New Zealand

Australian wagering giant is reportedly looking to launch a takeover bid for the management rights of the fixed odds business of New Zealand’s TAB, the Australian Financial Review’s Street Talk reports.

The move is said to be part of the wagering giant’s push into overseas markets to diversify its earnings.

On Tuesday, The New Zealand Racing Board, which runs the TAB confirmed Tabcorp was one of three organizations bidding for the contract.

Casino operator SkyCity Entertainment Group Ltd has announced it will issue a total of 1,057,894 new shares to participating eligible retail shareholders.

Despite denials of any dispute with the board, speculation continues over the sudden departure of SkyCity chief executive officer.

New Zealand-listed SkyCity Entertainment intends to raise NZ$263 million of new equity from its shareholders to “fund future growth projects”.

New Zealand’s only listed casino operator, SkyCity Entertainment, is going through a period of transition, with a change in CEO prompting speculation over potential asset sales or takeovers.

Slot machine revenue in New Zealand’s pubs and clubs in the first quarter of 2016 are up from a year ago, according to figures released from the Department of Internal Affairs.

New Zealand’s Racing Minister is seeking feedback on proposed changes that will allow the country’s central betting agency to take bets on more events and accept wagers during horse races.

Casino operator SkyCity Entertainment Group says it is not opposed to a takeover approach from Australia’s Star Entertainment, but will not instigate talks.

SkyCity Entertainment Group has denied recent media reports it is considering the sale of its Darwin casino, New Zealand’s Scoop reports.

SkyCity Entertainment Group has announced the resignation of its CEO and managing director Nigel Morrison, effective April 29, 2016.