The online casino is launched through SkyCity’s Maltese subsidiary SkyCity Malta.
The platform, casino content, managed services, front-end development, compliance, CRM and marketing is all being handled by GiG since SkyCity themselves specialise in operating brick-and-mortar casinos in both New Zealand and Australia.
SkyCity CEO Graeme Stephens spoke about the online casino launch, stating that the company didn’t expect any immediate impact on their revenue.
Instead, the move represents a step on the mission of “pursuing opportunities to grow” and address the “new, fast-growing industry” of online gambling.
The partnership between SkyCity and GiG was first announced in May 2019, and the online casino is being operated from Malta in order to circumvent New Zealand’s gambling laws that only allow state-run TAB and Lotto to provide online gambling services.
Potential Market Impact
The news of this new New Zealand-facing casino arrived shortly after the country’s government announced a new public consultation.
The aim of this is to find out from the general public about whether the current regulations of iGaming should give way to a more liberal framework to allow more companies to obtain licenses to operate.
Interested parties have until the end of September to voice their opinions.
For their part, SkyCity has stated that a “regulated online gaming market” would be their preferred solution. Their agreement with GiG would allow the operator to assume control of the B2C part of the joint business if the market was liberalised in New Zealand.
Though statistics show that gambling is popular in New Zealand, recent news emerged that the Department of Internal Affairs has been mulling a ban on the use of credit cards for gambling.
This would be a measure to protect local gamblers from spending more than they could afford on unregulated gaming, so it is clear that there are still concerns about what more liberalised online gambling regulations would look like.