October 5

In New Zealand, it was being reported in the local news today that Sky City Entertainment Group, New Zealand's biggest and most well-known casino company, revealed that it would bid for Taverner Hotel Group. The hotel group is being valued at about $228 million US.

The main issue with Sky City is that over 60% of the revenue generated by the company is from gaming, mostly slots.

Taverner, the Melbourne, Australia based hotel company holds ownership on thirty-three hotels and has casinos and nightclubs in them. Sky believes that the purchase of Taverner will coexist nicely with its existing form of operations.

Over a month ago, the entertainment group reported that second-half revenue growth had ebbed because of new rules in New Zealand that include a smoking ban in casinos and restrictions on currency monies used in slot machines there.

New non-smoking laws put into place along with currency issues with the slot machines have become a major deterrent on slot machine gambling in the nation.