Michael Ahearne, chief executive of SkyCity Entertainment, will depart the company in March as the Adelaide casino owner braces for a potential multimillion-dollar fine and the loss of its New Zealand licence.

Mr Ahearne, who was appointed chief executive in November 2020, told the board of the ASX-listed company he would step down and return to Europe with his family early next year. Julian Cook, chairman of SkyCity, said Mr Ahearne had led the business through a “complex and demanding period”.