SkyCity's $16m Queenstown play

SkyCity’s made a $16 million Queenstown property play in a bid to house high-rollers.

Key points:

  • SkyCity has received approval to buy the largest undeveloped lakefront block

  • Plans to build a 100-room, five star hotel

  • SkyCity has two Queenstown CBD casinos

SkyCity of New Zealand has made a $16 million Queenstown property play to house high rollers for its casino.

The company received Overseas Investment Office approval to buy the resort’s largest undeveloped lakefront block.

It plans to build a 100 room, five star hotel but didn't comment on whether it will have its own casino.

Local SkyCity boss Jono Browne says an international-class hotel will fill a gap in the market for five-star accommodation - “It’s also an advantage that we’re able to accommodate our own customers – it’s something we can’t do at the moment.”

SkyCity has two Queenstown CBD casinos, one on Beach Street that has a high roller VIP room and a smaller casino called Wharf Casino.

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