SkyCity Entertainment Group Ltd
SKC: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$3.90 | Kqgkjt | Zdyzkhr |
SkyCity: Austrac Fine Gives a Bit of Certainty Amid a Shroud of Doubt
The Australian Transaction Reports and Analysis Centre has landed on a AUD 67 million civil penalty in relation to SkyCity Adelaide’s historical failure to comply with anti-money-laundering rules. The fine itself—about NZD 73 million—is a little better than our NZD 79 million expectation, but not materially so. More prominently, the fine now reduces some of the uncertainty hanging over the company.