The South Australian government is taking steps to introduce legislation that could result in significantly increased penalties for the operator of Adelaide Casino, SkyCity. The proposed penalties, ranging up to $75 million, are part of a move to address allegations of misconduct and non-compliance with anti-money laundering laws.
The planned legislation aims to target criminal offenses such as failure to maintain proper financial records, evasion of casino duties, and non-compliance with regulatory notices. This initiative follows a review prompted by allegations from the Australian Transaction Reports and Analysis Centre (AUSTRAC) regarding SkyCity’s systemic non-compliance with money laundering laws.
The government’s proposal seeks to ensure accountability and deter future violations by imposing retrospective fines on SkyCity for both past and future conduct. This shift reflects a broader effort to strengthen regulatory oversight in the gambling industry and align penalties with the severity of offenses committed.
The move has drawn both support and scrutiny, with calls for increased accountability and calls for a more robust regulatory framework in the industry. The outcome of these proposed changes will likely have significant implications for the operation and regulation of Adelaide Casino, emphasizing the government’s commitment to enforcing compliance and maintaining integrity within the gambling sector.