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SKYCITY appoints new CEO

By Maddy Milicich

Tuesday 18th December 2007

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SKYCITY Entertainment Group today announced the appointment of Nigel Morrison as its new chief executive.

Morrison has over 18 years experience in the gaming industry throughout Australia and most recently in Asia.

Morrison was chief executive of the Federal Group, Australia's largest private casino and gaming company. Prior to this he was chief operating officer at Crown Limited (operator of Melbourne's Crown Casino) where he played a key role in restructuring the business and increasing revenues to over A$1 billion.

He is currently the group chief financial officer of Galaxy Entertainment Group in Macau: a Hong Kong based listed company with a market cap of HKD$30 billion (NZ$5 billion).

Prior to embarking on a career in casinos in 1993, Morrison was a corporate finance partner with Ernst and Young, specialising in the gaming industry.

SKYCITY chairman Rod McGeoch said he and the Board were delighted to welcome Morrison onto the team.

"Nigel has the international and regional gaming industry experience we were seeking to take the SKYCITY business forward. He has an impressive record of success in building effective management teams and delivering consistent returns for shareholders.

"The Board was determined to appoint a CEO who was able to build on the momentum achieved by Elmar Toime in strengthening the performance of our casino business. We're confident that Nigel's financial background and extensive operational experience will add tremendous value to the SKYCITY businesses."

Morrison said he was excited to be offered this opportunity and was looking forward to leading the Group to realise its considerable potential.

"My core objective is to restore full confidence and pride for all SKYCITY stakeholders. Gaming is at the very core of SKYCITY and we will be focussing on building our existing gaming businesses, with a key priority on revenue growth in all markets. I am committed to building long term shareholder value, not only through organic growth, but at the right time, through capitalising on other gaming opportunities in the region."

Elmar Toime has been acting CEO since Evan Davies quit six months ago; Morrison will take over from Tiome March 17.

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond


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