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Company Directory - SkyCity Entertainment Group

Company Details - SkyCity Entertainment Group

SkyCity Entertainment Group Logo

SkyCity Entertainment Group

Website

Auckland, New Zealand

ASX: SKC 

SkyCity Entertainment Group is a major entertainment and gaming company in New Zealand. The company operates a chain of casinos, hotels, and restaurants, and is known for providing high-quality hospitality services. With luxurious accommodations and a vibrant gaming environment, SkyCity aims to create exceptional experiences for its guests.

CCI Score

CCI Score: SkyCity Entertainment Group

-21.49

0.08%

Latest Event

SkyCity Settles AML Violations in New Zealand

SkyCity Entertainment Group reached a settlement over historic breaches of New Zealand's anti-money laundering and counter-terrorist financing regulations at its Auckland, Queenstown, and Hamilton casino facilities.

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ACCOMPLICE

SkyCity Entertainment Group is currently rated as an Accomplice.

-20 to -29 CCI Score
These companies profit from authoritarian practices through their business dealings. Although they may not be directly enforcing oppressive policies, their actions contribute to the economic and operational sustenance of authoritarian regimes.

Latest Events

  • SkyCity Settles AML Violations in New Zealand Logo
    MAY
    22
    2024

    SkyCity Entertainment Group reached a settlement over historic breaches of New Zealand's anti-money laundering and counter-terrorist financing regulations at its Auckland, Queenstown, and Hamilton casino facilities.

  • -60

    Business Practices and Ethical Responsibility

    April 23

    The settlement over breaches of anti-money laundering and counter-terrorism financing regulations reflects a failure in upholding ethical business practices. Such violations can indirectly contribute to financing activities that undermine societal safety and can be linked to broader concerns around corporate accountability amid rising authoritarian influences.

    SkyCity Settles AML Violations in New Zealand - Casinos.com

  • SkyCity Faces Civil Proceedings Over AML/CFT Breaches Logo
    FEB
    12
    2024

    SkyCity Entertainment Group is set to appear in the High Court over civil proceedings brought by New Zealand's Department of Internal Affairs, related to alleged breaches of anti-money laundering and counter-terrorism financing laws. The case, which follows a recent $75 million penalty in Australia for similar breaches, involves five separate claims with a potential liability of $8 million, and highlights longstanding compliance issues.

  • -40

    Business Practices and Ethical Responsibility

    April 23

    The civil proceedings against SkyCity for breaches of AML/CFT laws point to shortcomings in robust business practices. Such non-compliance can inadvertently facilitate financial channels that might support extremist or terrorist activities, and reflects poorly on the company’s ethical responsibility, thereby contributing negatively from an anti-fascist perspective.

    SkyCity to face civil proceedings filed by Department of Internal Affairs

  • SkyCity Contracting Out Plan Blocked by Employment Relations Authority Logo
    NOV
    01
    2023

    SkyCity Entertainment Group's proposal to outsource cleaning services at its Auckland casino was blocked by the Employment Relations Authority, which found that the company had breached its contractual obligations regarding worker development, training, and respectful treatment as per the collective agreement with Unite and Service and Food Workers Union.

  • -50

    Labor Relations and Human Rights Practices

    April 23

    SkyCity's plan to contract out cleaning services violated its contractual and legal obligations to treat workers with decency and respect, including commitments to employee training and empowerment as set out in its collective agreement. This breach represents a disregard for labor rights and worker well-being, triggering regulatory intervention by the Employment Relations Authority.

    SkyCity contracting out plan blocked - union - Yahoo Finance

  • Union Protest Over Alleged Bullying at SkyCity Logo
    OCT
    26
    2023

    Unionists are planning a 'stop the bullying' rally at SkyCity's Auckland property in protest of alleged bullying and mistreatment of workers. The union claims that longstanding issues have led to a toxic workplace culture, while SkyCity maintains it is unaware of such claims and insists on its zero-tolerance policy for bullying.

  • -40

    Labor Relations and Human Rights Practices

    April 23

    The union protest highlights allegations of bullying and mistreatment within SkyCity, pointing to systemic labor issues and a failure on the company's part to adequately safeguard workers’ rights and wellbeing. This event reflects negatively on the company's labor relations and human rights practices.

