{"id":1927,"date":"2021-04-16T08:05:50","date_gmt":"2021-04-16T12:05:50","guid":{"rendered":"https:\/\/bestcasinos.co.nz\/?p=1927"},"modified":"2021-04-19T05:13:01","modified_gmt":"2021-04-19T09:13:01","slug":"skycity-kicks-its-junket-habit-forever","status":"publish","type":"post","link":"https:\/\/bestcasinos.co.nz\/skycity-kicks-its-junket-habit-forever\/","title":{"rendered":"SkyCity kicks its junket habit forever"},"content":{"rendered":"<p>Casino operator SkyCity Entertainment Group Limited reportedly made the recent announcement that it will permanently halt its practice of using junket firms to draw in high-rolling foreign gamblers to its four properties.<\/p>\n<p>In a report by Inside Asian Gaming, the firm which is listed in Wellington and Sydney and operates the New Zealand\u2019s SkyCity Auckland, SkyCity Hamilton and SkyCity Queenstown properties, recently splashed out around $243 million for the renovation of its SkyCity Adelaide venue in Australia. The report detailed the upheaval in the operators interior processes, that came after an eight-week strategic review into its international business that identified possible \u2018due diligence\u2019 and \u2018know your customer\u2019 gaps associated with the use of junket firms.<\/p>\n<p><strong>Cautionary tale<\/strong><\/p>\n<p>This latest development at SkyCity was largely attributed to a ruling in early February by regulators in New South Wales against fellow operator Crown Resorts Limited that found it was <a
href=\"https:\/\/bestcasinos.co.nz\/gloves-off-as-crown-resorts-fights-to-retain-nsw-casino-licence\/\">unsuitable to hold a casino license<\/a> for its new Crown Sydney property. This judgement by the New South Wales Independent Liquor and Gaming Authority came about as a result of allegations that the operator may have enabled a rash of money laundering offences directly related to its dependence on foreign junket enterprises.<\/p>\n<p><strong>Switching course<\/strong><\/p>\n<p>In a recent official filing, SkyCity Entertainment Group Limited stated it intends to adopt an adapted model for its international business that will prioritise direct interaction with foreign players after its completion of <em>\u2018appropriate know your customer and customer due diligence\u2019<\/em> checks. The operator reportedly relayed that it would <em>also \u2018consult with its gaming regulators in New Zealand and South Australia\u2019 <\/em>regarding the finer details of <em>\u2018its revised operating model\u2019 <\/em>going forward.<\/p>\n<p><strong>A new start<\/strong><\/p>\n<p>In a related story, also from Inside Asian Gaming, the former Deputy Chairman for SkyCity Entertainment Limited, Bruce Carter, accepted the new role of a non-executive director at Crown Resorts Limited. Carter vacated his previous post after managing the expansion of the SkyCity Adelaide venue and will now dedicate his energy and skills in assisting his new employer to obtain a casino license for its $1.5 billion Crown Sydney development.<\/p>\n<p>Carter\u2019s move echoes that of <a
href=\"https:\/\/au.linkedin.com\/in\/nigel-morrison-63879299\" target=\"_blank\" rel=\"noopener\">Nigel Morrison<\/a>, the previous Chief Executive Officer for SkyCity Entertainment Group Limited. The new hires come as Crown scrambles to cleanse itself of all allegations of impropriety in the hope that it can revive its dreams of bringing casino gambling to its Crown Sydney development.<\/p>\n<p>A Crown Resorts Limited representative commented in an official statement, saying,<\/p>\n<p><em>\u201cAttracting someone of Bruce\u2019s calibre to the board is an endorsement of our strategy, ambition and commitment to reform. Bruce\u2019s appointment will enhance our governance as we continue to implement our ambitious reform program.\u201d<\/em><\/p>\n<p><img
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