Trust client manager Peter Faulkner, of Hulton Patchell, said there were no current plans for a casino and the trust was not lobbying the Government for a law change.
"If the legislation was changed we would have to give it some serious consideration, but it's not on our priority list."
Mr Faulkner said if a casino were an option, it would make the viability of a five-star hotel at the Lakefront much more attractive. "But a casino is not an option for us right now."
Rotorua MP Todd McClay said he wasn't opposed to casinos but had heard no compelling arguments for one in Rotorua that would warrant a law change.
"The discussion would be an interesting one and we would have to weigh up the benefits versus the harm to the community," he says.
District councillor and chairman of the council's economic and regulatory services committee, Mike McVicker, said a casino would be the answer to Rotorua's prayers and help eliminate "all the dingy pokie halls".
However, councillor Maureen Waaka, a long-time opponent of gambling in any form, said she would fight against any plans to build a casino in Rotorua.
"We have too many in New Zealand already. It's not the way our tourism industry should move forward, off the back of ill-spent gains of other people's losses," she says.
"Rotorua should stick to the things it does well."
Mrs Waaka said it was unlikely the law would be changed, although it wouldn't surprise her after the SkyCity deal with the Government allowing 500 new poker machines in exchange for a new convention centre in Auckland.
Rotorua mayor Kevin Winters said he would not support a casino unless there was comprehensive community involvement and support.
"Clearly a casino would have appeal to some of our international visitors, such as our fast developing Chinese market, so there could be economic benefits on offer for us here in Rotorua. However, on the downside there are potentially real social issues around the risk of increased problem gamblers and that would be a significant concern for me."
