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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.