The company has agreed to pay AU$38.1m (US$23.6m) to resolve the dispute with the Treasurer of South Australia.<\/p>\n\n\n\n\n\n\n\n
Australia.- SkyCity Entertainment Group <\/strong>has announced that it has accepted an offer from the Treasurer of South Australia to resolve the contractual dispute on\u00a0the taxation of loyalty points<\/a>\u00a0accumulated at SkyCity\u2019s 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. <\/p>\n\n\n\n The agreement covers casino duty return periods from January 2014 to January 2024. Last October, the South Australian High Court\u00a0had rejected an appeal from the casino operator. It favoured the interpretation of the Treasurer of South Australia<\/a>, ruling that credits on gaming machines resulting from the conversion of loyalty points should be considered in gaming revenue calculations for casino duty.<\/p>\n\n\n\n Jason Walbridge<\/a>, SkyCity\u2019s 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.”<\/p>\n\n\n\n In January, the company reported that Brian Martin AO KC\u2019s independent review<\/a> 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\u2019s completion was originally slated for December 31, 2024.<\/p>\n\n\n\n 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\u2019s status as a close associate. However, the review was put on hold<\/a> 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<\/a> settlement agreement<\/a> between SkyCity Adelaide and AUSTRAC.<\/p>\n","protected":false},"excerpt":{"rendered":" The company has agreed to pay AU$38.1m (US$23.6m) to resolve the dispute with the Treasurer of South Australia.<\/p>\n","protected":false},"author":176,"featured_media":30284,"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 Entertainment Group has resolved a contractual dispute with the Treasurer of South Australia, agreeing to pay AU$38.1m for additional casino duty, interest, and legal costs related to the taxation of loyalty points. Concurrently, an independent review into SkyCity Adelaide's casino licence suitability, previously paused due to AUSTRAC civil penalty proceedings, is now expected to conclude by May, following the AU$67m settlement with AUSTRAC.","focusai_entities":"SkyCity Entertainment Group, Treasurer of South Australia, South Australian High Court, RevenueSA, Jason Walbridge, Brian Martin AO KC, Acting South Australian Liquor and Gambling Commissioner, AUSTRAC, Federal Court of Australia","focusai_location":"Australia, South Australia, Adelaide","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.97), operator_casino (0.9), payments_fraud_aml (0.75), investor_analyst (0.96), journalist_researcher (0.92)","focusai_suggestions":[{"label":"Tax Precedent Impact","query":"What are the broader implications of the South Australian High Court's ruling on loyalty points for gaming revenue calculations across other Australian jurisdictions?"},{"label":"Licence Review Outcomes","query":"What specific governance and operational changes has SkyCity implemented to address the findings that led to the AUSTRAC settlement and to ensure a positive outcome from the independent suitability review?"}],"footnotes":""},"categories":[16336,439],"tags":[23911,24411],"class_list":["post-777022537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-legal-news","tag-gambling-regulation","tag-skycity-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022537","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=777022537"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022537\/revisions"}],"predecessor-version":[{"id":777022546,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022537\/revisions\/777022546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/30284"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}SkyCity Adelaide independent review to close in May<\/h2>\n\n\n\n