SkyCity gets 27-year Auckland licence extension, 230 more slots to build convention centre

Sun, 12 May 2013

May 13 (BusinessDesk) – SkyCity Entertainment Group has gained a 27-year extension to its Auckland casino licence and can add 230 slot machines and 40 gaming tables in exchange for meeting the $402 million construction, fit-out and land costs of a new convention centre in the city. The company is gaining concessions with a net present value of $316 million, according to a base case scenario assessed by Korda Mentha. The value range was put at $261 million to $329 million. The agreement signed this morning between the government and the compa...

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