The Department of Internal Affairs (DIA) revealed its latest development is part of the government’s broader effort to create a safer, more controlled national online gambling industry.

The initial Online Gambling Bill disclosed earlier this year will include the issuing of up to 15 licenses to approved gambling operators through a competitive vetting system.

The planned framework would look to eradicate the unregulated wagering market. It would better protect New Zealanders who frequently turn to offshore iGaming platforms. The offshore markets offer minimal player protections.

Early Engagement to Facilitate New Zealand’s Regulatory Goals

Trina Lowry, New Zealand’s Director of the Gambling Implementation Programme, used the announcement to emphasize the importance of engaging with potential operators early in the process.

“For online casino operators interested in entering the New Zealand market, the most important thing you can do is register your interest at http://www.dia.govt.nz/OGI,” Lowry said as part of the announcement.

The purpose behind the advanced regulatory structure is to minimize the harm of problematic gambling, protect consumers, and establish effective controls through comprehensive regulation. Lowry believes that licensing operators will better serve New Zealand bettors than the existing practice of wagering on unregulated offshore alternatives.

Internal Affairs Minister Brooke van Velden also detailed the need for safer iGaming options, stating, “My goal is not to increase online gambling but to enable New Zealanders to play casino games more safely.”

While it is still legal for New Zealanders to gamble using offshore sites, the government’s primary concern is that they do not come with regulatory player safeguards that protect its citizens.

Given that the new legislation will prohibit unlicensed operators from offering gambling services or access to advertising in New Zealand, experts believe this will defend against fraud, as well as protect the gambling public.

Focus On Protecting Minors, Feedback Welcome From The Public

One of the focal points within the enhanced measures to increase consumer protections will be to prohibit any advertising aimed at minors.

This mirrors a global trend as highlighted by the recent investigation into Midnite by the UK’s Advertising Standard Agency for an alleged breach of the Code of Non-Broadcast Advertising and Direct & Promotional Marketing (CAP Code).

In addition to this, operators will also have to follow stringent age verification protocols, with failure to comply leading to fines of up to NZ$5 million (around US$3 million).

The two-part approach of its regulatory implementation will focus on legislative development in tandem with its practical rollout by the DIA’s Online Gambling Implementation team.

In doing so, the New Zealand government will ensure that the legal framework and the operational infrastructure directly align.

Industry stakeholders, as well as the public, have been invited to provide feedback throughout the Select Committee stage, which is anticipated to last through mid-2025. With this, the government wants to demonstrate complete transparency and ongoing engagement throughout the process.

While the window for applications for New Zealand gambling licenses has not yet opened, as of this week, the DIA has opened the door for operators to register interests.

Designed to support the invitation to gambling operators, the DIA has also released a short video that offers an insight into the process. In it, it explains the purpose of the new legislation, the goals of the Online Gambling Implementation Programme, as well as how it will be rolled out.

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The courses, which will be delivered via the SMP Compliance Academy platform, will include anti-money laundering (AML), responsible gambling (RG), gambling licensing, gambling advertising, compliance culture, and the regulatory framework and environment in Australia and New Zealand.

Julian Hoskins, principal at Senet, stated: “Regulation of the gambling sector in Australia and New Zealand is constantly changing and it is essential that clients and other participants keep up to date in order to encourage and maintain the highest compliance standards.

“By offering our expertise in an online course format, powered by SMP’s software, we will be able to help our clients embed a strong culture of compliance amongst all their staff, reducing organisational risk and improving outcomes.”

Senet, who is currently developing the content, is the region’s leading multidisciplinary law firm specialising in gambling law and regulations, related advisory services, and compliance training, and will now combine its specialist market knowledge with that of SMP eGaming.

Alexandra Hoskins, chief operating officer at Senet, added: “We are really excited to be developing sector-specific content for these key jurisdictions as there is currently very little out there in the way of detailed, bespoke content for Australian and New Zealand legislation.

“Compliance training forms a vital part of every gaming organisation and this partnership with SMP allows us to provide learning solutions that is in-depth yet scalable and that meet the region’s evolving regulatory requirements. 

“This is an exciting development for Australia and New Zealand, and we look forward to working closely with SMP to create a tailored learning environment for the gambling industry in this region”.

