SkyCity no longer accepts junkets on a permanent basis.

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SkyCity, a casino and gaming company, has broken relations with junket operators with immediate effect.

Junket operators are companies that hire high-rollers for organised casino tours, finance their gaming, and recover any debts owed.

They also get a fee from the casino depending on the total amount of money wagered by the players.

The decision is the outcome of a strategic analysis of the company’s foreign operations, which was hinted at in the company’s half-year results.

“The SkyCity board has determined to permanently cease dealing with all junket operators, effective immediately, and continue to operate its international business division under a revised operating model,” it said in a statement to the stock exchange.

The corporation gave no explanation for terminating the deal.

However, junkets have recently come under fire after an Australian investigation into a Sydney-based casino discovered that operators posed a money-laundering danger, with some connected to organised crime gangs.

SkyCity said that it will now communicate with its operations in New Zealand and South Australia about the changes.

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“Under the revised operating model, SkyCity will deal directly with international business patrons after appropriate know your customer and customer due diligence requirements are satisfied.”


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