SkyCity Clears Regulatory Hurdle

18 May 2004

NEW ZEALAND – As reported by the New Zealand Herald: "The country's dominant casino operator, SkyCity, has cleared the biggest regulatory hurdle in its quest for a sought-after stake in the second largest casino, Christchurch.

"The Commerce Commission yesterday cleared Auckland-based SkyCity Entertainment Group to buy British company Aspinall's 40.5 per cent in Christchurch Casinos.

"Once the $93.75 million deal is finalised, SkyCity will own or have a stake in five of the country's six casinos.

"…The chairman of Christchurch Casinos, Barry Thomas, has fought an acrimonious public battle to keep SkyCity out of Christchurch, arguing the near monopoly that would be created would not be good for the Christchurch business.

"…Commerce Commission chairman Paula Rebstock said the commission was satisfied SkyCity's acquisition would not substantially lessen competition in the Auckland, Christchurch and Dunedin casino entertainment markets…"

Language: Any Language Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue
	SkyCity Clears Regulatory Hurdle 18 May 2004 NEW ZEALAND – As reported by the New Zealand Herald: "The country's dominant casino operator, SkyCity, has cleared the biggest regulatory hurdle in its quest for a sought-after stake in the second largest casino, Christchurch. "The Commerce Commission yesterday cleared Auckland-based SkyCity Entertainment Group to buy British company Aspinall's 40.5 per cent in Christchurch Casinos. "Once the $93.75 million deal is finalised, SkyCity will own or have a stake in five of the country's six casinos. "…The chairman of Christchurch Casinos, Barry Thomas, has fought an acrimonious public battle to keep SkyCity out of Christchurch, arguing the near monopoly that would be created would not be good for the Christchurch business. "…Commerce Commission chairman Paula Rebstock said the commission was satisfied SkyCity's acquisition would not substantially lessen competition in the Auckland, Christchurch and Dunedin casino entertainment markets…"