SkyCity Adelaide

The Hon. C. BONAROS (15:07): I seek leave to make a brief explanation before asking the Treasurer a question regarding SkyCity Casino.

Leave granted.

The Hon. C. BONAROS: As we heard yesterday, SkyCity Casino issued a statement that it was being investigated by AUSTRAC after the financial crimes watchdog identified potential serious noncompliance issues between 2015 and 2019. The company said AUSTRAC's concerns were raised as part of a compliance assessment commenced in September 2019 focusing on the Casino's 'management of customers identified as high risk and politically exposed persons'. My questions to the Treasurer are:

1. Has the Treasurer or anyone else sought advice on what type of person would be defined as 'politically exposed'?

2. Did SkyCity Entertainment Group advise the government of the AUSTRAC investigations prior to the ASX announcement yesterday and, if so, when?

The Hon. R.I. LUCAS (Treasurer) (15:08): I was intrigued by the use of the phrase 'politically exposed persons' because I am not sure that there is a legal definition of that, so I do not know the answer to the question of what AUSTRAC meant by that phrase. In relation to the second or third question, my understanding is that SkyCity advised I am not sure exactly who—it might have been the commissioner or the Attorney-General; I think it might have been the Commissioner for Consumer and Business Services—sometime prior to the ASX announcement that they were going to make an announcement to the ASX at the opening of business.

My understanding is that it would have been around about the last 24 hours before that, but if I have that time period wrong I will correct the record. As with market sensitive information, companies are obviously at varying stages—when they make a judgement that there is something that they need to advise the market of they need to do so within the broad guidelines that apply to them. I think they did that at the opening of business on the Monday, I guess it would have been.

The PRESIDENT: The Hon. Mr Pangallo has a supplementary question.