Australian hospitality and property group Iris Capital completed its acquisition of Christchurch Casino from Skyline Enterprises in a transaction valued at more than $100 million, the NZ Herald reported on 15 October 2026. The deal is Iris Capital’s first investment in the New Zealand market and is understood to be one of the first major foreign investments following the introduction of the Overseas Investment Amendment Act.
Deal includes 33% stake in Dunedin Casino
The acquisition also transfers Christchurch Casino Ltd’s 33% stake in Dunedin Casino. The transfer gives Iris Capital an indirect interest in a second New Zealand gaming licence.
Sydney hospitality billionaire Sam Arnaout is the chief executive of Iris Capital. Christchurch Casino on Victoria St opened in 1994 and was the first casino to open in New Zealand. The Press reported on 27 December 2025 that Christchurch Casino had been sold to an Australian purchaser, with the deal completed in October 2026.
Savills led trans-Tasman transaction
The transaction was led by Savills’ Australian and New Zealand teams. Ryan Geddes, managing director of Savills New Zealand, said: “A transaction of this scale puts New Zealand’s hospitality and commercial sectors firmly in the spotlight for trans-Tasman investors.” Details of the sale were reported by the NZ Herald.
Nicholas Lower of Savills, managing director for Hotel Capital Markets and Co-Head, Hotels & Hospitality, Australia & New Zealand, said 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”. He said: “The transaction highlights the continued appeal of high-quality New Zealand hospitality assets to Australian capital.” Further background was published by the Otago Daily Times.