WELLINGTON May 13 The New Zealand government
said on Monday that it had reached agreement with casino
operator SkyCity Entertainment Ltd to build a national
convention centre in return for an increase in gaming machines
and other rules changes.
SkyCity will build, own, and operate the convention centre
at an estimated building and land costs of NZ$402 million ($332
Economic development minister Steven Joyce said SkyCity
would have its gaming licence extended to 2048, be allowed to
operate a further 230 gaming machines, 40 new gambling tables,
and other change to rules.
He said the project is expected to create 1,000 jobs in
construction and 800 jobs when the centre is open, with an
annual injection of around NZ$90 million.
Shares in SkyCity, a top-10 stock, closed on Friday at