New Zealand

New Zealand-listed SKYCITY Entertainment Group has reported normalized revenue and earnings for the group up 10.2 percent to NZ$562 million (US$382.5 million) for the six months ended Dec. 31, 2015, according to an interim report.

New Zealand gamblers spent nearly NZ$2.1 billion (US$1.38 billion) in 2015, an increase of NZ$25.5 million, or 1.2 percent according to latest statistics from the New Zealand Department of Internal Affairs.

New Zealand-based casino operator SkyCity Entertainment Group expects to report net profit rose by 30.2 percent to NZ$71 million (US$47.4 million) in the first half of 2016 financial year ended Dec. 31, 2015.

Spending on pokie machines other than in casinos in New Zealand went up in 2015 despite a fall in the number of machines, reaching NZ$828 million (US$545 million) according to the Department of Internal Affairs which electronically monitors all machines.

The two percent rise in spending in 2015 comes about despite a fall in “licence holders fell from 312 to 300, venues from 1287 to 1238, an almost 4 percent decline, and gaming machines dropped almost 2 per cent from 16,717 to 16,393”.

Skycity Entertainment Group Limited expects strong financial performance in the first half of FY16, according to interim results guidance filed with the New Zealand Stock Exchange.

SkyCity CEO Nigel Morrison and Fletcher Building CEO Mark Adamson witnessed the demolition works on 16 buildings that currently occupy the future site of the New Zealand International Convention Center (NZICC) and the Hobson Hotel, a 5-star, 300 room hotel, kicking off a 38-month building project.

The $700 million project is one of the largest construction projects in downtown Auckland since the Sky Tower was built.

Problem gambling continues to be more prevalent in Maori and Pacific New Zealanders, than among New Zealanders as a whole, according to a Ministry of Health National Gambling Study.

The research was conducted by Auckland University of Technology, between 2012 and 2013.

According to the results from 2013, 1.6 percent of Maori were problem gamblers, compared to a 0.6 percent prevalence in Pacific people, 0.4 percent in Asian people and 0.3 percent in New Zealand European/other.

Governments from Singapore to New Zealand are concerned about their citizens betting offshore and are looking for ways to recapture, or replace, tax revenue and income for racing clubs and sporting bodies.

 

 

Governments from Singapore to New Zealand are concerned about their citizens betting offshore and are looking for ways to recapture, or replace, tax revenue and income for racing clubs and sporting bodies.

 



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A New Zealand taskforce on off-shore betting in the racing industry is recommending a fee be imposed on offshore bookmakers who are thought to be taking about NZ$58 million ($40 million) a year in bets from New Zealand gamblers.

New Zealand’s government is reviewing the gambling sector amidst concern about decreasing returns available to fund community projects.

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