SkyCity’s rising dominance in focus

    Published in: Latest IntelligenceSkyCity Entertainment Ltd. has notched up deals in recent weeks to expand capacity at its flagship casino in Auckland and take over a casino in Queenstown, the only place in New Zealand home to multiple casinos.Factoring in a December deal to swap its Christchurch casino stake for full ownership of Queenstown’s other casino, the company now wholly owns four of the country’s six casinos and won’t face new competition since the further issuance of licenses is forbidden under a 2003 law.Its dominance, however, is under unprecedented scrutiny as critics question the privileges the government agreed to grant SkyCity in exchange for funding, building and operating a NZ$402 million ($319.2 million) convention center in Auckland and highlight the more extensive demands the company made during three years of negotiations as revealed in newly released documents. SkyCity is counting on drawing traffic to events at the convention center,...

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