Shares in Sky City Entertainment Group rose by more than 1.5% after it was named as the preferred bidder for a national convention centre in Auckland.
The casino operator will pay the estimated cost of $350 million, in return for an extension to its license beyond 2021 and being allowed to add more gambling tables and machines.
Sky City shares rose 6 cents to $3.52 on Monday.
Hamilton Hinden Greene director Grant Williamson says investors think the deal appears good all round.