Sky City Seeks Casino Clearance

19 Apr 2004

NEW ZEALAND – As reported by the New Zealand Herald: "Sky City Entertainment has taken another step towards buying 40.5 per cent of Christchurch Casinos, after lodging an application seeking Commerce Commission clearance for the $93.75 million deal.

"The company said earlier this month it had reached an agreement to buy Aspinall's 40.5 per cent stake in Christchurch Casinos, which owns and operates the city landmark.

"…The company has put other wheels in motion, with the OIC confirming that the application process had started with Sky City gathering information it would need for its submission.

"…It says the acquisition of a stake in the Christchurch Casino is a natural step for it to take in growing its business.

"It also claims competition would be greater from overseas casinos than from others here because there were more of them and they offered more tables with higher limits…"

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	Sky City Seeks Casino Clearance 19 Apr 2004 NEW ZEALAND – As reported by the New Zealand Herald: "Sky City Entertainment has taken another step towards buying 40.5 per cent of Christchurch Casinos, after lodging an application seeking Commerce Commission clearance for the $93.75 million deal. "The company said earlier this month it had reached an agreement to buy Aspinall's 40.5 per cent stake in Christchurch Casinos, which owns and operates the city landmark. "…The company has put other wheels in motion, with the OIC confirming that the application process had started with Sky City gathering information it would need for its submission. "…It says the acquisition of a stake in the Christchurch Casino is a natural step for it to take in growing its business. "It also claims competition would be greater from overseas casinos than from others here because there were more of them and they offered more tables with higher limits…"