SkyCity will get more pokies and cashless gambling in return for building the convention centre that it always wanted to build. (…excuse me, I’m just trying not to puke watching Len Brown on Breakfast as he shrugs off the problem gambling increase from this deal…) The convention centre will be a white elephant. The 800 jobs claim is bullshit – larger convention centres in Aussie employ a fraction of that number.
National has shown that the law is for sale, it can be changed at a whim. Well, it can be changed back, too. SkyCity should know that what’s done can be undone.
SkyCity might find all kinds of regulatory changes imposed on it that will see it wishing it had never poked its nose into the political sphere and cut a dirty deal.
Ah, but they thought of that, eh? There’s a compensation clause in the deal between SkyCity and the Government. Well, that’s the thing about laws, they can over-write dodgy compensation clauses, too. Why would a future Green-Labour Government pay out taxpayers’ money to a gambling company in ‘compensation’ for overwriting a deal that they opposed?
SkyCity should be aware that its cut a deal with National, not with future NZ governments for all time.
I wouldn’t be buying shares in SkyCity just yet.
Update: Anyone buying in to the Nats’ “Labour did it too” line should read Russell Brown’s demolition of that lie