SkyCity Announces New Chief Financial Officer

SkyCity Announces New Chief Financial Officer

SKYCITY Entertainment Group (SKYCITY) Chief Executive Officer Nigel Morrison today announced the appointment of James Burrell to the role of Chief Financial Officer for the SKYCITY Group.

Mr Burrell will take over from current CFO Alistair Ryan on 1 July 2011. Mr Ryan has been a senior executive with SKYCITY since the business commenced operations in February 1996 but is retiring as a full-time executive in order to establish a portfolio of non-executive directorships.

SKYCITY CEO Nigel Morrison says Mr Burrell will be a valuable addition to the company.

“James has had a very successful career, in creating shareholder value and identifying, evaluating and financing a range of businesses acquired by the international private equity firm Permira. He was an integral part in the US$840m investment in Hong Kong listed Macau-based casino group Galaxy Entertainment Group (Galaxy) in 2007 and more recently in Asia Broadcast Satellite in 2010.”

Based in Permira's London office from April 2004, Mr Burrell worked on a number of transactions in the gaming, hotels, conference and leisure industries, before moving to Hong Kong in early 2008 to help establish Permira's office for the Greater China region.

“I have previously worked closely with James when I was CFO of Galaxy and I was impressed with his significant competencies. The Galaxy casino, hotel and leisure businesses in Macau, have provided James with direct experience and insight into the fastest growing gaming, hotel and entertainment market in Asia. We look forward to welcoming James to the SKYCITY team,” said Mr. Morrison.

Mr Burrell is a chartered accountant originally from the United Kingdom, where he trained with Arthur Andersen in audit and transaction advisory services. He has a degree in Business (International Management) and French from Bath University, England.

"I am delighted to be joining SKYCITY at this exciting time for both the company and the New Zealand economy. Since working with Nigel when he was CFO at Galaxy, I've watched with interest as the SKYCITY business has made solid progress. I'm looking forward to working with Nigel and the first class team at SKYCITY to support the company in the next phase of its growth," says Mr Burrell.

ENDS

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