SkyCity cleared to retain Adelaide casino licence following lengthy investigation

Summary

SkyCity Entertainment Group has been allowed to keep its land-based casino licence in Adelaide after an independent review by retired Supreme Court Justice Brian Martin found the operator has made sufficient improvements to its anti-money laundering (AML) and counter-terrorism financing (CTF) systems to be considered suitable today.

The case stems from industry-wide compliance checks beginning in 2019; AUSTRAC raised concerns about systemic AML and CTF failings and launched federal court proceedings in late 2022. SkyCity settled with AUSTRAC in May 2024, agreeing to a AU$67m penalty. Martin’s 541-page report acknowledges past failures, notes meaningful changes since new leadership arrived in 2024, but warns remediation through to June 2027 will be challenging and that further improvements remain necessary.

Source

Source: https://igamingbusiness.com/legal-compliance/skycity-retain-adelaide-casino-licence/

Key Points

• An independent review led by ex-Supreme Court Justice Brian Martin found SkyCity is currently suitable to hold the Adelaide licence.
• AUSTRAC identified “serious and systemic non-compliance” with AML and CTF laws, including weak risk-based systems, poor senior oversight and inadequate transaction monitoring.
• SkyCity settled AUSTRAC’s case in May 2024, paying a AU$67m penalty.
• Significant leadership and governance changes occurred in 2024, notably Jason Walbridge becoming CEO; Martin says these shifts materially improved the operator’s culture and controls.
• SkyCity has committed to invest AU$60m over three years to strengthen culture, financial crime controls and host-responsibility practices.
• Martin warned full remediation by June 2027 is unlikely given the scale and complexity of required work, though progress is underway under an independent monitor.
• South Australia’s regulator said this is not a “clean bill of health” and may still consider enforcement measures or further conditions on the licence.

Why should I read this?

Short version: big regulatory moment for Australia’s land-based casino sector. If you follow compliance, licensing or the gambling market, this story shows a major operator avoided losing its licence but still faces a hefty cleanup job — and the regulator hasn’t closed the file. It’s a quick read that saves you having to wade through the full 541‑page report.

Author style

Punchy — this is an important industry outcome. The finding matters for operators, regulators and investors: SkyCity stays open, but the caveats and ongoing remediation mean risks and costs remain. Read the detail if you need to assess regulatory trends or operator resilience.