NZ iGaming Stocks Overview
Entertainment and fun are some of the attractions in New Zealand. This is complemented by a wide range of NZ casino websites and entertainment centres also available. Of the many entertainments in the country, gambling enjoys a popular role as four in five new Zealanders are said to involve in the activity seen as both recreational and as a business
As New Zealanders are estimated to spend $160 million on online gaming, Some companies in the industry have expanded their services to accommodate the demand for iGaming.
SkyCity Entertainment Group
The SkyCity Entertainment Group is a gaming cum entertainment hub and based in New Zealand, but serves customers not only in that country but Australia also. With its headquarters sitting at Auckland, New Zealand, the entertainment company takes a prominent role among big names in the wager industry. Although renowned for its services and portfolio in the gaming industry comprising casino, poker, among others, the company is heavyweight in the entertainment industry boasting of a large number of restaurants, bars and hotels across various locations.
Industry regulations, especially the Gambling Act of 2003 declares all forms of gambling as illegal unless exempted. Furthermore, there are no Zealand based online casinos and only state-owned Lotteries are the only forms of gaming offered online within New Zealand, however many New Zealanders freely participate in online casinos provided by offshore operators. However, it is not an infraction under the to play online casinos if the operator provider is situated abroad, and on this ground, a lot of New Zealanders play online gambling provided by foreign companies.
Considering legal provisions and regulations, SkyCity in 2019, agreed on a partnership with a Malta-based international iGaming company, Gaming Innovation Group Inc (GiG) to offer New Zealanders an online casino gaming platform, using GIG’s online gambling license. The company’s online casino is a platform for games such as progressive jackpots, bingo, poker, etc.
The partnership has so far proved to be a sound business decision, as In July,. SkyCity in its yearly financial report ending on June 30, 2020, announced a 36.8 % increase in revenue, while its net profit spiralled upwards by 62.8%.
Gateway Casinos and Entertainment
Gateway Casinos and Entertainment Limited – GCEL – is one of the biggest gaming companies in Canada, and the largest in the Western part of that country, operating 23 brick and mortar casinos in British Columbia, Alberta, and Ontario. Gateway Casinos is established in its country of origin with the venue ranked 1st among the highest compared to competitors.
The company has however diversified and expanded to various parts of the world including New Zealand without having compromised its valued service. A move prompted by the potentials promised by the New Zealand peerless growing industry.
The company affirmed its readiness to embrace gaming demands with its partnership with Passport Technology. An agreement that will see the company get supported with premium innovation from Passport Technology in the gaming industry going through fast transformation with demand cashless gaming. This may be a catalyst for the company assuming a more competitive role in the New Zealand brimming iGaming industry.
The company’s eminent position in the industry goes to no issue, due to its financial standing. Having been hit hard by lockdowns, its past revenue was to thank for in being granted the “large employer emergency financing facility” (LEEF) by the Canadian government, a loan grant provided to companies with revenue of $300 million and upward.
Crown Melbourne Limited
The company with its major location sitting at the south bank of the Yarra River, in Melbourne, Australia offers something to everyone from remarkable entertainment centers, international online shopping, cinemas, world-class restaurants to modern casinos.
Renowned as the largest casino in the southern hemisphere, it offers innovative roulette, poker games, and even less common and novel games like Blackjack Supernova, Mississippi Stud, and Triple Chase only found in few other places in the world.
As New Zealand online gambling market is one of the most popular in the world, the company with presence in Australia and New Zealand, offers the aforementioned games, as well as sports betting, online, not only to customers in Australia, but to New Zealanders, and around the globe.
Testamentary of its position in the industry, Crown Resorts managed to post a gain during the 2020 year, in which Commercial activities were stunted by the pandemic.