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The
Straits Times, 30 Jun 04
Village Roadshow may invest A$40m in Sentosa
It is in talks with Sentosa Leisure Group to build and operate theme
park
By Vince Chong
MELBOURNE-based entertainment group Village Roadshow - known in Singapore
as one-half of cinema joint venture Golden Village - could invest
up to A$40 million in a theme park on Sentosa.
Darrell Metzger, CEO of Sentosa Leisure Group, which is overseeing
the billion-dollar revamp of the island, confirmed yesterday that
SLG is in talks with Village Roadshow on a possible theme park. 'Although
at an embryonic stage, we are excited that negotiations have seemed
fruitful so far, and Village Roadshow - with its vast experience and
expertise in the international entertainment circuit - is a partner-investor
that we would love to see on the island,' he said.
'As part of Sentosa's masterplan, there is a designated area at the
northern waterfront zone of the island for a mid-size theme park and
Sentosa has been on the lookout and speaking to various interested
parties.'
In an earlier interview with BT, Mr Metzger said SLG was looking to
wrap up theme park investment on Sentosa by the middle of this year,
before it starts looking in another direction.
Listed Village Roadshow said in a statment yesterday that its 'potential
participation would be in the design and management of construction
of the theme park as well as an equity interest of either 25 per cent
or 50 per cent in, and management of, the ongoing business'. 'The
level of the company's participation in the project will be subject
to negotiations with the Singapore authorities but, at this stage,
the direct equity commitment could be approximately A$20 million to
A$40 million,' it said. 'Contributions would be required over the
next three years. Funding is still to be finalised but it is envisaged
this may include an extension of the company's existing theme park
facility.'
Village Roadshow's business spans the entire spectrum of entertainment,
from operating theme parks like Movie World and Sea World in Australia,
and 1,139 movie screens worldwide, to producing movies such as the
two Matrix sequels - Reloaded and Revolutions. |
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