As reported by: The Age
New Zealand's only independent casino operator fears he could be forced out of business if Sky City Entertainment gets a cornerstone shareholding in Christchurch Casinos Ltd (CCL).

Mike Stone, a joint owner of the Wharf Casino in Queenstown, is supporting embattled CCL chairman Barry Thomas to help resist the South Island raid by Sky City.

He said he was acting out of self-preservation.

"If they throw $4 million or $5 million at their Queenstown operation, they could put me out of business," he said when approached.

Mr Stone met Mr Thomas on Monday morning to discuss the issue.

Sky City has announced its intention to buy Aspinall (NZ) Ltd's 40.5 per cent stake in CCL, a move fiercely resisted by Mr Thomas' Skyline Enterprises, which also owns 40.5 per cent.

The Commerce Commission is still to consider Sky City's application which, if it succeeds, means Sky City will have a stake in five of the country's six casinos, including one of the two in Queenstown.

It is a prospect that makes Mr Stone nervous.

Queenstown was the only centre with two casinos and Mr Stone said the competition was cutting into profits.

"It makes sense to only have one casino in Queenstown," he said.

Wharf Casino was small-time compared to an enlarged Sky City operation and he feared he could be pushed out.

If it gained control of CCL, Sky City could also dominate the high-roller market, luring the South Island's big gamblers to Auckland and starve his establishment.

"I view it as very anti-competitive," he said.

He believed Sky City would seek majority control of CCL.

A Sky City spokeswoman said it was too early and inappropriate for the company to speculate on whether it would buy out another shareholder.