The courses are set to be made available later this year on a subscription pricing model. Moreover, in contrast to the traditional pay-as-you-go model used by other providers, the SMP Compliance Academy will grant permanent access to all the courses and provides regular content updates, as well as deep learning analytics and regulatory reporting per-user-per-year. 

As well as this, users will also be able to undertake refresher training online in place of one-off in-house annual training, which is set to enable greater compliance awareness and allow users to learn at their own pace.  

Jade Zorab, director at SMP eGaming, concluded: “We’re extremely pleased to partner with the immensely talented team at Senet to deliver these courses. 

“We’ve seen the positive impact that eLearning can have for operators and the players that put their trust in them and we are committed to expanding our already extensive suite of courses into new jurisdictions. 

“Australia and New Zealand will join the UK, Isle of Man, Malta, Gibraltar, and Sweden in the list of jurisdictions we have tailored content for, with more to come on the horizon.”

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Back in July, Internal Affairs Minister Brooke van Velden announced New Zealand’s plans to have a new online casino regulatory system “in place from early 2026”. At the time, the Government stated that the online casino regulation was “designed to minimise harm, support tax collection and provide consumer protections to New Zealanders”.

Online gambling will be prohibited for those aged 18 or over, with operators only able to offer online casino games, not sports betting or lottery. The Department of Internal Affairs will be the regulator.

In addition, licensed gambling operators will be allowed to advertise, but with strict limits in place. Previously, advertising by licensed gambling operators was prohibited. Sponsorship by online casinos will remain illegal.

Providing an update earlier this week, van Velden noted that further decisions have been taken by the New Zealand Government regarding online casino regulation, stating that a new Online Gambling Bill will be drafted.

In July, the Government said that only a limited number would be allocated via auction, each lasting three years and being conditional on meeting regulatory requirements. The total number of licences to be issued has now been revealed to be up to 15.

In addition, the regulatory system will prohibit advertising that appeals to minors, require operators to have age verification systems and the regulator will issue fines of up to NZ$5m (€2.8m) for operators who don’t comply with regulations.

Van Velden commented: “A new Online Gambling Bill will be drafted with the purpose to regulate online casino gambling to facilitate a safer and compliant regulated online gambling market. More importantly, it will prevent and minimise online gambling harm and limit opportunities for crime and dishonesty. 

“I am pleased that the system will deliver to these objectives by prohibiting advertising that appeals to children, requiring online gambling operators to have an acceptable age verification system, and introducing fines of up to $5m for operators that break the law.”

The Internal Affairs Minister reiterated one of the Government’s goals with the regulations; to protect players who wish to play online casino games, noting as well that additional regulations will be developed covering player protection and advertising.

“My goal is not to increase the amount of gambling that is happening online, but to enable New Zealanders who wish to play casino games online to do so more safely than they can today,” stated van Velden.

“Currently, New Zealanders can and do gamble on thousands of offshore gambling websites. By introducing a regulatory system my intention is to channel customers towards up to 15 licensed operators.

“Further regulations will be developed on the detailed rules around advertising, as well as harm minimisation and consumer protection requirements. This is the same approach used in the existing Gambling Act and will give us more flexibility to adjust the regulations where necessary.”

Van Velden once again stated that the online casino regulatory system would be in place from early 2026, but added that it will also be presented to Parliament next year.

“The new regulatory system will be in place by early 2026. I look forward to taking the Bill through Parliament next year and hearing feedback from the public during the Select Committee stage.”

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500,000

GAMSTOP announced that over 500,000 people have registered for its self-exclusion service since its inception in 2018.

According to GAMSTOP, over 440,000 people are currently excluded, with approximately one in two opting for the longest time frame possible. 

April 2024 had the highest volume of monthly registrations since the service’s launch with 8,686 new registered users.

The average age of those registering for self-exclusion is reportedly decreasing, with one in two who registered for the service being aged 16-35. 

There was also a 12% year-on-year increase in the number of registered 16-24-year-olds.

Fiona Palmer, CEO of GAMSTOP, commented: “We have come a very long way since our launch in April 2018 and GAMSTOP is now widely recognised as an important tool to help vulnerable consumers take a break from their gambling. 

“We are proud to have been able to help hundreds of thousands of people to take back control of their lives through self-exclusion and we hope to help many more in the years to come.”

8

Ohio state Senator Niraj Antani is hoping to cement the Buckeye State as the eighth US state to legalise online casino gaming. 

