Market Would Welcome SkyCity's Adelaide Casino Sale

Dow Jones

Sep 03

2236 GMT - SkyCity Entertainment is right to put its casino precinct in Adelaide under review, signals Forsyth Barr. "We think the divestment of Adelaide would be taken well by the market considering we calculate it has delivered A$420 million of cumulative net cash losses for SkyCity through its 25 years of ownership," analyst Paul Laxton Koraua says. An analysis of recent M&A transactions in the industry suggests there's demand for regional Australasian casino assets. Forsyth Barr says Iris Capital has been the most active in recent years. Iris Capital bought Cairns Casino for A$193 million, while purchasing Christchurch Casino from Skyline for NZ$102 million.

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An analysis of recent M&amp;A transactions in the industry suggests there's demand for regional Australasian casino assets. Forsyth Barr says Iris Capital has been the most active in recent years. Iris Capital bought Cairns Casino for A$193 million, while purchasing Christchurch Casino from Skyline for NZ$102 million.</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Would Welcome SkyCity's Adelaide Casino Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Would Welcome SkyCity's Adelaide Casino Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-09-03 06:36</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>2236 GMT - <a href=\"https://laohu8.com/S/SKC.AU\">SkyCity Entertainment</a> is right to put its casino precinct in Adelaide under review, signals Forsyth Barr. \"We think the divestment of Adelaide would be taken well by the market considering we calculate it has delivered A$420 million of cumulative net cash losses for SkyCity through its 25 years of ownership,\" analyst Paul Laxton Koraua says. An analysis of recent M&amp;A transactions in the industry suggests there's demand for regional Australasian casino assets. Forsyth Barr says Iris Capital has been the most active in recent years. Iris Capital bought Cairns Casino for A$193 million, while purchasing Christchurch Casino from Skyline for NZ$102 million.</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SKC.NZ","symbol_name":"SkyCity Entertainment Group Limited (NS) Ordinary Shares","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2664231844","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2664231844","pubTimestamp":1788388560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2236 GMT - SkyCity Entertainment is right to put its casino precinct in Adelaide under review, signals Forsyth Barr. \"We think the divestment of Adelaide would be taken well by the market considering we calculate it has delivered A$420 million of cumulative net cash losses for SkyCity through its 25 years of ownership,\" analyst Paul Laxton Koraua says. An analysis of recent M&A transactions in the industry suggests there's demand for regional Australasian casino assets. Forsyth Barr says Iris Capital has been the most active in recent years. 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