SkyCity to stop dealing with junket operators
SkyCity Entertainment Group Limited has announced it will “permanently cease dealing with all junket operators, effective immediately, and continue to operate its International Business division under a revised operating model.”
The decision was implemented after the board completed a strategic review into its International Business division. The plan to stop working with junket operators was first indicated in February 2021, as part of SkyCity’s interim results announcement for the six months ending in December 2020.
“Under the revised operating model, SkyCity will deal directly with International Business patrons after appropriate know your customer and customer due diligence requirements are satisfied,” a statement read.
SkyCity assured it will consult with gaming regulators in New Zealand and South Australia in relation to the revised operating model.
Junket operators organize tours to bring third parties to the casinos; they facilitate gambling for high-rollers and also collect commission from the casino based on the collective gambling of the players.
The company provided no reason why it ended the arrangement with junkets, but the decision was likely influenced by the ongoing inquiries into one of Australia’s more prominent casino operators, Crown Resorts, after the allegations of money laundering.
Crown was investigated for poor governance, with regulators suspending the operational license for Crown’s new Sydney casino, with its Perth venue still undergoing the investigation conducted by a Royal Commission.
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