SkyCity announces launch of offshore online gaming site
9 August 2019
SkyCity announces launch of offshore online gaming site via Maltese subsidiary
SkyCity Entertainment Group Limited (NZX/ASX:SKC) today announced that its Maltese subsidiary, SkyCity Malta Limited, has launched its offshore online gaming site ‘skycitycasino’ under a .com URL.
This follows the announcement in May 2019 of SkyCity’s partnership with international iGaming company Gaming Innovation Group Inc (GiG) to provide New Zealanders with an offshore online casino platform.
On news of the announcement, SkyCity’s Chief Executive Officer, Graeme Stephens said:
“This is an exciting day for SkyCity and one we have been working towards for some time alongside SkyCity Malta and our partners at GiG. While ultimately a regulated online gaming market remains the preferred solution, the site launch is another step on our journey of pursuing opportunities to grow and diversify our earnings, addressing a new, fast growing industry which is highly complementary to our land-based activities and offering customers a multi-channel gaming experience’’.
The existing online casino market in New Zealand is well established (with a number of sites in operation) with estimates suggesting approximately $160 million a year is spent by New Zealanders on online casino platforms currently provided by offshore operators.
SkyCity remains supportive of regulating the New Zealand online casino market, including introducing an appropriate licensing regime for operators and imposing taxes and mandatory host responsibility requirements.
As previously highlighted, GiG will provide SkyCity Malta with a full-suite online casino solution which includes a technical platform, gaming content, managed services and frontend development. The skycitycasino online gaming business will be managed by an Online Director (Steve Salmon) who is based in Europe.