Len Brown has backed the SkyCity deal which will deliver a Convention Centre to Auckland at no cost to the ratepayers or taxpayers.
Auckland mayor Len Brown supports the convention centre at the heart of a contentious deal between the National Party and SkyCity Entertainment Group – a facility the council’s own research shows would be “break-even” at best.
Under the SkyCity proposal, the casino and hotel operator would pay the full $350 million construction costs for a centre capable of holding 3500 seated delegates or 4500 in an exhibition format.
The payback for SkyCity would be changes to gambling regulations that would allow it to install more gaming machines.
Brokerage Goldman Sachs last month estimated SkyCity would need 350 to 500 extra machines to profit from the deal, generating as much as $46m of revenue in the first full year of operation.
Labour is clearly opposed to any deal where private enterprise picks up the tag, oppsed to any deal that provides 1000 construction jobs and opposed to 350 permanent jobs.
Before we listen to what Labour has to say about this deal let them firstly pay back the dirty money they got in donations, then let them explain how they would fund a $350 million Convention Centre.