Casino operator Sky City has been chosen to build the country's first international-scale convention centre in downtown Auckland.
Sky City's proposal for a 3500 seat centre has been chosen by the Government ahead of four other competing bids around the city.
The company will fund the full $350 million cost, but only if the Government relaxes regulations on its present gaming operation.
Prime Minister John Key says the facility will attract high-value delegates who generally spend twice as much as tourists, boosting the country's economy by $90 million a year.
Mr Key says the Government will negotiate with Sky City over lifting the number of gaming tables and machines in the Auckland casino, before the deal is finalised.
Auckland mayor Len Brown says
the proposal will create 800 extra employment positions, with 1000 positions on site during the course of building.
