Sky City has bought the Wharf casino in Queenstown. The purchase is subject to regulatory approval by the Commerce Commission and the Gambling Commission.
Sky City already owns another casino in Queenstown and is in a consortium which is the preferred group to build a convention centre there.
Chief executive Nigel Morrison said purchasing the casino is part of a strategy of increasing its presence in Queenstown, which is an area of significant potential for tourist development.
The purchase price has not been disclosed.