SkyCity shares are expected to take a hit in the short-term because of an investigation into its Adelaide casino
SkyCity shares are expected to take a hit in the short-term because of an investigation into its Adelaide casino
9 June 2021
Australia's financial monitoring agency is looking into possible serious non-compliance with anti-money laundering and counter-terrorism laws.
Andrew Kelleher from JMI Wealth says the allegations relate to activities in 2015/16 and 2018/19 so it could be a long investigation.
He says SkyCity's New Zealand share price fell by nearly six percent yesterday.
However, Kelleher says at the moment it looks like the company will step through the investigation and come out the other side.
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