SkyCity resolves dispute with South Australian treasurer with $38.1m payment
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The news: SkyCity Adelaide will pay $13.1 million of additional casino duty and $24.8 million in interest after accepting an offer from the treasurer of South Australia to resolve a long-running dispute.
The numbers: The casino operation will also pay $200,000 of the treasurer’s costs. The payments encompass casino duty return periods from January 2014 to January 2024.
The context: The dispute related to the treatment of loyalty points converted to gaming machine play for the purpose of calculating casino duty at SkyCity Adelaide casino and the associated legal proceedings.
The matter has been the subject of a longstanding contractual dispute concerning the interpretation of the agreement.
What they said: SkyCity chief executive Jason Walbridge said: “This has been a long running matter involving highly technical tax issues regarding the calculation of casino duty and the interpretation of the agreement”.
“SkyCity is pleased the matter has been resolved and will continue to work with RevenueSA to ensure a cooperative and constructive relationship.”
The source: ASX announcement