Issued on 4 September, Antani introduced a 146-page bill with the sole purpose of legalising igaming in the state. The bill would create a regulatory framework for online casinos to be maintained by the Ohio Casino Control Commission.

Under the terms of the bill, the 11 casinos and racinos currently active in Ohio would each gain permission to offer one online casino offering. 

The bill underlined the remit of the Commission with the OCCC to be made responsible for monitoring and overseeing the introduction of each online casino offering, while approving games set to be offered on every platform.  

6.8%

Veikkaus Oy reported a year-over-year dip in gross gaming revenue and operating profit during the first half of 2024, with Veikkaus Group’s actual sales revenue dropping by 6.8% YoY to €483.8m. 

Operating profit also dipped, falling by 20.4% to €246.9m while profit slid by 19.1% to €252.3m.

The profit decline occurred due to major investments in the group’s future and the increase in lottery tax on gross gaming revenue, which rose by seven percentage points to 12%, resulting in the company paying €57.6m in lottery tax to the state, €31.7m more than H1 2023.

Veikkaus Oy noted that GGR fell by 7% in H1 in comparison to the same period the previous year to €482.8m. 

However, the state-owned operator did note that the number of customers has increased by around 15,000 during H1 to 2.54 million registered customers, while the share of the digital channels out of the GGR rose by 6.6 percentage points to 60.5%.

28,000

The Australian Communications and Media Authority announced that more than 28,000 people have registered for its national online self-exclusion service BetStop since it launched in August 2023.

According to the authority, of that figure, almost half were aged 30 and under, while around 80% were aged 40 and under. 

In addition, approximately 40% have decided to self-exclude for life, less than 20% chose the minimum period of three months and over 14% have already extended or reactivated their self-exclusion period.

The ACMA stated that as of 21 August 2024, BetStop had around 23,000 current users.

“Online gambling can cause a great deal of harm to individuals, their families and friends, so it’s encouraging that so many people have decided to take the step and register to self-exclude,” commented ACMA Chair Nerida O’Loughlin.

3

New Zealand’s government has opened a consultation to ask for the country’s opinion on the next three-year strategy to prevent and minimise gambling harm.

Matt Doocey, the Minister for Mental Health, published the comments on gambling harm prevention and minimisation in a statement on the government’s website, encouraging the public to voice their views so that the right initiatives and interventions can be put in place.

“While many New Zealanders enjoy gambling as a pastime without issue, the statistics are clear that harm from gambling can have a significant impact, therefore it is important that we put in place initiatives and interventions that prevent and minimise harm from gambling,” stated Doocey.

“I would encourage you to have your say on this consultation document by 6 October 2024 to help inform its development. In talking to people about mental health and addiction, I’ve become firmly of the view that the ideas we need to solve the issues we face are already in the community, so please make your voice heard.”

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Matt Doocey, the Minister for Mental Health, published the comments on gambling harm prevention and minimisation in a statement on the government’s website, encouraging the public to voice their views so that the right initiatives and interventions can be put in place.

The government’s comments also come as Gambling Harm Awareness Week takes place in New Zealand this week. 

“While many New Zealanders enjoy gambling as a pastime without issue, the statistics are clear that harm from gambling can have a significant impact, therefore it is important that we put in place initiatives and interventions that prevent and minimise harm from gambling,” stated Doocey.

“I would encourage you to have your say on this consultation document by 6 October 2024 to help inform its development. In talking to people about mental health and addiction, I’ve become firmly of the view that the ideas we need to solve the issues we face are already in the community, so please make your voice heard.”

In particular, Doocey stated that the government is seeking the opinion of those who have lived experience of gambling harm to ensure they’re “actively involved” in prevention and minimisation steps.

He emphasised that their “perspectives will give a strong understanding of what works and what doesn’t at the community level”.

Doocey’s comments follow the July announcement by the New Zealand government’s Minister of Internal Affairs, Brooke van Velden, that the country has plans to regulate online casinos, with the new regulatory system “to be in place from early 2026”.

Van Velden said the government had introduced plans for online casinos to “ensure operators meet requirements for consumer protection and harm minimisation, as well as paying tax.”

Doocey continued: “The government’s mental health and addiction priorities are clearly reflected in the draft strategy to ensure a comprehensive gambling harm support system is in place.

“These priorities include, increase access to gambling harm support, grow the gambling harm workforce, strengthen the focus on the prevention of and early intervention in gambling harm and improve the effectiveness of gambling harm support.

