13 Jun 2011

Sky City shares up

11:59 am on 13 June 2011

Shares in Sky City Entertainment Group rose by more than 1.5% after it was named as the preferred bidder for a national convention centre in Auckland.

The casino operator will pay the estimated cost of $350 million, in return for an extension to its license beyond 2021 and being allowed to add more gambling tables and machines.

Sky City shares rose 6 cents to $3.52 on Monday.

Hamilton Hinden Greene director Grant Williamson says investors think the deal appears good all round.