How many more pokie machines?

Posted by admin 
How many more pokie machines?
April 18, 2012 10:31AM
It is planned to launch this contract at noon today. Comments are welcome on any possibilities we have missed:

SKY.DEAL.POKIES

Short Description:
How many new pokies will SKYCITY be allowed (as a percentage of 500)?

Long Description:
This contract will pay 10c for every 50 extra pokie machines SKYCITY is allowed at its Auckland casino as part of a deal with the New Zealand Government over the construction of a National Convention Centre. The payout is capped at $1 (for 500 or more pokie machines). PLEASE READ THE JUDGING CRITERIA.

Judging Criteria:
The contract concerns the outcome of negotiations between the New Zealand Government and SKYCITY announced by the Prime Minister on 12 June 2011 (see [beehive.govt.nz]) and not to any other initiative on gambling legislation or regulation.
The purpose of this contract is to forecast the maximum number of pokie machines that SKYCITY will be allowed to have as a result of any new legislation and/or regulations negotiated with the New Zealand Government, over and above those allowed by existing legislation and/or regulations.
It will pay in New Zealand cents to one decimal place. That is, if SKYCITY is allowed 387 new pokie machines, the contract shall close at 77.4c.
The contract will be closed following an announcement of a deal that meets the tests outlined in iPredict’s contracts at [www.ipredict.co.nz] . It does not matter whether or not legislation and/or regulations are subsequently amended or whether or not SKYCITY decides to proceed with installing all or any of the new pokie machines.
If the deal between the New Zealand Government and SKYCITY provides for legislation and/or regulations which see a progressive increase or decrease of the number of pokie machines SKYCITY is allowed to have at its Auckland casino, the contract’s closure price will be based on the HIGHEST number of pokie machines SKYCITY will ever be allowed under the deal.
If it is not clear from the announcement the price at which this contract should close, iPredict will make inquiries of relevant authorities such as but not limited to SKYCITY, the New Zealand Government, the Regulations Review Committee of the New Zealand House of Representatives, the Department of Internal Affairs or other government departments. Traders should note that it is possible this process may require the use of formal mechanisms including but not limited to the Official Information Act and this may cause a significant delay in closing the contract. Such information will be provided to traders for comment before iPredict makes a judgment on the closure price.
If, despite these efforts, iPredict is unable to determine in good faith an appropriate closure price within one year from the date of an announcement that meets the terms of the contracts at [www.ipredict.co.nz] this contract shall be closed at 85c which is the midpoint between the opening positions of the two parties reported by 3News at [www.3news.co.nz] and represents 425 extra pokie machines.
If there is no outcome to the negotiations by 1 January 2014, or if the Prime Minister announces definitively and finally that no deal will be done with SKYCITY, the contract will close immediately at $0.
iPredict’s judgment shall be final.
All dates and times are New Zealand time.
Re: How many more pokie machines?
April 18, 2012 10:58AM
Looks good.
Re: How many more pokie machines?
April 18, 2012 11:15AM
For some reason the idea of iPredict using the OIA to close a contract pleases me.
Re: How many more pokie machines?
April 18, 2012 11:19AM
It does not please admin. But it will be used if necessary on this one.
Re: How many more pokie machines?
April 18, 2012 11:51AM
I would've thought the terms of the casino license would have to be a matter of public record. I doubt OIA will be required and if it was, the media and opposition would be asking too.
Re: How many more pokie machines?
April 18, 2012 12:00PM
We certainly hope so!
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