SkyCity eyes 'asset lighter' plan to free up cash for growth, protect dividends

Mon, 26 Mar 2018

By Tina Morrison March 27 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's only listed casino company, is looking to free up cash from its existing assets during a period of heavy investment while it commits to protecting dividend payouts. The Auckland-based company is investing A$330 million in the redevelopment of its underperforming Adelaide casino, $703 million in a convention centre and Hobson St hotel in Auckland, and has committed to buy the neighbouring AA Centre for $47 million and flagged the potential for further dev...

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