SkyCity takes A$95M charge against Darwin casino, blames NT government policy

Tue, 25 Jul 2017

By Jonathan Underhill July 26 (BusinessDesk) - SkyCity Entertainment Group will write off all the goodwill in its Darwin casino complex with an A$95 million impairment, saying increased competition for gaming machines in the Northern Territory hurt revenue and earnings. The non-cash impairment will be recognised in the Auckland-based casino and hotel group's results for the year ended June 30 and will reduce the book value of the Darwin property to A$195 million, it said in a statement. The impairment amounts to the full value of goodwill...

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