UPDATE ON CONCESSION AGREEMENT
MKTUPDTE
Mon, Dec 11 2023 08:30 am
11 December 2023
UPDATE ON CONCESSION AGREEMENT
SkyCity Entertainment Group Limited (SkyCity) advises that it has agreed a mutually beneficial commercial resolution to the outstanding disputes with MPF Parking NZ Limited (MPF) in relation to the long term Concession Agreement entered into in respect of the SkyCity Auckland car park.
SkyCity and MPF have agreed that, in exchange for the return of the car park on 31 January 2024, a Compensation Sum of $204 million will be paid by SkyCity to MPF under the Concession Agreement, and that the disputes between the parties in respect of this matter have been fully and finally resolved.
SkyCity looks forward to working with MPF on the orderly transfer back to SkyCity of the Auckland car park business, which is a high-quality, integrated operating asset that is a key driver of local gaming visitation.
For more information, please contact:
Investors and analysts
Craig Brown
Head of Investor Relations & Corporate Development
Mobile: +64 27 470 6802
E-mail: [email protected]
Media
Graeme Muir
Communications Manager
Phone: +64 21 426 844
Email: [email protected]
Authorised by:
Jo Wong
Company Secretary
Phone: +64 9 363 6143
Email: [email protected]
Announcement PDF
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