House always wins? Adelaide casino operator dealt profit dive - News | InDaily, Inside South Australia
SkyCity profits plunge 37.6% to $15.1M after $21M regulatory fine for anti-money laundering failures at Adelaide casino.Summary
SkyCity Entertainment Group reported a 37.6% drop in full-year profit to $15.1 million for 2026, despite a 6.5% revenue increase to $732.7 million. The profit decline was driven by a $21 million fine imposed by the South Australian Liquor and Gambling Commissioner following a review by retired Supreme Court Judge Brian Martin, which found multiple failures in anti-money laundering and counter-terrorism financing obligations under previous management. The fine will be paid in three equal instalments over two years. CEO Jason Walbridge noted progress in strengthening operations amid a difficult operating environment and weaker consumer discretionary spending in the final quarter. Group debt stands at $492.7 million, slightly above expectations. The company will undertake a strategic review of its Adelaide business and declined to provide guidance for FY2027 due to macroeconomic uncertainty. Shares rose 1.02% in early trading.
(Source：Indaily)