Iris Capital completes acquisition of Christchurch Casino

The deal also transfers a 33 per cent stake in Dunedin Casino.

New Zealand.- The Australian hospitality and property group Iris Capital has entered the New Zealand gaming market, acquiring Christchurch Casino from Skyline Enterprises in a deal valued at over NZ$100m (US$56m). It’s one of the first major foreign investments under the country’s updated Overseas Investment Amendment Act.

Opened in Victoria Street in 1994, Christchurch Casino was New Zealand’s first casino. The transaction will transfer Christchurch Casino Ltd’s 33 per cent stake in Dunedin Casino to Iris Capital, which is led by Sam Arnaout.

The real estate company Savills New Zealand has said that the deal was a sign of international confidence in New Zealand commercial assets.

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See also: Pacific Pearl expected to become Papua New Guinea’s first licensed casino