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'No comment' on Chch Casino report - TVNZ

Sunday, 07 November 2010 20:27 administrator

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SkyCity targets big gains SkyCity to raise $50m from capital note sale

SkyCity is refusing to comment on a report that it has put on the table $100 to $110 million to buy the half of Christchurch Casino it does not already own.

SkyCity general counsel and company secretary Peter Treacy said the company had made no secret of its desire to own 100 percent of Christchurch Casino.

"Any discussions we may or may not have had with the other Christchurch Casino shareholder, Skyline Enterprises, remain confidential," he said.

BusinessDay reported it "understands" SkyCity has put the money on the table.

It quoted Skyline chairman Ken Matthews saying SkyCity had made no formal offer. Asked whether an informal offer was made, Mr Matthews said, "I'm not going to comment on that".

Skyline was a long term investor in the casino, he said.

"It's very difficult to find investments in this country of a tourism nature that are of scale. Why would we contemplate selling something that's of scale?"

If a formal offer was made the board would have to consider it.