21/06/2004

SKYCITY Gains All Necessary Approvals For Interest In Christchurch Casino

SKYCITY Entertainment Group advises that all conditions have now been met for its proposed acquisition of Aspinall (NZ) Limited which in turn owns a 40.5% shareholding in Christchurch Casino.

The Casino Control Authority gave licencing approval to SKYCITY today, which follows the Commerce Commission's and the Overseas Investment Commission's approvals for the purchase of the 40.5% minority shareholding in Christchurch Casino.

SKYCITY Entertainment Group Managing Director, Evan Davies, said that SKYCITY would, now that all necessary approvals had been granted, complete the acquisition which was announced earlier this year.

“SKYCITY is looking forward to being involved with the Christchurch Casino operation, and we anticipate that the acquisition will be completed within the next 2-3 weeks.”

ENDS

For further information please contact:
Jodine Laing, Communications Executive
Phone: +64 9 363 6334
Fax: +64 936 6323
Mobile: +64 (0)21 609 120
E-mail: jodine.laing@skycity.co.nz