Skycity’s Darwin casino sale now unconditional

The sale of SKYCITY’s Darwin casino to Delaware North has gone unconditional with all the conditions for the sale and purchase now being satisfied including getting all the necessary approvals from the government of the Northern Territory.

The transfer will now take place on April 4 2019, with an agreed price of A$188 million as announced in November last year, according to a statement from Skycity to the NZX this morning.

“The sale is consistent with our strategy to sell certain non-core assets and to allocate capital to assets and businesses which we feel are better aligned with our long-term strategic objectives,” SKYCITY Chief Executive Officer Graeme Stephens said.

The transaction excludes a parcel of property known as Little Mindil which has a book value of A$11 million which SKYCITY will sell separately.