By SectorWire desk ·
The report said that SkyCity SKC · NZD 0.68 2026-10-16 Data reached preliminary, non-binding terms for a sale of Auckland’s Grand Hotel. The proposed disposal forms part of the casino operator’s asset monetisation programme.
The proposed sale would advance SkyCity’s asset disposal programme if completed.
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The conditional hotel sale would provide debt-reduction proceeds while SkyCity temporarily continues operating the property.
Eleven selected operators can apply for New Zealand’s 15 available online casino licences following the auction.
SkyCity, Entain and Stake can advance to online casino licence applications in New Zealand.
Betway, Stake, Entain and SkyCity can apply for online casino licences after advancing through New Zealand’s first competitive stage.
Operators holding application rights must still complete regulatory assessment before they can receive a licence to operate in New Zealand.
Eleven brands can apply for 15 New Zealand online gambling licences, with Betway holding the most application rights.