Christchurch Casino
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Christchurch Casino is a gambling casino located in Christchurch, New Zealand offering casino games, poker and keno. The 43,998 square foot casino was New Zealand's first when it opened in 1994. The casino operates five hundred slot machines and thirty-four table games. The property has three restaurants and two bars.
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[edit] Acquisition by Sky City
On June 29, 2004, Sky City Entertainment Group announced that it had settled the acquisition of Aspinall (NZ) Limited, which held a 40.5% shareholding in Christchurch Casinos Limited. The purchase price was NZ$93.75 million (on a debt free basis). The deal marked the end of an era for Aspinall.
Skyline Enterprises, which controls a 41 per cent stake in the casino, had opposed SkyCity's purchase of a matching stake from Aspinall earlier in 2004. As part of his resistance to the deal, Mr. Thomas had refused to cooperate over due diligence. Skyline had attempted to purchase the 41 per cent stake from Aspinall but had been rebuffed.
Skyline Enterprises chairman Barry Thomas had objected to the SkyCity purchase on the basis that it gave SkyCity an interest in five out of six New Zealand casinos. The deal was nonetheless approved by both the Casino Control Authority and the Commerce Commission. In clearing SkyCity's application, the Commerce Commission said that the deal would not substantially restrict competition in the Auckland, Christchurch and Dunedin casino entertainment markets.[1]
Sky City Entertainment Group Managing Director, Evan Davies, said that Sky City's acquisition of the shares in Aspinall and its interest in CCL was a logical extension of its New Zealand operations and in line with the company's investment strategy. The acquisition was motivated in part by the 2003 Gambling Act which outlaws the opening of any new casinos in New Zealand.[2]
[edit] Expansion plans
On October 31, 2005, Sky City Entertainment chief executive Evan Davies hinted at expansion plans for the investment at Sky City's 2005 annual meeting.
"Sky City paid $93.75 million for a 41 per cent share in the casino last year and Mr Davies indicated that Sky City saw an opportunity to 'refresh and re-present' the business.[3]
[edit] New Zealand Poker Championships
Christchurch hosts the New Zealand Poker Championships.[4]
[edit] Kiwi Gaming
Under New Zealand's Gambling Act, only the TAB and New Zealand Lotteries are permitted to offer gaming products over the Internet or by phone because of the heightened risk of problem gambling. In order to comply with this legislation, Christchurch Casino provides its online services through a subsidiary, Kiwi Gaming. Under the Kiwi brand name, Christchurch owns eight online casino, online poker, and online bingo sites. Kiwi Gaming launched their first online casino, KiwiCasino.com in 2000. They added their online bingo properties, KiwiBingo.com and TikiBingo.com in 2001. The company launched KiwiSkill.com, KiwiPoker.com, BlackpoolArcade.co.uk and FastWinCasino.com in 2005. They launched a UK targeted bingo site, BlackpoolBingo.co.uk in 2006.
The casino's business focuses mainly on overseas players. Christchurch Casino acting Chief Executive, Stephen Lyttleton said that the company screens for gamblers based in New Zealand "to the best of our ability" by not accepting registrations from people with a New Zealand Internet or mailing address or from people with a credit card issued in New Zealand.[5]
Kiwi Gaming's suite of gaming websites use Playtech and FUN Technologies software.
[edit] Notes
- ^ SkyCity Completes Casino Deal Sky City gets nod for casino purchase
- ^ Sky City press release:Cleared To Buy Interest In Christchurch Casino
- ^ Casino City Times: Christchurch Casino May Get Makeover
- ^ New Zealand herald:Dumped Black Cap turns to competitive poker
- ^ Online Casino News: Christchurch Online Casino Group Continue Expansion
