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Sky City to Buy MGM Casino

11 Feb 2004

AUSTRALIA – As reported by the (New Zealand) One News: "SkyCity has signed a contract to buy Darwin's sole licensed casino for $220 million (US$172.89 million).

"The deal will be fully funded by SkyCity's existing lending syndicate and remains subject to approval by the Australian Foreign Investment Review Board .

"…SkyCity has been keen to make acquisitions and confirmed in January that it was in discussions with the owners of the MGM Grand Darwin in Australia's Northern Territory.

"…It says the property will add scale to the group's operations, especially in Australia…"

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