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- Release Date: 28/02/12 14:25
- Summary: GENERAL: SKC: SKYCITY clarifies its position in relation to Echo
- Price Sensitive: No
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SKC
28/02/2012 12:25
GENERAL
REL: 1225 HRS Sky City Entertainment Group Limited (NS)
GENERAL: SKC: SKYCITY clarifies its position in relation to Echo
Following recent speculation about corporate activity in Echo Entertainment
Group Limited ("Echo") and any interest SKYCITY Entertainment Group may have
in such activity, SKYCITY makes the following statement.
Nigel Morrison, CEO of SKYCITY says "SKYCITY is not aware of any of Echo's
material assets being for sale. Shareholders should be assured that SKYCITY
would not consider any involvement in corporate activity or asset purchases,
unless it represented compelling value to SKYCITY shareholders.
"Right now, we are totally focused on continuing to deliver shareholder value
through our core businesses in New Zealand and Australia. As presented in our
recent 2012 half year results, our existing markets demonstrate good growth
and potential to continue to deliver solid returns to our shareholders.
"Our potential investments in the development of New Zealand's International
Convention Centre in Auckland and the re-development opportunity at our
Adelaide Casino in South Australia are the core focus of our management team.
End CA:00220104 For:SKC Type:GENERAL Time:2012-02-28 12:25:47
