The High Court in New Zealand has imposed a penalty of NZ$4.16m against SkyCity Casino Management, the operator of SkyCity's New Zealand casinos, for historic breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

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Under the terms of the settlement agreement with the Department of Internal Affairs, SCML is required to pay the civil penalty within 15 days. This brings the department's civil proceedings to an end.

Earlier this year, SkyCity accepted responsibility and issued an apology for its failings in this matter. CEO Jason Walbridge said: "SkyCity is aware that, as a casino operator, we have a responsibility to combat money laundering and terrorism financing.

"This is a responsibility we take very seriously. We will continue to upgrade our anti-money laundering and counter-terrorism financing systems to ensure we meet both our regulatory obligations and the expectations of the communities in which we operate."