OK given for Dunedin Casinos to acquire US interests

Mr Hagaman has been placing some of his assets, including his 42% shareholding in Dunedin Casinos, into a family trust called the Casino Trust.

Consent was required from the Overseas Investment Commission because he has chosen one of his daughters to be a trustee.

She is a US resident and one of three Hagaman offspring living there, so she will represent their interests over 27% of the voting securities of Dunedin Casino's and a share in voting power to appoint directors of Dunedin Casinos. The casino leases space in Dunedin's Southern Cross Hotel, the flagship for the Scenic Circle Hotels chain.

Mr Hagaman co-founded the Scenic Circle chain in the mid-1980s.

Profile - see The Rich List

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained