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SkyCity granted clearance to acquire Otago Casinos

Media release - SkyCity granted clearance to acquire Otago Casinos
Issued 17 July 2013
Release No. 2

SkyCity granted clearance to acquire Otago Casinos

The Commerce Commission has cleared SkyCity Entertainment Group Limited to acquire Otago Casinos Ltd.

The proposed acquisition would result in SkyCity owning both casinos in Queenstown, SkyCity in the CBD and Otago Casinos at the Queenstown wharf. 

The Commission is satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in the national market for gambling entertainment for premium gamblers, or in the Queenstown market for ordinary gamblers.

“This was an unusual application because gambling is strictly regulated in New Zealand,” said Commerce Commission Chairman Dr Mark Berry.

“The removal of competition between the two Queenstown casinos would not materially impact on competition given this high level of regulation and the other constraints SkyCity would continue to face. There were also likely to be improvements to the gambling facilities in Queenstown as SkyCity proposed to upgrade the Wharf Casino,” Dr Berry said.

A public version of the written reasons for the decision will be available soon on the Commission‘s website at www.comcom.govt.nz/clearances-register

Background

SkyCity is a public company which owns and operates casinos in Auckland, Hamilton, Queenstown, Adelaide and Darwin.

Otago Casinos is owned by Singapore-based Lasseters International Holdings.  It operates the Wharf casino in Queenstown and another in Alice Springs.

ENDS

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