellers can return, analysts predict. Photo / File
Air New Zealand won t be profitable again until long-haul travellers can return, analysts predict. Photo / File
The announcement of the opening of the transtasman bubble on April 19 has been followed by positive stories of Kiwis rushing to book flights with Air New Zealand. But one investment firm remains convinced that it will take the return of long-haul travellers to bring the national carrier back to profitability again.
Boards need to view their businesses through a wider lens, says professional director Rob Campbell.
Covid-19 is just one example of how humanity and the rest of nature are colliding and the effects are reverberating through companies and into boardrooms, sparking a need for change, says professional director Rob Campbell. “The way I perceive the world at the moment is that there is a real clash or collision going on between the way human beings have conducted ourselves and nature,” says Campbell. He sees that reflected through a variety of crises spanning Covid-19, the climate, rapidly decreasing biodiversity and growing inequality of wealth and information.
Government Regulation And The Stock Market
The companies that live or die with the stroke of a regulatory pen
By Tim Boreham, Editor, The New Criterion
Deep in any corporate vault lies a piece of paper or two that affirms the right of an enterprise to operate, such as articles of incorporation, a banking or broadcasting licence or a mining permit.
Apart from diligent company secretaries, no one else will give the paperwork a second thought. But when this right to operate is threatened, the anxiety level quickly rises.
Nothing exemplifies the dangers more than the stricken
Crown Resorts ((CWN)), which faces a crucial NSW decision on whether it should hold the right to operate Sydney’s second casino. The Independent Liquor and Gaming Authority has deemed the Packer-linked entity to be not suitable, but it’s up to Macquarie Street to decide.