Charitable Trusts to Launch iGaming Brand in New Zealand
Three charitable trusts in New Zealand, NZ Community Trust, The Lion Foundation, and Aotearoa Gaming Trust, have joined forces to establish an online casino joint venture.
The venture will provide New Zealand residents with online casino gaming under the Kiwi's Treasure brand.
LISTEN TO THIS ARTICLE:Named Community Online Gambling Holdings Limited, the venture has entered into an agreement with Super Group to launch a premium online casino experience under the Kiwi's Treasure brand in New Zealand. Super Group will operate the new 'Kiwistreasure" online casino under an Alderney casino license via a .com URL.
As New Zealand's gaming landscape shifts towards online platforms, COGHL aims to secure a share of the growing online casino market. The venture's proceeds will support funding for vital community sectors nationwide, including sports, arts, culture, health, education, and community development.
The three charitable trusts are delighted that this joint venture has been formed. As not-for-profit community funders and trusted operators in the Class 4 gaming sector, we want to protect the long-term sustainability of our model by diversifying our opportunities to generate funding. The online casino market is one such opportunity. Currently, there is very limited benefit to New Zealand communities from the online market.
With this initiative, the trusts aim to safeguard and generate additional revenue to maintain their essential contributions to various community organizations across New Zealand.
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This development comes as the government prepares to implement online casino regulations in the region by 2026. Ministers have started the process by launching a public consultation to gather feedback and inform a three-year strategy to reduce gambling-related harm.
COHL and Super Group have announced their support for the government's plans to introduce a regulatory regime for online casinos. The venture will apply for a license once online casinos are regulated in the country.
The two entities have also stated that the 'Kiwi's Treasure' online casino will offer responsible gambling features to reduce customers' risk of gambling-related harm.
COGHL's operations will be independent of the three charitable trusts' existing Class 4 gaming activities. The new initiative will not receive funding from Class 4 gaming.
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