SkyCity increases debt, writes down value of Adelaide casino

(Image: NZME)

Mon, 19 Aug 2024

Entertainment company SkyCity’s full year finances this week will include a non-cash impairment of $94.3 million related to its troubled Adelaide casino and new debt totalling $465m.The writedown related to more legal and compliance costs associated with its Australian casino and the introduction of mandatory carded play there in 2026.“The impairment is a non-cash accounting adjustment at balance date,” new SkyCity chief executive Jason Walbridge wrote in the market announcement on Monday morning.“SkyCity Adelaide c...

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