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SkyCity revamps Darwin Casino

19 Jan 2007

NEW ZEALAND – As reported by the New Zealand Stuff: "SkyCity Entertainment Group is splashing out on both a revamp of its Darwin Casino and a tropical resort as it counters strict regulations on its New Zealand casinos, which are through their "first flush of growth".

"SkyCity said yesterday it would spend A$30 million (NZ$34 million) refurbishing Darwin Casino.

"The work would be funded from cash reserves and completed by mid-2008.

"The decision came after the casino's licence was extended from 2015 to 2026.

"Chief executive Evan Davies said the Darwin licence was now effectively perpetual. This meant SkyCity could go ahead with redevelopment in an Australian territory that is predicted to achieve economic growth of 6.2 per cent this year.

"…Investors welcomed the Darwin revamp, pushing SkyCity's shares up 6 cents to $5.24 yesterday…"

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