SKYCITY Entertainment Group poised to enter online gaming

Company News

by Rachael Jones

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. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.