SkyCity wins rights to apply for two online casino licences
SkyCity Entertainment Group has announced it is a successful participant in the auction for the allocation of the rights to apply for online casino gambling licences under the Online Casino Gambling Act 2026.
The company was successful for the right to apply for two licences, with a licence fee payable of NZ$15 million (excluding GST) per licence.
SkyCity will now proceed with the application process ahead of next year’s market opening. The announcement was dated 13 October 2026, and it does not disclose a specific opening date.
The auction secured the right to apply for licences. The announcement does not state that licences have been granted or issued.
For investors, the result marks SkyCity’s formal entry point into the newly regulated New Zealand online casino gambling market, and the licence fee per licence is now defined.
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What the auction result means for investors
The cost of entry
The table below summarises the key facts disclosed in the announcement.
| Item | Detail |
|---|---|
| Rights secured | Right to apply for two licences |
| Fee per licence | NZ$15 million |
| Fee basis | Excluding GST |
| Next step | Application process |
| Market opening | Next year |
The announcement does not say when or how the fees are payable or funded.
The licence fees arrive after SkyCity’s FY26 EBITDA downgrade, which cut underlying guidance to $180-190 million and noted that online casino licensing is not expected to generate revenue until late FY27 at the earliest.
Why the SkyCity brand matters
SkyCity’s Chief Executive Officer, Jason Walbridge, said the company is “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.”
Jason Walbridge, Chief Executive Officer
“…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.”
The stated approach leans on brand trust and local market knowledge as the foundations for its online business.
Understanding New Zealand’s online casino licensing model
The Online Casino Gambling Act 2026 is the legislation under which the auction took place. Successful participants in the auction gain the right to apply for online casino gambling licences, rather than the licences themselves.
The sequence outlined in the announcement runs as follows:
- Auction for the rights to apply (completed)
- Licence application process (next)
- Market opening (next year)
A licensed regime sets the terms of competition and defines the cost to participate. The announcement does not detail the total number of licences, other bidders, licence conditions or duration.
What comes next for SkyCity
SkyCity will now proceed with the application process ahead of next year’s market opening. Key points from the announcement:
- Right to apply for two licences secured
- Licence fee of NZ$15 million (excluding GST) per licence
- Application process to proceed
- Market opening expected next year
The announcement does not address revenue forecasts, financial impact, funding, launch timeline, product details or the outcome of the applications.
SkyCity has secured its position in the auction and now moves to the application stage. The result of those applications will be the next development for investors to watch.
For readers wanting to see how SkyCity is funding its balance sheet while it pursues online growth, our detailed coverage of the Grand Hotel sale explains the non-binding heads of agreement and the plan to direct all proceeds to debt repayment.
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