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Skycity Entertainment To Purchase Riverside Centre

Skycity Entertainment Group To Purchase Riverside Entertainment Centre Building

SKYCITY Entertainment Group is to purchase the remainder of the Riverside Entertainment Centre in Hamilton, along with a range of entertainment facilities within the property.

As part of the purchase SKYCITY will acquire a bar, a 10-lane bowling alley, the Megazone games centre and a laser strike operation, as well as the portion of the historic Hamilton Post Office building that it does not already own.

The total acquisition price is $7.5 million and settlement will take place on 30 September 2005.

SKYCITY Managing Director Evan Davies said SKYCITY Hamilton had performed well since opening in 2003 and that the company was pleased to be able to consolidate its investment in the region.

"Owning the complex in its entirety will enhance our ability to offer an integrated, diverse range of attractions and facilities - the Riverside Entertainment Centre has the potential to be the entertainment centrepiece of Hamilton, and we will be looking to realise all the opportunities."

SKYCITY had acquired the front section of the Victoria Street building in June, as part of its purchase of Perry Group's 30 percent shareholding in SKYCITY Hamilton.

ENDS

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