Casino operator Sky City Entertainment today requested a share trading halt ahead of the announcement of a "significant transaction" to be made at 2.30pm.
"The company believes that information regarding the transaction (if it is entered into) is likely to have a material effect on the company's share price," Sky told
the exchange.
"The company will not, however, be in a position to confirm or otherwise the transaction until approximately 2.30pm this afternoon. Once that announcement has been made, the requirement for the trading halt will cease."
There has been speculation regarding Sky's involvement in the Christchurch Casino and it said it has been in talks with Las Vegas-based MGM Mirage Inc, over the MGM Grand Darwin casino.
Sky already owns the Sky City Adelaide casino in South Australia, as well as casinos in Auckland, Hamilton and Queenstown.
Aspinall has been attempting to sell its 41 per cent stake in the Christchurch casino. Skyline Enterprises, which also controls 41 per cent of the business opposes a sale to Sky City.
That stake is expected to be worth around $92 million.
Sky City has been speaking to Aspinall about a possible deal.
Both Aspinall and Skyline went to the High Court for rulings over issues surrounding ownership of the company, but few details of the decision emerged.
- NZPA
