SkyCity sells Auckland carpark for $40M to free up cash for debt repayment, growth

Wed, 09 May 2018

By Tina Morrison May 10 (BusinessDesk) - SkyCity Entertainment Group sold its Federal Street carpark in Auckland for $40 million, as it moves to free up cash from non-core assets to reduce debt and fund future growth. New Zealand's only listed casino company said it sold the 427-space carpark near its landmark Auckland casino to Melbourne-based ICD Property Investment following a tender process. The price is above the carpark's $22 million book value, with settlement scheduled for late April 2019, it said in a statement. SkyCity is lo...

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