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[sharechat] SKY CITY

From: "John Redgrave" <>
Date: Thu, 27 Jul 2000 22:03:04 GMT


I followed the link to Merril Lynch's NZ webpage that was posted a while 
back by Phillip,

They have some market research available for free!!  Their report on SKC is 
quite interesting, they rate it as a "Long term buy" with a valuation of 
$7.83 I think.  Their report was done on the 15th of May, before the Canbet 
purchase and when the shareprice was under $6.00.

It is a very interesting read, I would recommend that you go there and have 
a look, also there is quite alot on CEN, SKY, TEL etc etc.

They talked about the effect of the Hamilton casino having the plug pulled 
on it, the price paid for the Adelaide casino, the Labour Govt (bless their 
hearts) poossible changes to tax on gambling etc etc.... for instance, they 
believe that for every 1 % the gaming tax increases by, that will knock the 
share price down 20 cents.  So there is some uncertaintity there, which 
could be holding it back, but since their report was written, I've been very 
pleased with the modest gains.

(Thanks Sara for your support of SKC which convinced me not to sell up... 


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