    Unionists plan protest at SkyCity - NZ Herald

  • SkyCity Strike Action Over CEO's High Salary Logo
    OCT
    13
    2023

    Unionized cleaners and security workers at SkyCity Auckland have initiated strike action following stalled wage negotiations and concerns over the CEO's $1.5m salary. The Unite union reported that 30 cleaning staff, representing nearly unanimous support, will walk off the job, highlighting long-standing labor grievances and a widening gap between executive compensation and worker wages.

  • +70

    Labor Relations and Human Rights Practices

    April 23

    The strike action underscores critical labor rights concerns at SkyCity, as workers protest excessive executive pay amid stagnant wage negotiations. This event highlights the exploitation in labor practices and supports the anti-authoritarian agenda by empowering workers to demand fair treatment, aligning with progressive, worker-centric values.

    SkyCity CEO's $1.5m salary prompts cleaners and security to strike | BusinessDesk

  • SkyCity Fined for AML Breaches and Commits to Reforms Logo
    OCT
    01
    2023

    SkyCity Entertainment Group has agreed to pay a A$67 million (approximately $73m) penalty for anti-money laundering breaches. The company acknowledged its failure to meet required AML/CTF standards and announced a series of remedial actions including governance changes, the appointment of an independent expert for an AML/CTF review, and enhanced compliance measures.

  • +10

    Business Practices and Ethical Responsibility

    April 23

    The event highlights a significant breach in ethical business practices related to anti-money laundering, which required a hefty penalty. However, SkyCity's subsequent commitment to reform and enhancing its compliance measures demonstrates accountability and a corrective course, protecting communities and upholding regulatory standards.

    SkyCity Entertainment to pay $73m for anti-money laundering breaches

  • SkyCity Faces Prosecution and Potential License Suspension Logo
    SEP
    09
    2022

    Internal Affairs in New Zealand has initiated prosecution proceedings against SkyCity for significant compliance issues related to its host responsibility programme. The regulatory action, which includes an application to temporarily suspend the casino license and potential civil penalties of up to $8 million, follows historical non-compliance concerns and a complaint filed in February 2022.

  • -30

    Business Practices and Ethical Responsibility

    April 23

    SkyCity's compliance shortcomings, particularly in detecting continuous play as required by its host responsibility programme, signal a failure in upholding ethical business practices. This regulatory enforcement action reflects negatively on its commitment to protecting vulnerable patrons and ensuring responsible operations, with potential severe financial penalties indicating the seriousness of the violations.

    Internal Affairs to prosecute SkyCity, firm faces fine of up to $8m

  • SkyCity Faces Labor Strike Over Inadequate Pay Raise Logo
    AUG
    27
    2022

    Union members at SkyCity walked off the job after rejecting a pay offer that was significantly below a living wage, highlighting ongoing concerns about fair labor practices and wage disparities between long-serving and new employees.

  • -50

    Labor Relations and Human Rights Practices

    April 23

    SkyCity's pay offer, which was $1.50 below the living wage and maintained wage parity between veteran and new employees, has led to union-led strike action. This indicates inadequate support for worker rights and fair labor practices, reflecting negatively on the company's labor relations.

    SkyCity workers walk off job over pay offer | RNZ News

  • Casino Workers Strike Action Against Exploitative Shift Practices Logo
    AUG
    31
    2019

    SkyCity Casino workers in Auckland voted overwhelmingly to strike on August 31 in protest of the company's refusal to provide penalty rates for unsociable hours, highlighting a long-standing dispute over worker rights and exploitative scheduling practices at SkyCity.

  • -60

    Labor Relations and Human Rights Practices

    April 23

    SkyCity's steadfast refusal to offer penalty rates despite overwhelming union support exposes labor exploitation that undermines workers' rights and contributes to repressive business practices. This action aligns with broader concerns over corporate practices that disregard employee welfare.

    New Zealand: Casino workers set to strike

Corporate Financials

Revenue
2022
$477.00M
Total Assets
2022
$2.77B
Operating Income
2022
$135.00M
Total Equity
2022
$1.28B

Industries

713210
Casinos (except Casino Hotels)
713990
All Other Amusement and Recreation Industries
721120
Casino Hotels