Savills has successfully advised Australian hospitality and property group Iris Capital on its acquisition of Christchurch Casino from Skyline Enterprises in a transaction valued at more than NZ$100 million.
The purchase marks Iris Capital’s first investment into the New Zealand market, adding the Christchurch Casino to its expansive Australian hospitality portfolio which includes Canberra Casino. The acquisition also transfers Christchurch Casinos Ltd 33% stake in Dunedin Casino, giving Iris Capital an indirect interest in a second New Zealand gaming license.
Established in 1994, Christchurch Casino was the first casino to open in New Zealand and remains a prominent hospitality and entertainment destination in Christchurch.
The transaction was led by Savills' Australian and New Zealand teams, with Ryan Geddes, Nicholas Lower, Martin Hebler, Max Cooper and Norman Engel advising on the acquisition. The deal highlights the strength of the firm's integrated trans-Tasman capital markets platform and its ability to support cross-border investment across the region.
The multi-million dollar transaction is one of the first high profile foreign investments finalised following the introduction of new legislative measures in March 2026 under the Overseas Investment (National Interest Test and Other Matters) Amendment Act 2025. The policy reforms are designed to modernise approval workflows and streamline the path for international capital.
Ryan Geddes, Managing Director of Savills New Zealand, further noted the deal signals strong international confidence in New Zealand’s commercial assets.
“A transaction of this scale puts New Zealand’s hospitality and commercial sectors firmly in the spotlight for trans-Tasman investors,” said Geddes. “The strength of our advisory approach came from combining local New Zealand market intelligence with our Australian team's long-standing relationship with the purchaser, and it’s that combination that turned the initial opportunity into a successful transaction.”
Nicholas Lower, Managing Director, Hotel Capital Markets and Co-Head, Hotels & Hospitality, Australia & New Zealand at Savills, said “Having previously advised on the sale of Canberra Casino to Iris Capital, supporting the group on its first New Zealand acquisition was particularly rewarding.”
“Our depth of experience across several casino transactions highlights the importance of matching the right buyer with the right opportunity. Christchurch Casino is a landmark asset with a strong market position and long operating history, making it a compelling opportunity for an established Australian operator. The transaction highlights the continued appeal of high-quality New Zealand hospitality assets to Australian capital.”
For further information contact:
Holly Fraser
E:Holly.Fraser@oneplusone.co.nz
021 085 53124