While $350 million is a lot of money for one company to spend on the construction of a new convention centre, Sky City does not seem very worried at all. While it seemed liked the casino operator was getting the short end of the deal by offering to build the new centre, Sky City will actually benefit the most from the deal.
Goldman Sachs has recently conducted a report outlining the exact cost of the new poker machines in Sky City Auckland. According to the company’s calculations, the machines will bring in at least $143 000 each year, providing an overall profit of $350 million by 2017. It will only take Sky City 5 years to pay off the cost of the new convention centre, so the deal certainly works out in the casino’s favour.
Unfortunately, the general public is not as pleased about the news. Most citizens are worried that the deal will make Auckland look as though it is obsessed with money, rather than caring about the well-being of its citizens. However, city councillors do not seem overly concerned with this image perception and are very dedicated to the deal with Sky City.
