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Christchurch casino stake in play

22 May 2007

NEW ZEALAND -- As reported by the New Zealand Press: "South Island millionaire Barry Thomas is playing his cards close to his chest on the potential sale of SkyCity Entertainment Group's 40.5 per cent stake in Christchurch Casino.

"The Queenstown businessman battled to keep SkyCity from buying the stake from British casino business Aspinall in 2004. SkyCity paid $93.75 million.

"SkyCity announced a sweeping review of its businesses yesterday which include potential asset sales and curtailing acquisitions in moves likely to make it a more attractive takeover target.

"Thomas is chairman of Skyline Enterprises which also has a 40.5% stake in Christchurch Casino Ltd.

"...When asked if Skyline would be interested in buying the stake, Thomas did not say Skyline was not interested..."

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