SKYCITY Entertainment Group sells their Darwin business

Company News

by Rachael Jones

SKYCITY Entertainment Group (ASX:SKC) confirms that the sale of its Darwin business to Delaware North is now unconditional following the satisfaction of all conditions in the sale including obtaining all necessary approvals from the Northern Territory Government.

Completion of the sale is expected to occur on 4 April 2019.

Sale price is $188 million for 100 per cent of the shares in SKYCITY Darwin.

The Little Mindil property with a book value of $11 million next to the SKYCITY Darwin site, has been retained by SKYCITY and is to be sold separately.

Shares in SKYCITY Entertainment Group (ASX:SKC) last traded at $3.67.