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Christchurch Chairman Seeks Tighter Grip

7 January 2004

NEW ZEALAND – As reported by the New Zealand Herald: "Christchurch Casino chairman Barry Thomas yesterday trumpeted plans to strengthen Skyline Enterprises' grip on the company in the face of a possible buy-in by gambling giant SkyCity.

"In the latest instalment of his war by press release, Thomas said the board of the casino company would late this month be asked to approve a share placement to Skyline.

"Skyline has a direct 30.7 per cent stake in the casino and a 41 per cent interest including shares held indirectly.

"…The Queenstown company is fighting to stop its partner, the UK gambling group Aspinall, from selling out to local gambling giant SkyCity Entertainment.

"…Increasing Skyline's stake would stop SkyCity from entering the company on an equal footing by buying out Aspinall…"

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