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SkyCity Entertainment Group (ASX: $SKC) granted special leave to appeal South Australian casino duty dispute

  • Author: Stock Piper

Update on South Australian casino duty dispute


SkyCity Entertainment Group Limited (ASX: $SKC) has been granted special leave to appeal in the South Australian casino duty dispute. The High Court of Australia has allowed SkyCity Adelaide Pty Limited to appeal the interpretation of the Adelaide Casino Duty Agreement, specifically regarding the treatment of loyalty points converted to gaming machine play for calculating casino duty at the SkyCity Adelaide casino.

Executive Commentary


The High Court's decision to grant special leave to appeal is a significant development in the ongoing dispute. We remain committed to seeking a resolution to this matter and will continue to engage in the legal process to clarify the interpretation of the Agreement. The outcome of the appeal will have implications for the treatment of loyalty points and the calculation of casino duty, and we await the High Court's full hearing later this year for further clarity on this matter.

Summary of South Australian casino duty dispute update


SkyCity Entertainment Group's update on the South Australian casino duty dispute highlights the High Court of Australia's decision to grant special leave to appeal the interpretation of the Adelaide Casino Duty Agreement. The appeal will address the treatment of loyalty points converted to gaming machine play for calculating casino duty at the SkyCity Adelaide casino. The outcome of the appeal could impact the interpretation of the Agreement and the potential financial implications for SkyCity Adelaide. The company will await the High Court's full hearing later this year for further clarity on the matter and the potential implications for its financial obligations.

SKYCITY ENTERTAINMENT GROUP LIMITED
SKC | ASX | Consumer Discretionary
1.34-0.0049999999999999(-0.37%)
At close 05/07 (AEDT)
Market cap
$1.0B
Volume
638,224
DY Yield
7.78
PE Ratio
134
52 Week Range
1.27 - 2.2
1YR Return
-62.465%

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