SkyCity Pursues Two New Zealand Online Casino Licences to Meet Return Targets
New Zealand.- 22 October 2026 | www.zonadeazar.com SkyCity Entertainment Group has confirmed that it will apply for two online casino licences in New Zealand, rather than the maximum three permitted under the country’s new regulatory framework.
The decision was explained by CEO Jason Walbridge during the company’s annual shareholder meeting in Auckland on 21 October 2026.
Walbridge said the group intends to keep its investment within established risk-adjusted return targets, prioritising financial sustainability as it prepares to enter the regulated online casino market.
NZ$30 Million Investment
SkyCity secured the right to apply for two licences through New Zealand’s recent regulatory auction.
Key figures include:
- Two licence application rights secured by SkyCity.
- NZ$15 million per licence, excluding GST.
- NZ$30 million in total licence fees.
- 15 licences available across the regulated market.
- A maximum of three licences per operator.
Walbridge explained that the final auction price was consistent with the financial scenarios previously modelled by the company.
The decision to pursue two licences reflects a deliberate capital allocation strategy designed to achieve appropriate investment returns.
SkyCity Highlights Its Casino Experience
The group believes its established position in New Zealand provides an advantage as it prepares to enter the online market.
SkyCity has approximately 30 years of experience operating land-based casinos, allowing it to build on its brand recognition and understanding of local customers.
The company also highlighted its expertise in:
- Player protection and responsible gambling.
- Anti-money laundering compliance.
- Regulatory obligations.
- Casino operations management.
- Commercial strategy and customer engagement.
Walbridge noted that the new regulatory framework will allow licensed operators to advertise their online casino offerings, subject to the applicable rules.
Regulated Market Expected to Launch in 2027
New Zealand is introducing a licensing system that will allow authorised companies to operate online casino brands.
The framework provides for a maximum of 15 licensed brands, with each licence covering a single brand.
SkyCity expects the regulated market to launch during the second half of its 2027 financial year.
However, Walbridge acknowledged that competition could be intense, particularly regarding the level of advertising undertaken by licensed operators.
Securing application rights does not mean the licences have already been granted. SkyCity must still complete the regulatory assessment process.
SkyCity Also Reviews Potential Acquisition Proposals
During the annual meeting, group chairman Julian Cook provided an update on the company’s process for evaluating potential acquisition proposals.
The board previously rejected two preliminary approaches after concluding that they did not adequately reflect the value of the business.
SkyCity will continue considering potential proposals with support from advisers UBS and Chapman Tripp.
The group confirmed that no improved offers had been received and emphasised that there is no certainty the process will result in a transaction.
Next Steps and Industry Impact
SkyCity will continue preparing its licence applications and developing its strategy for entering New Zealand’s regulated online casino market.
The company aims to combine its land-based casino expertise with the commercial opportunities created by the new framework.
For the iGaming industry, SkyCity’s decision highlights the importance of balancing investment, profitability and regulatory compliance when entering newly regulated markets.
Editó: @fonta
