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Skyline Bid Rejected Again

8 January 2004

NEW ZEALAND – As reported by the (New Zealand) Stuff: "Skyline Enterprises has been knocked back twice in its attempts to buy a controlling stake in Christchurch Casino, the company's UK partner says.

"Aspinall managing director and casino director James Osborne said his company's 41 per cent stake in Christchurch Casino was definitely up for sale, but so far no one had come up with the right price.

"Mr Osborne and casino chairman Barry Thomas, who represents the interests of 41 per cent shareholder Skyline Enterprises, have fallen out with Mr Thomas accusing the London gambling business of going behind his back to hold talks with rival Sky City.

"…Mr Osborne said Skyline had made Aspinall an offer for its 41 per cent stake in August last year, but had been refused. Skyline came back with an increased offer, but again Aspinall had turned its partner down.

"…As far as Aspinall was concerned there were only two potential buyers – Skyline or Sky City…"

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