Why it matters: AUSTRAC is suing SkyCity for alleged breaches of anti-money laundering laws.
SkyCity, which owns the Adelaide casino, has provisioned $45 million for a fine.
SkyCity has also written down the Adelaide casino by $45.6 million.
SkyCity Entertainment set aside $45 million for a penalty if it is convicted of breaches of anti-money laundering and counterterrorism laws.
The financial crimes watchdog, AUSTRAC, lodged proceedings against SkyCity in December over alleged serious and systemic non-compliance with the laws at its Adelaide casino.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
