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NZ's Sky City says to build A$50 mln resort in Darwin

Sun Jun 8, 2008 9:47pm EDT

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WELLINGTON, June 9 (Reuters) - New Zealand casino operator Sky City Entertainment Group (SKC.NZ) said on Monday it would spend A$50 million ($48 million) on developing a resort in Darwin Australia.

Sky City said it had secured a beachfront site next to its existing casino in the north Australian city, and would build a resort with accommodation, entertainment and recreational facilities.

Shares in Sky City, a top-10 stock, last traded down 2.2 percent at NZ$3.6 after moving between NZ$3.6 and NZ$5.41 over the past 12 months. (A$1=$1.04)



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