SKYCITY Entertainment Group Limited has announced that its Maltese subsidiary, SKYCITY Malta Limited, will partner with international iGaming company Gaming Innovation Group Inc (GiG) to provide an online casino gaming platform to New Zealand.
The “skycitycasino” online gaming site is expected to be launched in mid-2019 and will be operated from Malta under a .com URL, the company revealed early Wednesday.
As part of the agreement, GiG will provide a full-suite online casino solution including a technical platform, gaming content, managed services and front-end development. The partnership will be structured primarily as a revenue share arrangement, with the majority of operating costs linked to revenue generation.
Although online gaming in New Zealand can only be offered by the TAB and government-owned Lotto, SKYCITY said it will ensure its obligations under New Zealand GST legislation are met despite the site being operated from Malta.
“Online casinos are widely used by New Zealand customers and this trend will only continue,” said SKYCITY CEO Graeme Stephens. “The world is rapidly moving online and our industry is no exception, so we have to ensure we remain relevant to changing consumer trends and preferences.
“As an established land-based casino operator with significant investments in New Zealand and a track record of compliance in a highly-regulated environment, we know a great deal about host responsibility and harm minimization. We believe the ‘skycitycasino’ online gaming site offers customers an opportunity to enjoy playing in a safe, secure environment with a brand they know and trust and we will be striving to set the benchmark for any regulation in the future.
“This means SKYCITY is not initially expecting to monetise materially from this initiative – it should be seen more as a strategic entry into a space that we believe has long-term relevance.”