Sky Pokie Deal Closure Date

Posted by fossunited 
Sky Pokie Deal Closure Date
November 21, 2012 07:46PM
Just wondering, in the deal on total sky pokies the govt will agree to give in return for the convetion centre:
Pokie Deal

There is a difference between the main closure date advertised in the top left Contract info (1 Jan 2013) and the wording of the contract where it says:

If there is no outcome to the negotiations by 1 January 2014, or if the Prime Minister announces definitively and finally that no deal will be done with SKYCITY, the contract will close immediately at $0.

Can you confirm what the actual close date is? I've been shorting it on the assumption that the announcement will not go through by the end of this year, based on the big contract info display of a close date, but if it is actually going out to 2014 it's going to cost me I think.
Re: Sky Pokie Deal Closure Date
November 22, 2012 09:34AM
In the past, the current admin has seemed to mostly ignore the specified close date, preferring whatever is written in the judging criteria. IMO this is the incorrect approach to take (closure dates should match) but that's what he's done.

I shorted this stock a long time ago, on the basis that I think it'll close at $0. Was wondering why it was going down so much recently.
Re: Sky Pokie Deal Closure Date
November 22, 2012 09:45AM
Thanks

We are ammending the closing date to 1 Jan 2014.
Re: Sky Pokie Deal Closure Date
November 22, 2012 11:51AM
I have to admit, I didn't short it all the way down to that and took my initial position when it was at $0.85. But as we got closer to 2013 it seemed a reasonable price at $0.50. I wonder what would have happened if instead of raising the question I would have waited until January and asked for it to close.

I see that the price just flew up as a result of this - which is just fantastic. Got to love misleading info costing you.
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