The government department is taking charge of regulating the Skycity Entertainment Group’s casino licences. The government applied to suspend the casinos in all three New Zealand venues.
In NZX, an announcement is issued and the Department of Internal Affairs asks the gambling commissions to take the temporary suspension on Skycity Casino managements Limited. still, the casino operator’s licence is in the period of 10 days.
This extraordinary movement occurred after a former customer’s complaint about the hosting responsibility. In the opening minutes of share trading, Skycity share prices dropped by 23c which is 9.9% to $2.10.That means it’s wiping out nearly $174 million from its market capacities to $1.59 billion.
SkyCity casino management holds the casino operator’s licence for Hamilton, Queenstown, and Auckland.
According to the government’s statements
“The commission will now consider whether to make an order to suspend SCML’s casino operator’s licence and, if so, the duration of any such suspension. A decision may not be forthcoming for a number of months,”
This application was made under the New Zealand Gambling Act of 2003. After the companion of February last year from the former customers who gambled at the SkyCity Auckland casino in 2017.
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