SKYCITY Entertainment Group has won the contract from the New Zealand government to design, build and operate the NZ International Convention Centre.
Skycity will commit $315 million to build and fit-out the NZICC, in addition to contributing the 14,000 sqm Auckland CBD site, which is valued at $87 million.
In return, the government will extend the Auckland Casino Venue Licence for 35 years to 2048 and has agreed to a package of regulatory reforms.
The $315 million development includes public convention and exhibition space capable of accommodating 3,500 convention delegates and at least 780 car park spaces.
Skycity CEO Nigel Morrison said this agreement delivers a major piece of tourism infrastructure for NZ that will boost jobs and tourism and drive long term economic growth, without requiring funding from taxpayers or Auckland ratepayers.
“Most importantly, the extension of SKYCITY Auckland’s casino licence for 35 years to 2048 provides the certainty needed to secure continued long term financing, underpinning our core investments in NZ,” he added.
The total completed cost of the NZICC development will be in excess of $400 million.
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