(Bloomberg) -- Sky City Entertainment Group Ltd. headed for a record one-day gain on New Zealand's stock exchange, valuing the nation's largest casino operator at about USD 1.8 billion, after saying it received a takeover offer. The price indicated by the suitor, which Sky City declined to name, would be a "significant premium," the Auckland-based company said before trading began today.
The decision to name Camelot as winner of the competition to operate the National Lottery for a third consecutive term could be heading for a challenge in the high court after Sugal & Damani, the sole rival bidder, said it was considering seeking a judicial review. The Delhi-based conglomerate, with interests in jewellery, hotels and stockbroking as well as lotteries, attacked the decision this month by the National Lottery Commission to select Camelot as preferred bidder for the 10-year monopoly licence, starting in 2009.
Freeport - The owners of Texas Star Casino have been dealt a pair of rejections in its efforts to put gamblers on its boat. City Council voted 3-2 to reject a rezoning request for the block of Sailfish Drive at which the boat is docked. The rezoning from manufacturing to waterfront, which was unanimously recommended by the city’s planning commission, would have allowed the board to take on passengers and begin gambling operations.
Atlantic City, New Jersey -- Dealers at the Atlantic City Hilton Casino Resort have narrowly rejected a bid to unionize. The dealers voted 316-268 Saturday against joining the United Auto Workers, according to casino and union representatives. "The Atlantic City Hilton respects the informed decision made by our dealers and hopes the UAW will do likewise," Tony Rodio, President of the Atlantic City Hilton Casino Resort, said in a statement issued early Sunday.
James Packer's Publishing & Broadcasting Ltd., Australia's biggest casino owner, agreed to buy gambling venues in Canada for CAD 1.37 billion (USD 1.2 billion) in its first foray into North America. Packer, Australia's richest man, joined with Macquarie Bank Ltd. to buy Gateway Casinos Income Fund, a casino operator in Western Canada, for CAD 886 million, according to a statement today.
