Timing of new gig for SkyCity 'unfortunate' – Jarden

SkyCity expected to report a $24m loss for first half. (Image: BusinessDesk)

Tue, 01 Feb 2022

Stumping up €25 million ($40m) for online gaming platform Gaming Innovation Group (GIG) just ahead of Christmas wasn’t ideal timing for SkyCity, given escalating debt levels and covid operating challenges, investment house Jarden says.The purchase – to help fund GIG’s purchase of European online sports betting company Sportnco for €70m – will mean SkyCity ends up with 11% of the Scandinavian-listed firm, making it the largest single shareholder. Malta-based GIG was brought on as a strategic partner to SkyC...

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