SkyCity Entertainment Group, which recently quit its stake in the Christchurch casino, says the market in the Philippines is "attractive" but nothing needs to be told to shareholders yet.
The company made a statement to the stock exchange comes after chief executive Nigel Morrison told the New Zealand Herald the company has sent top executives to Manila and might make a move this year.
He told the paper SkyCity has enough strength in its balance sheet to make the investment, which was reported at some $200 million.
"We are always looking at ways to grow the business beyond our existing markets and proactively review new opportunities to create shareholder value," Mr Morrison says in a statement.
"Whilst we have visited the Philippines and consider the market to be attractive, there is nothing that requires disclosure to our shareholders."
The casino operator has already signalled plans for a $A300 million upgrade of its Adelaide operation and is waiting on the outcome of an auditor-general's inquiry into building a $350 million convention centre in Auckland before going ahead with that investment.
Shares in the Auckland-based company were unchanged at $3.97 yesterday and have gained 5.8 percent this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Listen to the week’s top business news on NBR Radio’s week in review
- Prime Minister John Key would be better off doing the things he tells people he will do, says Matthew Hooton
- Paula Bennett is “thrilled” by the ban on three Wicked Camper vans, says Rodney Hide
- Michael Wigley says Uber may have inadvertently opened itself to action under competition law
- Tim Hunter on the Z Energy-Chevron deal