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Tabcorp Concentrates on Renewing License

21 Sep 2006

AUSTRALIA – As reported by the Age: "Tabcorp boss Matthew Slatter is not ruling out a takeover bid for New Zealand casino operator Sky City Entertainment, but says the company will concentrate on renewing its Victorian wagering and gaming licence.

"Industry speculation has turned to Sky City as the industry's next acquisition target after shareholders of Queensland wagering company Unitab last week agreed to merge with Victorian gaming and lotteries group Tattersall's. Sky City runs casinos in Queensland, Auckland, Darwin and Adelaide.

"Shares of the usually stable Sky City yesterday jumped 13¢, or 3 per cent, to $4.50 following reports of Mr Slatter's comments to journalists at a Merrill Lynch Australia conference in New York.

"…But some gaming analysts believe any takeover attempt by either Tabcorp or the newly strengthened Tattersall's could be up to 12 months away, with Tattersall's facing a big job in integrating Unitab's wagering operations…"

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