Government Breaks With Convention With SkyCity Deal

The naming of SkyCity as preferred bidder for a US$287mn international convention centre in Auckland, New Zealand, will see the gaming and entertainment group foot the whole construction bill on the proviso that the government considers preferential changes to the country's gambling regulations. BMI notes that - although the country is running a fiscal deficit - with general elections due later this year, the government is keen to avoid drastic cuts to capital spending. Indeed, as illustrated by the country's successful adoption of the public private partnership (PPP) model, the government has proved its willingness to engage with the private when necessary.

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