Sky City profits high:no need to subsidise conference centre

green-party

Wed Feb 15 2012 13:00:00 GMT+1300 (New Zealand Daylight Time)

Sky City profits high:no need to subsidise conference centre

Wednesday, 15 February 2012, 12:59 pm
Press Release: Green Party

Sky City profits sky high: no need to subsidise conference centre

Sky City’s record profits released today highlight how unnecessary it is for the Government to change legislation in exchange for a new convention centre, says the Green Party.

Green Party gambling spokesperson Denise Roche questioned why such a profitable company was relying on a “Government hand out”.

“It’s outrageous that the Government is prepared to increase the legal number of pokies and gambling tables just so a corporate winner will build a place for people to have conferences,” said Ms Roche

"The business case for a new convention centre should stand on its own and not require the Government to subsidise a private company making record profits at great social cost to the community.

“The Government and Sky City Casino are capitalising on other’s vulnerabilities. Their plan puts thousands of Aucklanders at greater risk of suffering from gambling problems just so they can get a building built.

“It’s morally bankrupt.”

The Green Party opposes the Government’s proposed deal with Sky City to expand its gambling operations in Auckland.

“We want to see the Government implementing practical measures to reduce gambling harm. We need to reduce, not increase, the harmful impacts of gambling,” Ms Roche said.

In exchange for Sky City building a conference centre in central Auckland, the Government is understood to be considering allowing the casino to increase its legal number of gambling tables and pokie machines.

Sky City this morning publicised record profit for the six months leading up to December 31. The Gambling giant’s net profit after tax was up 17 percent.

ENDS

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