Following the latest casino news, the NZ Gambling Commission has reviewed the charitable trust license conditions of six leading land-based casinos in New Zealand recently. Among the casinos were gambling houses operating in Auckland, Hamilton, Dunedin, Queenstown, and Christchurch. The essential idea of the review was a need to see whether these conditions should be amended or not.
Every gambling establishment has certain obligations following the rules of the regulatory institutions. Therefore, casinos must provide a certain level of funding to their charitable trust.
How Much Money Do Casinos Give Away to Charity?
Authority institutions regulate casinos’ activities in New Zealand. Thus, the charitable trust license conditions are different depending on the casinos and their licenses and have not been changed for a long time.
In the frames of its 15-year agreement, Christchurch Casino was obligated to pay 2.5% of its annual revenue, or $250,000.00.
Dunedin Casino annually paid a fixed sum of $52,000.00 and, additionally, 1% of slot machines turnover.
Auckland’s SkyCity had to give away 0.7%, or a minimum sum of $500,000.00, to the charitable trust.
SkyCity in Hamilton made a contribution of 1.5% of its revenue.
Queenstown’s SkyCity gave 2.5% of the revenue or $100,000.00 per year.
Wharf Casino contributed 20% of the net worth, and this number had been increasing by 1% each year until it reached 30%.
Andree Froude, a spokeswoman at Problem Gambling Foundation, was confused why the Gambling Commission had started to review these conditions. But the Gambling Commission declined to respond to this question.
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