Local Casinos in New Zealand Concerned Over Upcoming Online Gambling Changes

December 12, 2024 William Johnson Asia Pacific, Casino & Gambling, Finance, World 0

New Zealand Casinos Urge Government to Prioritize Local Operators in Online Gambling Regulation

Local casino operators in New Zealand are expressing concerns about the potential impact of new online gambling regulations.

The government has announced plans to issue 15 licenses for online casino operators, which will be auctioned off to the highest bidders. This move has raised fears among local operators that they may be outbid by large offshore companies with considerable financial resources.

Government’s Regulatory Proposal

The government aims to regulate online gambling by issuing licenses and imposing a 12 percent gaming duty on gross betting revenue for offshore operators.

This measure is expected to generate an average of $179 million annually over four years, totaling $719 million. However, local casinos argue that this could lead to foreign operators dominating the market, potentially sidelining New Zealand-based businesses.

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Local Operators’ Concerns

Jason Walbridge, SkyCity’s chief executive, emphasized the importance of having local licensed operators to protect jobs and support the economy.

“We’re a trusted brand in New Zealand, Kiwis know who we are,” he said. Walbridge expressed concerns that the licenses might go to the highest bidders, who are often large offshore companies with substantial financial backing. He stressed the need for the government to consider the benefits of having New Zealand-licensed operators.

Focus on Host Responsibility

Walbridge highlighted that local firms are better positioned to protect New Zealanders, particularly in terms of host responsibility and anti-money laundering rules.

He welcomed the government’s decision to limit the number of licenses to 15, suggesting that fewer licenses would reduce competitive marketing and advertising pressures. “None of us want to wake up and see gambling ads on every device we log on to,” he added.

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Long-Term Benefits for New Zealand

Brett Anderson, chief executive of Christchurch Casino, echoed these sentiments, stating that the current plan does not fully consider the long-term benefits to New Zealand. He pointed out that local casinos, while profit-driven, have employees who work within the community.

“The larger [the] number of entities we have, the more challenging it is to ensure we are minimising harm,” Anderson said. He also noted that New Zealand-based operations would have a “door to knock on” for regulators, ensuring better compliance and social responsibility.

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About William Johnson 345 Articles
Demystifying the world of finance is my mission. As a finance news writer with 7 years of experience, I've covered everything from breaking market news to in-depth analysis of industry trends. I'm here to keep you informed and empowered in your financial journey.

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