SkyCity Entertainment and Prime Minister John Key have entered into a game of high-stakes poker over the ''missing'' millions to pay for the controversial New Zealand International Convention Centre.
By the end of the month, Skycity's plans for the huge new centre in Auckland's heart are due to get final approval from the Government, although it is still awaiting Auckland Council's decision on its resource consent, lodged weeks ago.
Skycity and the Crown have extended the date for formally approving preliminary design, the company said when releasing its interim profit result yesterday.
The company also says it is committed to achieving a solution which preserves value for shareholders.
And there is the problem for Skycity, and Mr Key. While retaining and preserving value for shareholders, the casino operator wants taxpayers to stump up between about $70 million and $130 million, depending on the level of future construction cost inflation.
Mr Key has not ruled out using taxpayer cash to fund budget over-runs during the construction, and on that indication alone, the company's share price rose.
Mr Key questioned the wisdom of insisting Skycity stick rigidly to its $402 million budget for constructing the international convention centre.
He says he is keen to see the best convention centre possible for Auckland, because it is a long-term asset.
He does not want to see some sort of ''eyesore'' constructed downtown.
Opposition MPs are indignant that a so-called deal between Economic Development Minister Steven Joyce and Skycity has come to this - arguing over aesthetics.
The Taxpayers Union has condemned the Government for even considering extra taxpayer funds being used on the centre.
Stepping back, it must be acknowledged Mr Key has already hinted $10 million may be available from the Government for a convention centre in Queenstown and the Government is contributing $284 million for the Christchurch Convention Centre as part of its ongoing rebuild commitment.
Dunedin received some help to build the Forsyth Barr Stadium.
However, there are projects in the South which have not been funded - to the detriment of the city - such as the research facility at Invermay.
New Zealand lacks an international convention centre and there is no doubt having a large international facility in Auckland would bring more international visitors to this country.
Whether Mr Key can reconcile spending $100 million of taxpayers money in Auckland can only be awaited by the electorate.
Skycity has indicated it may walk away from the deal, which some on both sides of the political spectrum see as preferable to pouring in more public money.
Back in May 2013, when the Skycity convention centre was announced, the Government promised a national convention centre suitable for between 3500 and 5000 attendees, in return for allowing Skycity to have more pokies and tables.
Skycity wanted to secure its licences through to 2048 and the deal was one way of doing it.
Throughout the 2014 election, Mr Key told New Zealanders they were getting a ''free'' convention centre.
The deal was done, the ink was apparently dry. Skycity got the law change it wanted.
Green Party co-leader Metiria Turei warns Mr Key to know when to ''fold 'em and walk away'' from a deal she has always opposed.
She claims Mr Key has caved in, to a hand Skycity has yet to even put on the table.
Mr Key's long game may well be that he is prepared to put more money on the table and gamble New Zealanders will forget his largesse by the next election, in 2017.
With cost blow-outs and time delays almost assured on a project this size, sinking any further taxpayer money into this project is surely inappropriate at this time.
At the very least, if further such funds are made available, they must include strict conditions and the opportunity to claw back the money at an appropriate time in the future.
