SkyCity agrees Darwin casino sale for A$188 mln

Wed, 07 Nov 2018

By Gavin Evans Nov. 8 (BusinessDesk) - SkyCity Entertainment has agreed to sell its Darwin casino for A$188 million to US-based Delaware North as part of a plan to free up capital and focus on its more profitable Auckland and Adelaide operations. The sale price is about A$8 million above the book value of the asset, excluding neighbouring waterfront land at Little Mindil, which the company plans to sell separately. SkyCity has not yet determined what it will do with the proceeds. “There are a number of strategic initiatives being pu...

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