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Analysts: New Zealand 's Sky City's Position is Bolstered By Govt's Plan

12 September 2000

WELLINGTON, NEW ZEALAND –Sept. 12, 2000 – As reported by The Dow Jones: "Sky City Ltd.'s (A.SKY) position in the New Zealand gaming industry has been bolstered by government plans to restrict further casino license applications, analysts said Monday.

"Earlier, New Zealand Minister of Internal Affairs Mark Burton said he has presented a bill to parliament to extend the existing moratorium on new casino license applications.

"…Burton said the purpose of the initial moratorium was to prevent a proliferation of casinos while new legislation was developed to address concerns about the licensing criteria in the Casino Control Act 1990.

"…Sky City is currently building a casino in Queenstown in the South Island, while a High Court ruling has halted the development of a casino in the North Island provincial city of Hamilton.

"..ABN-AMRO Equities NZ Ltd. Jeremy Simpson said the extended moratorium is good news for Sky City, which has a casino in Auckland and thus holds a monopoly position in New Zealand's largest city…"

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