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SkyCitys bet on offshore online gambling lays bare the crapness of NZs law

That’s despite legislation which on the face of it prohibits New Zealand forays into online gambling. But New Zealand’s casino giant appears to have found a workaround.  The Gambling Act, which reads largely as a harm-reduction manifesto, is essentially toothless when it comes to regulating offshore operators, as Internal Affairs minister Tracey Martin told The Spinoff  recently. Thus success for SkyCity in the online arena depends on either the law being changed law or finding a way under the existing rules to take on the competition. And judging by comments yesterday from Chief executive Graeme Stephens, SkyCity is opting for option two. “You’ve got to be pretty globally competent, if you are going into the online space, and we don’t have any of that competence today, so if we were going to do anything, I’m pretty confident it would have to be with a partner at least to start with,” he told Stuff . Notably, because offshore operators are outside of government jurisdiction, they are free to employ all manner of aggressive sales tactics, manipulative deposit incentives and near-ludicrous fund management terms – as detailed the Spinoff’s story on Jackpot City .

For the original version including any supplementary images or video, visit https://thespinoff.co.nz/society/10-08-2018/skycitys-bet-on-offshore-online-gambling-lays-bare-the-crapness-of-nzs-law/

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