SkyCity is expanding all over New Zealand’s gambling market. Last week, the casino operator introduced a bill that would expand SkyCity Auckland’s gambling license for another 20 years and is now making plans to purchase Lasseter’s Wharf Casino in Queenstown.
The Commerce Commission has recently granted SkyCity permission to purchase the gambling venue, which is currently owned by Otago Casinos. The acquisition of the casino will mean that SkyCity will own both casinos in Queenstown, but the Commerce Commission states that this will not negatively affect competition in the local gambling market.
SkyCity will further encourage competition by converting the Wharf Casino into a high roller venue. While SkyCity Queenstown caters to all types of gamblers, the new Wharf Casino will be targeted at players who are more interested in playing high-stakes games. This is a common business strategy for many local gaming operators, as VIP gambling is quite a lucrative market.
”We are focusing on upgrading our VIP offering in Queenstown, so we have an offer to complement our Horizon VIP offering in Auckland,” says CEO Nigel Morrison said.
The transition is still in its initial stages. There is no word yet on when SkyCity will begin renovating The Wharf Casino.