Casino operator SKYCITY Entertainment Group (ASX:SKC)
has today announced that its Maltese subsidiary company, SKYCITY Malta, will partner with international iGaming company Gaming Innovation Group Inc (GiG) to provide New Zealanders with an online casino gaming platform.
The launch is expected in the middle of this year and will be operated from Malta under a .com URL.
Under current New Zealand law, only Government-owned Lotto and the TAB are permitted to offer online gaming from within New Zealand, however many New Zealanders freely participate in online casinos provided by offshore operators.
The existing online casino market in New Zealand is well established with estimates suggesting approximately $160 million a year is spent by New Zealanders on online casinos.
SKYCITY Chief Executive Graeme Stephens says they are not initially expecting to monetise materially from this initiative.
Shares in SKYCITY Entertainment Group (ASX:SKC)
1.1 per cent lower at $3.61 yesterday.