“There is a wide programme of work underway across government departments and the broader gambling harm sector to prevent and minimise gambling harm. This includes the roll-out of services to support those at risk of gambling harm, research to understand the changing gambling landscape and work to regulate online casinos.”

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In a statement on the government’s website, Minister of Internal Affairs Brooke van Velden has said that a “high-level approach” to online casino regulation has been agreed to by the government, “designed to minimise harm, support tax collection and provide consumer protections to New Zealanders”.

Van Velden commented: “There will be a licensing system for online casinos, where operators will need to comply with a set of criteria before they will be able to offer services to New Zealanders. It will be illegal for unlicensed operators to offer services to New Zealanders.

“Licensing is how we regulate most forms of gambling domestically. This is not intended to increase the amount of gambling New Zealanders do but to ensure operators meet requirements for consumer protection and harm minimisation, as well as paying tax.”

Regarding licences, only a limited number will be allocated via auction, each lasting three years and being conditional on meeting regulatory requirements.

Online gambling will only be prohibited for those aged 18 or over, with operators only being able to offer online casino games, not sports betting or lottery.

In addition, licensed gambling operators will be allowed to advertise, but with strict limits in place. Previously, advertising by licensed gambling operators was prohibited. Sponsorship by online casinos will remain illegal.

Van Velden added: “I expect the new regulatory system to be in place from early 2026 and the public will have the opportunity to provide feedback during the Select Committee process. Once established, the Department of Internal Affairs will be the regulator.”

The New Zealand minister added that further details regarding the regulation of online casinos will be announced later this year.

SkyCity Entertainment Group has also provided a statement showing its support for online casino regulation.

“The SkyCity Entertainment Group remains supportive of the regulation of online casino gaming in New Zealand with an emphasis on strong host responsibility and delivering community benefits in New Zealand.”

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As a result, SkyCity Auckland’s gambling area will be closed for five consecutive days in 2024, with the agreement conditional “on the Gambling Commission consenting to the withdrawal of the application by the secretary”, which has been filed.

The operator has also forecasted an impact of approximately NZ$5m on its underlying group EBITDA in FY25 following the temporary closure.

The application to temporarily suspend SkyCity Auckland’s licence for a period in the range of 10 days was initially made by the secretary in September 2023. It followed a complaint to the Department of Internal Affairs in February 2022 by a former SkyCity Auckland casino customer who gambled between August 2017 and February 2021.

The secretary alleged that SCML failed to comply with SkyCity Auckland Host Responsibility Programme requirements about the detection of incidents of continuous play by the customer.

Through the agreement with the secretary, SCML has acknowledged that it didn’t meet SkyCity Auckland HRP requirements and the detection of some incidents of continuous play by the customer “due to a design error in a technology system” developed by the operator to monitor carded customers’ continuous play.

The operator noted that this has since been rectified.

“SkyCity places great importance on host responsibility and takes these failures very seriously. On behalf of the SkyCity board and management team, I accept and apologise for these failures.”

Callum Mallet, Chief Operating Officer New Zealand at SkyCity

In addition, SCML accepted that it “failed to exercise the level of vigilance required by the HRP to use staff observation and intervention independently” as well as technology to spot continuous play incidents by the customer and act appropriately – especially in cases where problematic behaviour is silent or hidden.

A formal apology has also been issued by SCML to the secretary for the failures and SkyCity Auckland’s gambling area will be closed for five consecutive days in 2024 on dates agreed to by both parties “to resolve the matter in an expedient manner and without undue delay”.

Callum Mallet, Chief Operating Officer New Zealand at SkyCity, commented: “SkyCity places great importance on host responsibility and takes these failures very seriously. On behalf of the SkyCity board and management team, I accept and apologise for these failures.”

SkyCity’s Chair, Julian Cook, noted: “Reaching this agreement to close the SkyCity Auckland gambling area for five days resolves this matter. However, there is still considerable work required and underway to improve our risk systems, including our approach to mitigating financial crime and problem gambling.

“It is clear that historically SkyCity’s focus, resources and investment have fallen short of what was required of the business. This is not acceptable and, as part of meeting our regulatory obligations and wider social licence, we are committed to fully addressing this.”

“There is still considerable work required and underway to improve our risk systems, including our approach to mitigating financial crime and problem gambling.”

