SkyCity Entertainment Group has launched its Malta-based online gambling site, skycitycasino.com. Auckland’s SkyCity casino will be operating the website to offer gambling products to the Kiwis. The website is being managed by the Malta-based Gaming Innovation Group.
“While ultimately a regulated online gaming market remains the preferred solution, the site launch is another step on our journey of pursuing opportunities to grow and diversify our earnings, addressing a new, fast-growing industry which is highly complementary to our land-based activities and offering customers a multi-channel gaming experience,” chief executive Graeme Stephens said in a statement.
SkyCity announced the deal with Gaming Innovation Group (GIG) earlier in May. As the online gambling market is expanding in New Zealand the company aims at the local gamblers amidst stricter regulations prohibiting overseas companies from offering betting products in the domestic markets.
It is estimated that New Zealanders bet around $160 million a year at online casinos operated by overseas companies.
Overseas online gambling operators are restricted in New Zealand. Only Lotto and the TAB are authorized to offer online gambling products in the country.
However, New Zealand’s Department of Internal Affairs is making moves to regulate the online gambling market. It is also considering offering licenses to both local and international operators.
Earlier last week, the New Zealand Department of Internal Affairs, New Zealand’s government agency that is responsible for formulating rules and regulations for the country’s gambling industry, confirmed that it is planning to ban the use of credit cards for online gambling.