What do I need to renew a casino license in New Zealand?

You can download this article in PDF format via the link below to support us.
Download the guide in PDF formatturn off

If you only extract some facts from this article. Then they are here!

  • The New Zealand Department of Interior (DIA) is an independent agency with only one goal in gambling. The purpose of this is to establish a positive view and change the negative name of the world.
  • New Zealand casinos must obtain a license before they can start operations in New Zealand. For this, some prerequisites must be met.
  • Then, after 15 years, if these casinos must continue to operate, they need to renew their licenses. To do this now, it has something to do with any one of these casinos having to meet another set of prerequisites in order to be renewed.
  • Finally, the main part of the prerequisites for these casinos to renew their licenses is proof of their active participation in charitable donations. This is a condition that every casino that requires a license must meet.

Charity is just one of a series of noble actions taken by stakeholders in the gambling industry, especially for New Zealand casinos on CasinoDeps.co.nz. As we mentioned earlier, this is a major requirement. This is because these donations have a profound impact on promoting the country’s good progress and development.

Christchurch Casino License Renewal

The Christchurch Casino is a good case study that illustrates the importance of the process by the state agency responsible for enforcing this commandment. The Gambling Commission has determined that if its license must be renewed, the Christchurch Casino will pay a certain amount to the charity.

This casino created the large-scale casino operator network all over the country today. Since 1993, they are the first casino to receive a 25-year license. Therefore, this casino is the first casino that also has its renewal license. The Gambling Commission’s instructions for this casino will set similar conditions for other casinos.

Now, this new licensing guide has lasted for 15 years, so, Christchurch Casino must pay Not less than 2.5% of the casino’s annual revenue (net profit) or the sum of USD 250,000 (depending on the larger amount), subject to its charitable trust fund.

In addition to the agreed percentage payment, the casino has another agreement to donate $100,000 annually to any charity or organizations it likes. Any organization that will receive this payment must not have anything to do with gambling.

According to reports from reliable sources, the casino received $16.1 million in operating revenue in 2017. Of the proceeds, 2.5% is US$402,500, which is expected to be paid to their charitable trust.

Donate money to charity

As a result of the committee’s move at the Christchurch Casino, it similarly requires other New Zealand casinos to make charitable donations between 1% and 2.5%. For example, SkyCity in Oakland is a larger casino organization that specifies a minimum payment of $500,000, while the minimum payment in Queenstown is $100,000.

In order to prove the rationality of the directive, the Gambling Commission is obliged to determine the social and economic uses of the issuance or withholding of the permit, as well as the degree of support for this in the community.

Many reports have been made.The main part of its highlights is social and entertainment, including gambling and shopping in nearby bars, promotions and Charitable donation.

However, a report by the Christchurch Casino asserts that the delay in renewing its license will cause 30% to 50% of bettors to switch to auxiliary and less managed gambling platforms.

The casino’s net economic benefits include 104 full-time equal jobs. The casino provides services for 478 people, “an additional $23 million in added value”, and an additional $6 million in accumulated family income each year.

From a national perspective, casinos are reported to be the main driving force for the growth of disposable gross national income, increasing from 70 million U.S. dollars to 140 million U.S. dollars per year, and repatriating about 18 million U.S. dollars in direct taxes, although offsetting Partly because of the sacrifice of taxes on companies that spend money on casinos.

As in the case of the Christchurch Casino, other casinos must list a total of 15 people who have identifiable influence in matters related to the casino, and a police report confirms this, namely Bankruptcy and trustee services to prove its establishment. There is an office and a registry in the General Affairs Department, which must always be available.

The response from the Gambling Commission to follow this direction only slightly exceeded approval or disapproval. What remains to be seen is what will happen in the next few years.

You can download this article in PDF format via the link below to support us.
Download the guide in PDF formatturn off

Sidebar