Julian Cook, Chair at SkyCity

As part of a multi-year transformation programme established in 2021 to strengthen risk management across the SkyCity Group, the company has undertaken several actions.

Measures include refreshing its board with specialist risk expertise directors; a Board Risk and Compliance Committee to oversee AML/CFT, host responsibility, risk and other compliance obligations; a Board of Transformation Sub-Committee to take charge of the transformation programme; and adopting three lines of accountability control framework.

A Group Chief Risk Officer was also appointed; enhancement and investment in further AML/CFT resourcing and capability, processes and systems; higher standards of due diligence on customers, lowering cash thresholds for enhanced customer due diligence and ceasing junket operators deals; and increase financial crime, risk and compliance and host responsibility teams capacities.

SkyCity has also reduced risk and complexity with a lower risk tolerance to limit ways customers can transact; enhanced facial recognition technology in Auckland and Hamilton to monitor continuous play; increased ATM monitoring in Auckland and Hamilton for withdrawals and declined transactions; increased customer interactions to assess for problem gambling signs; and rolled out an Advanced Host Responsibility staff training programme for frontline staff.

“It is encouraging to see the work SkyCity has already done to lift its performance in this area and its public commitment to continue to improve.”

Department of Internal Affairs

Lastly, the operator has committed to mandatory carded play across New Zealand casinos by mid-2025, and at its Adelaide casino by the end of next year.

The Department of Internal Affairs added: “The Department acknowledges the swift action taken by SkyCity to improve their system for detecting indicators of potential problem gambling after being alerted to the issue relevant to this case, and appreciates their proactive and pragmatic approach to resolving the complaint. 

“It is encouraging to see the work SkyCity has already done to lift its performance in this area and its public commitment to continue to improve.”

Reflecting on the SkyCity Auckland five-day closure, the group noted that the impact on underlying group EBITDA in FY25 is expected to be around NZ$5m. As a result, underlying group EBITDA for FY25 is now expected to fall between $245m and $265m.

This figure was previously between $250m and $270m, which did not include any potential temporary licence suspension impact, but it did incorporate the temporary closure of the Auckland casino’s gambling area.

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Through the agreement, GiG Comply will assist SkyCity in monitoring affiliate marketing, making sure that it is abiding by brand guidelines and regulatory requirements, with an emphasis on responsible gambling and safeguarding the brand.

Mads Birch Jespersen, Director of Marketing & Media from SkyCity, stated: “In a rapidly evolving online casino landscape like New Zealand and given the comprehensive compliance standards that SkyCity is determined to uphold, GiG Comply offers an additional filter for us to meet these standards.

“The tool allows us to explore and expand our online presence while keeping everything in line within our regulatory strategy.”

Gentoo Media noted that the link-up demonstrates the two parties’ dedication to high compliance and brand protection standards, with SkyCity able to meet ever-changing igaming regulatory requirements.

“We are thrilled to add SkyCity to our growing list of partners for GiG Comply, and we look forward to assisting them with their compliance strategy, safeguarding their brand,” added Rasmus Bank Nielsen, Head of GiG Comply.

“We hope our new partnership with SkyCity is the start of a long-standing collaboration to strengthen their affiliate marketing compliance, ensuring that they will remain in control of all of their marketing, and are in line with responsible gaming.”

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After brokerage and legal costs, the casino operator’s shareholding of around 10 per cent in the online gaming provider and media services operator is expected to generate net proceeds of approximately NZ$55m (€31m).

SkyCity noted that it intends to use the sale’s proceeds to “pay down debt as part of its ongoing prudent approach to capital management”.

Acquiring the shareholding in April 2022 for €25m (approximately NZ$40m at the time), the casino operator explained that it has divested in GiG because the shareholding is “non-core to its ongoing operations and is now not considered strategically necessary”.

However, SkyCity added that it continues to have a “valuable relationship” with GiG through its involvement with SkyCity Online Casino.

SkyCity’s divestment comes as GiG officially launches the split of the company into two separate entities, GiG Media and Platform & Sportsbook, with the former being rebranded as Gentoo Media.

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In December last year, SkyCity stated that it expected underlying group EBITDA for FY24 to be between NZ$290m and $310m while underlying group net profit after tax for the same period was between $125m and $135m.

However, both of those guidance ranges have now changed, as the top of the underlying group EBITDA range has dropped by $25m, while the top of the underlying group net profit after tax range has fallen by $10m.

