{"id":777016238,"date":"2024-06-07T09:27:49","date_gmt":"2024-06-07T12:27:49","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777016238"},"modified":"2026-04-22T09:23:25","modified_gmt":"2026-04-22T12:23:25","slug":"australian-high-court-allows-skycity-to-appeal-casino-duty-ruling","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/australian-high-court-allows-skycity-to-appeal-casino-duty-ruling","title":{"rendered":"Australian High Court allows SkyCity to appeal casino duty ruling"},"content":{"rendered":"\n<p>The operator has been granted special leave to appeal the South Australian Supreme Court&#8217;s ruling.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- <strong>SkyCity Entertainment Group <\/strong>has announced in a company filing that the High Court of Australia has today (June 7) granted SkyCity Adelaide special leave to appeal the South Australian Court of Appeal&#8217;s judgment on the interpretation of <a href=\"https:\/\/focusgn.com\/asia-pacific\/skycity-ordered-to-pay-additional-casino-duty\" target=\"_blank\" rel=\"noreferrer noopener\">the Adelaide Casino Duty Agreement<\/a>.<\/p>\n\n\n\n<p>The dispute involves differing interpretations on the taxation of loyalty points accumulated at SkyCity\u2019s Adelaide casino. The High Court&#8217;s decision means that a full hearing of the appeal will take place later this year. The interest rate for outstanding duty, and whether the interest provision in the Casino Duty Agreement is enforceable, will be determined by a judge at a later date.<\/p>\n\n\n\n<p>If the decision is unfavourable to SkyCity, it may be obliged to pay penalty interest of up to AU$22.8m on the additional casino duty. A successful appeal could reduce this to approximately AU$2.4m.<\/p>\n\n\n\n<p>The company has <a href=\"https:\/\/focusgn.com\/asia-pacific\/skycity-revises-earnings-guidance-and-suspends-dividends\" target=\"_blank\" rel=\"noreferrer noopener\">updated its earnings guidance for the fiscal year 2024<\/a>. SkyCity now expects underlying group EBITDA of between NZ$280m (US$173.5m) and NZ$285m (US$176.6m) and net profit after tax (NPAT) between NZ$120m (US$74.3m) and NZ$125m (US$78.1m). It also announced the suspension of dividends for the second half.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The operator has been granted special leave to appeal the South Australian Supreme Court&#8217;s ruling.<\/p>\n","protected":false},"author":176,"featured_media":20776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SkyCity Adelaide has been granted special leave by the High Court of Australia to appeal a South Australian Supreme Court ruling concerning the taxation of loyalty points under the Adelaide Casino Duty Agreement. This dispute carries a potential financial impact of up to AU$22.8m in penalty interest. Consequently, SkyCity Entertainment Group has revised its FY24 earnings guidance and suspended dividends for the second half.","focusai_entities":"SkyCity Entertainment Group, SkyCity Adelaide, High Court of Australia, South Australian Supreme Court, South Australian Court of Appeal","focusai_location":"Australia, South Australia, Adelaide","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"SkyCity's Legal Arguments","query":"What are the specific legal arguments SkyCity will present to challenge the South Australian Court of Appeal's interpretation of the Adelaide Casino Duty Agreement regarding loyalty points?"},{"label":"Industry-wide Tax Implications","query":"How might the High Court's final ruling on loyalty point taxation impact other Australian casino operators' duty agreements and financial liabilities?"}],"footnotes":""},"categories":[16336,156],"tags":[1137],"class_list":["post-777016238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777016238"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016238\/revisions"}],"predecessor-version":[{"id":777016248,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016238\/revisions\/777016248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20776"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777016238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777016238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777016238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}