2 weeks Ago By Anne Gibson
Shareholders voiced anger at today’s annual SkyCity Entertainment Group shareholder meeting., raising concerns about compliance proceedings, actions and investigations to hit the company. Beryl Plimmer of the NZ Shareholders’ Association said the way this had been presented at today’s meeting, referred to as historical, made it sound like these had occurred last century but that was untrue.
Chairman Julian Cook agreed the action was not in the last century but more recent and he particularly referred to SkyCity’s Adelaide casino operation. The company was in a much better position for compliance now “but we still have gaps. We have transformational programmes for a reason.
The investigation in relation to Adelaide commenced in 2022 so that’s not a new investigation but it’s taking its time to do its work and probably to look at the programme of work we now have in place in Adelaide”, Cook said. Another shareholder said the company had been mismanaged, asked about directors’ accountability given regulators’ actions and referred to the board’s responsibility rather than the shareholders’, to meet legal and compliance obligations..
