SkyCity Entertainment group part ways with Chief Risk Officer
SkyCity Entertainment Group Limited has announced Chief Risk Officer Carolyn Kidd has quit her role, in the latest blow to the embattled gambling company.
Kidd, who joined SkyCity in April 2023, was employed following the Australian financial crimes watchdog — AUSTRAC — identifying alleged breaches of anti-money laundering laws at the group’s Adelaide casino.
Despite Kidd’s appointment SkyCity Casino Group has continued to struggle with a weakened financial performance as their revenue and earnings align with the cost-of-living crisis and subdued consumer spending.
SkyCity, prior to Kidd’s appointment, was also slapped with a $67million fine for anti-money-laundering breaches and an independent inquiry into governance failings at the Adelaide Casino.
SkyCity Chief Executive Officer Jason Wallbridge said Kidd had played a key role in cleaning up their practices across the group.
“Carolyn has played an essential role in strengthening SkyCity’s risk capability in New Zealand and South Australia, including uplift across host responsibility, financial crime, and enterprise risk management,” he said.
“I’m grateful for her leadership and the positive impact she has made during her time with SkyCity.”
SkyCity announced it had returned to profit in August of this year, with an AUD$26.2million profit for the previous 12 year, with this labelled a decent result given the heightened regulatory pressure, which included their “Building A Better Business” program.
Chief rival in the Australian-New Zealand gambling space Crown Resorts has run into regulatory issues of its own, with money-laundering and junket operations making headlines in recent times.
