After a long-standing dispute, SkyCity has been ordered to pay AUD$13m ($8.55m) in unpaid casino duty.
Ruling in favor of the treasurer, the South Australian Court of Appeal found that credits on gaming machines resulting from loyalty points need to be included in gaming revenue when determining casino duty.
covering a period between January 2014 and January 2024
As a result, the gambling and entertainment company is required to pay AUD$13m covering a period between January 2014 and January 2024.
It didn’t all go the treasurer’s way, though. The court ruled in favor of SkyCity that an interest penalty shouldn’t be enforced. A Supreme Court judge will decide on the matter at a later date. If the Supreme Court rules in favor of the treasurer, SkyCity will need to pay an additional AUD$20m ($13.16m) in interest.
This is just the latest hurdle for the gambling company. SkyCity needs to pay AUD$79m ($52m) for money laundering breaches in Australia. For similar violations, SkyCity must also pay AUD$8m ($5.26m) to New Zealand authorities.
The company’s exiting CEO Michael Ahearne said: “We’ve made provisions for any such penalties which are an estimation of any potential penalties that we may have.”