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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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