Christchurch Casino
| Christchurch Casino | |
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Logo of Christchurch Casino
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| File:ChristchurchCasinoC2239.JPG
Main entrance to Christchurch Casino on Victoria Street
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| Address | 30 Victoria Street Christchurch, New Zealand |
| Opening date | 1994 |
| Number of rooms | 0 |
| Total gaming space | 43,998 sq ft (4,087.5 m2) |
| Casino type | Land |
| Website | www |
Christchurch Casino is a casino located in Christchurch, New Zealand offering casino games. The 43,998 sq ft (4,087.5 m2) casino was New Zealand's first when it opened in 1994. The casino operates five hundred slot machines[citation needed][when?] and thirty-four table games.[citation needed][when?] The property has three restaurants and two bars. Entry is restricted to patrons above the age of 20.[1]
Contents
Acquisition by Sky City
On 29 June 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.[2]
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.[3]
Expansion plans
On 31 October 2005, Sky City Entertainment chief executive Evan Davies hinted at expansion plans for the investment at Sky City's 2005 annual meeting.[citation needed]
"Sky City paid $93.75 million for a 41 per cent share in the casino last year and Mr Davies indicated that Sky City saw an opportunity to 'refresh and re-present' the business.[4]
New Zealand Poker Championships
Christchurch hosts the New Zealand Poker Championships.[5]
See also
References
- ↑ http://www.christchurchcasino.co.nz/casino_information/general_information
- ↑ SkyCity Completes Casino Deal Sky City gets nod for casino purchase
- ↑ Sky City press release:Cleared To Buy Interest In Christchurch Casino
- ↑ Casino City Times: Christchurch Casino May Get Makeover
- ↑ New Zealand herald:Dumped Black Cap turns to competitive poker
External links
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Wikimedia Commons has media related to Christchurch Casino. |
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- Casinos completed in 1994
- Casinos in New Zealand
- Gambling companies of New Zealand
- Christchurch Central City
- Visitor attractions in Christchurch
