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Sky City numbers slumps

NEW ZEALAND -- As reported by Bloomberg: "Sky City Entertainment Group Ltd., the New Zealand casino company that put itself up for sale, slumped to its lowest in more than 4 1/2 years in Wellington trading, amid speculation it may not receive a bid.

"The stock ended the day 2.6 percent lower at NZ$4.09 on New Zealand's stock exchange, the weakest since it closed at NZ$4.08 on May 22, 2003.

"The Auckland-based gaming company opened itself up to potential bidders in September after it was approached by an unidentified party, named by the New Zealand Herald as buyout firms TPG Newbridge Capital and Apollo Management LP. The stock has slipped 14 percent since Nov. 29, when a deadline for bids passed without a single offer.

"...Sky City shares tumbled 11 percent last year, after jumping 10 percent the year before."

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