SkyCity to pay $25.6m fine over its Adelaide casino

Casino operator SkyCity Entertainment says it has reached an agreement to finally resolve all regulatory matters related to its Adelaide Casino.

The resolution of the Adelaide Independent Review was that SkyCity would pay a total fine of $25.6 million in three equal payments of (A)$7m each.

It followed a lengthy investigation by the Australian regulator, the Commissioner for Liquor and Gambling in South Australia.

The State of South Australia, SkyCity Entertainment and SkyCity Adelaide were expected to finalise the binding settlement agreement shortly.

SkyCity chief executive Jason Walbridge said the in-principle agreement was an important step for the business, which had worked to transform its compliance culture, strengthen its governance, and earn back the trust of our regulators.

"We accept the findings that led to this outcome and take seriously the obligations we have committed to.

"The structural changes for the Adelaide Casino - including an independent Adelaide board and locally accountable leadership - reflect a genuine commitment to operating as a responsible casino operator," Walbridge said.

"We are grateful for the constructive engagement of the Commissioner's office throughout this process."

Details of the agreement were detailed in SkyCity's market statement to the NZX.