The company has agreed to pay AU$38.1m (US$23.6m) to resolve the dispute with the Treasurer of South Australia.
Australia.- SkyCity Entertainment Group has announced that it has accepted an offer from the Treasurer of South Australia to resolve the contractual dispute on the taxation of loyalty points accumulated at SkyCity’s Adelaide casino. It will pay AU$13.1m (US$8.1m) of additional casino duty, AU$24.8m (US$15.4m) in interest AU$200,000 (US$124,000) to cover legal costs.
The agreement covers casino duty return periods from January 2014 to January 2024. Last October, the South Australian High Court had rejected an appeal from the casino operator. It favoured the interpretation of the Treasurer of South Australia, ruling that credits on gaming machines resulting from the conversion of loyalty points should be considered in gaming revenue calculations for casino duty.
Jason Walbridge, SkyCity’s chief executive officer, said: “This has been a long-running matter involving highly technical tax issues regarding the calculation of casino duty and the interpretation of the Agreement. SkyCity is pleased the matter has been resolved and will continue to work with RevenueSA to ensure a cooperative and constructive relationship.”
SkyCity Adelaide independent review to close in May
In January, the company reported that Brian Martin AO KC’s independent review into the suitability of SkyCity Adelaide is expected to be completed by the end of May. An extension was approved by the Acting South Australian Liquor and Gambling Commissioner, in agreement with Martin. The review’s completion was originally slated for December 31, 2024.
The review was initially commissioned in July 2022 by the former commissioner to assess the suitability of SkyCity Adelaide to hold its casino licence and to evaluate SkyCity’s status as a close associate. However, the review was put on hold in February 2023 due to civil penalty proceedings initiated by AUSTRAC against SkyCity Adelaide. However, on June 7, 2024, the Federal Court of Australia approved a AU$67m settlement agreement between SkyCity Adelaide and AUSTRAC.
The company has agreed to pay AU$38.1m (US$23.6m) to resolve the dispute with the Treasurer of South Australia. Australia.- SkyCity Entertainment Group has announced that it has accepted an offer…
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