SkyCity now expects underlying group EBITDA of between $280m and $285m and underlying group net profit after tax of between $120m and $125m.

Reasons for FY24 guidance change

The operator listed three key drivers for the changes to the FY24 guidance – an ongoing challenging economic environment, delays to the opening of the Horizon Hotel and a potential increase in Adelaide casino duty expense.

Regarding the ongoing challenging economic environment affecting guidance, SkyCity stated that such conditions were “impacting customer spend” but visitation numbers across all sites “remain strong”.

As for the delays to the Horizon Hotel’s opening impacting guidance, the operator commented that it is expected to open in August 2024 “due to delayed completion of works by the contractor to the project, which impacts hotel, food and beverage and gaming contributions across the Auckland precinct”.

SkyCity added that a potential increase in Adelaide casino duty expense could affect guidance following the South Australian Court of Appeal’s “ruling on the interpretation of the relevant provisions in the Adelaide Casino Duty Agreement regarding the treatment of loyalty points”.

South Australian Casino Duty dispute

In a separate release, the operator provided an update to its South Australian Casino Duty dispute, reporting that the High Court of Australia granted SkyCity Adelaide “special leave to appeal the South Australian Court of Appeal’s earlier judgement on the interpretation of the relevant provisions in the Adelaide Casino Duty Agreement dated 27 October 1999 between SkyCity Adelaide and the Treasurer of South Australia”. 

This agreement would “determine the treatment of loyalty points converted to gaming machine play for the purpose of calculating casino duty at the SkyCity Adelaide casino”.

The matter is a longstanding contractual dispute regarding the agreement’s interpretation and given the complexity of the issues, both parties have agreed to seek declaratory relief on the agreement’s proper construction from the South Australian Supreme Court.

The High Court will now conduct a full hearing on the appeal from the decision of the Court of Appeal later this year.

SkyCity said in a statement: “The outcome of that decision could be that the High Court confirms the interpretation of the Agreement adopted by the Court of Appeal, or determines a different interpretation, such as that put by SkyCity Adelaide before the Court of Appeal.

“The question of the applicable interest rate for outstanding duty, and whether the contractual interest provision in the Casino Duty Agreement is enforceable, remains to be determined by a single Judge of the Supreme Court at a later date.”

If the decision by the Supreme Court on the applicable interest rate is unfavourable to SkyCity Adelaide and the casino is unsuccessful in its appeal to the High Court, SkyCity Adelaide “may be obliged to pay penalty interest on the additional casino duty”, which could be up to around A$22.8m (calculated as of May 31, 2024).

If SkyCity Adelaide is “successful in its appeal of the substantive issue to the High Court (but unsuccessful in its application to the Supreme Court regarding penalty interest) then penalty interest may still be applicable but would be reduced” to up to around A$2.4m (calculated as of May 31, 2024). 

FY25 outlook

The operator also provided an early outlook for the fiscal year 2025, where it expects the challenging economic environment conditions, particularly in Auckland, to continue.

Several one-off items are also expected to impact figures, including the aforementioned Horizon Hotel delays, New Zealand International Convention Centre pre-opening operational costs, New Zealand’s online gaming regulation, as well as SkyCity Adelaide’s ongoing risk and compliance uplift activities.

As a result, the operator currently expects FY25 underlying group EBITDA to be between $250m and $270m, which includes approximately $20m to $30m in one-off costs from the reasons listed above.

However, the guidance does not include the potential impact of a temporary suspension of SkyCity Casino Management’s casino operator’s licence in New Zealand, as a private hearing for this matter was pushed back from April 15, 2024, to August 2024 due to scheduling constraints.

Dividend update

SkyCity also provided a dividend update, noting that it will be suspending dividends for H2 24 and FY25 to “maintain a robust level of headroom,” with respect to its net debt/EBITDA covenant of 3.75 times within its financing agreements.

The operator noted that it expects to pay the Australian Transaction Reports and Analysis Centre civil penalty of A$67m in July 2024 for its violation of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

In addition, SkyCity is also committed to approximately $76m capex to complete the New Zealand International Convention Centre.

SkyCity added that it “continues to hold prudent levels of committed liquidity headroom” and that it expects to resume paying dividends in FY26, subject to satisfactory trading performance and market conditions.

The operator will release its FY24 full year results on August 22.

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