SkyCity sells stake in Vista
Cinema management software provider Vista Entertainment Solutions said it is now wholly owned by staff and management after SkyCity Entertainment Ltd completed the sale of its 50 percent stake in the company.Last year SkyCity announced the sale of its cin
Cinema management software provider Vista Entertainment Solutions said it is now wholly owned by staff and management after SkyCity Entertainment Ltd completed the sale of its 50 percent stake in the company.
Last year SkyCity announced the sale of its cinema business, which has over 35 percent of New Zealand's box office revenue, to Australian-based cinema operator Amalgamated Holdings Ltd. That sale excluded SkyCity's 50 percent share of Vista Entertainment Solutions.
SkyCity chief executive Nigel Morrison said he was pleased with the sale and wished Vista the best for their continued future expansion and success.
Vista chief executive Murray Holdaway said SkyCity, for some time, had signalled that it wished to divest its cinema arm and related businesses and focus on its casino and entertainment business.
"Our relationship with SkyCity was right at the time, and permitted our company to grow to its present leadership position. However, we are delighted to now have full control of the business and are excited about further expansion globally."
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