"Actually, the events this year will be a
blessing for SKC. It needs them as Hamilton has only just come on stream and the
new Convention Centre is being built. Also, the old convention floor is being
worked on with the installation of some 350 gaming machines. Both projects to be
completed in Dec. next year.
While building proceeds, there will be no income from these projects. The
proposed new hotel won't start till after the new Convention Centre has been
built. Thus the income of the previous projects will support the latter.
Obviously, SKC has financing in place for these projects and the Cashflow
will be a great help as well.
The new Convention centre to open in Dec 2003 at the same time as 350 new
gaming machines become available: good planning!
Thus the year up to 30 June 2004 to benefit from that.
The new hotel is
to be completed in Dec. 2004, so, the year to 30 June 2005 ought to be a boomer
and the year after that even more so as all facilities will be in use during a
# # # That should give great comfort to the investor knowing that the
future till at least 30 June 2006 has been mapped out! Be prepared to pay for
SKC shares while knowing in advance of such a long period of near-certainty!
The name "Sky City" is well chosen; there will be a massive pedestrian
count around-and in the Auckland Complex.
In the meantime, the current year to June 30, 2003 sees the Hamilton project
up and running while in Auckland, the many events will keep Sky City busy. The
performance of the Adelaide Casino will be of interest as well.