stake of about 11 percent. LetsPlay.Live SkyCity entered the esports market in October 2017 when it formed a joint venture with Let's Play Live Media (LPLM). SkyCity acquired a 40% stake in LPLM and built an esports broadcasting studio in the Sky Tower which opened in February 2018. Since July 2019, SkyCity has had full ownership of LPLM. Controversy Alongside other eligible New Zealand businesses, SkyCity Entertainment Group received significant financial support in the form of wage subsidies from the New Zealand government as part of a widespread economic stimulus programme following the COVID-19 outbreak. After initially receiving NZ $21.6 million in taxpayer-funded assistance, the company received an additional tranche of $9.4 million from the central government in July 2020. In all, SkyCity Entertainment Group received over $30 million from New Zealand taxpayers in 2020. Despite then subsequently posting a profit of over NZ $66.3 million, SkyCity steadfastly refused to repay the funds in spite of its bumper profits, a move which was widely condemned across the New Zealand political spectrum and identified as an example of the "waste" and "fraud" treasury had earlier warned of. On first week of June, 2021, Australian financial watchdog AUSTRAC intimated SkyCity Entertainment Group along with Crown Resorts and Star Entertainment Group about "potentially serious breaches" of anti-money laundering regulations at their casinos in Adelaide, Perth and Sydney respectively. See also Gambling in New Zealand Crown Resorts Star Entertainment Group References Gambling companies of New Zealand Companies based in Auckland Gambling companies established in 1996 Companies listed on the Australian Securities Exchange Companies listed on the New Zealand Exchange New Zealand companies established in 1996 Entertainment companies established in 1996 Online casinos