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PBL Closer to Casino Ownership

23 July 2004

AUSTRALIA – As reported by the Australian Broadcasting Corporation: "The Packer family's Publishing and Broadcasting Limited (PBL) has edged one step closer to a successful takeover bid for Western Australia's Burswood casino.

"As of yesterday, PBL had secured almost 38 per cent of Burswood's issued shares in its own right.

"…The offer is conditional on PBL acquiring at least 90 per cent of Burswood shares, and on the board of the casino operator unanimously recommending the offer."

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