SkyCity shares rise to 5 ½-year high as convention centre deal inked

Mon, 13 May 2013

May 13 (BusinessDesk) – SkyCity Entertainment Group shares rose to the highest level in 5 ½ years after the Auckland-based casino and hotel company inked a deal to build a $402 million convention centre in exchange for increased gambling concessions. SkyCity shares rose 3.4 percent to $4.55, the highest since November 2007, after the deal was announced in Auckland by Economic Development Minister Steven Joyce and SkyCity chief executive Nigel Morrison. The company gains concessions with a net present value of $316 million, giving the whole p...

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