SkyCity has sold its 50% stake to cinema software vendor Vista Entertainment Solutions. SkyCity explained that it took the decision in order to pay more attention to its casino operations. So, it has shared the cinema business.
Vista CEO Murray Holdaway said that SkyCity had indicated it longtime back that it is intending to focus more on core casino and entertainment businesses and dissociate from the cinema wing.
"Our relationship with SkyCity was right at the time, and permitted our Company to grow its present leadership position", he was quoted as saying in a statement.
He further added that his Company is pretty happy and excited in gaining total control of the cinema business.
Vista's customer base is extended over 47 countries.
SkyCity had proclaimed the sale of its cinema business in 2009. It owns 35% revenue share in Australian-based cinema operator Amalgamated Holdings Ltd.
SkyCity Chief Executive Nigel Morrison expressed his glee over the sale of the stake.
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