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SkyCity Completes Purchase of Casino Shares

21 July 2004

NEW ZEALAND – As reported by the New Zealand Scoop: "SkyCity Entertainment Group Limited (SKYCITY) today announced that it has settled the $10.5 million purchase of Tainui Group Holdings Limited's (TGHL) 15% shareholding in Riverside Casino Limited, the owner of the SKYCITY Hamilton gaming and entertainment complex.

"This increases SKYCITY's equity position in the Hamilton business to 70%.

"SKYCITY Entertainment Group Managing Director, Evan Davies, said the company's interest in acquiring the shareholding was a logical move in a company where SKYCITY is already majority shareholder and the operator of the business…"

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