Christchurch Casino

Christchurch Casino is a gambling casino located in Christchurch, New Zealand offering casino games, poker and keno. The 43,998-square-foot (4,087.5 m2) 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.

    * 1 Acquisition by Sky City
    * 2 Expansion plans
    * 3 New Zealand Poker Championships
    * 4 Kiwi Gaming
    * 5 Notes
    * 6 External links

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.