Sky City seeks approval for Christchurch Casino deal

Sky City has applied to the Commerce Commission for clearance to buy Aspinall (NZ) Limited, which owns a 40.5 per cent stake in Christchurch Casinos.

Christchurch Casinos owns and operates the Christchurch Casino.

Sky City Entertainment needs regulatory approval from the commission as well as the Casino Control Authority and Overseas Investment Commission for the $93.8 million deal to proceed.

If the approvals are granted Sky City would have control of, or a stake in, all six New Zealand casinos, except one small operation in Queenstown.

When Sky City announced the purchase in early April its chief executive Evan Davies said he was confident the commission would approve the deal because casinos were regional and prices were set by the Government.

Christchurch Casino, which opened in November 1994, operates 500 gaming machines, 45 gaming tables, two restaurants and three bars.

Skyline, which owns 41 per cent of the casino, also expressed interest in buying out Aspinall and has expressed its vehement opposition to Sky City gaining a stake in the business.

- NZPA