Industry Reactions
Stake New Zealand expressed enthusiasm about the development. "We’re really excited about the opportunity in New Zealand as the market moves towards regulation," said a Stake spokesperson. "It’s a strong fit for Stake and another important step in growing our presence globally. This follows our expansion into Alberta, Argentina and Mexico this year, and reflects our wider strategy of entering new markets where we see long-term potential."
SkyCity Entertainment Group, which secured two application rights through separate subsidiaries, also welcomed the announcement. "We are excited to have been successful in the auction to apply for two licences and to be taking the next step towards entering the online casino gambling market in New Zealand," said chief executive Jason Walbridge. "We know New Zealanders trust the SkyCity brand, and we will combine that trust with our deep knowledge of the New Zealand market to build a successful online business here."
Following the announcement, shares in SkyCity Entertainment Group Ltd. (NZE:SKC) gained 2.26 per cent on Tuesday to close at NZ$0.68 per share.