SkyCity denies Darwin casino for sale

    SkyCity Entertainment Group has denied recent media reports it’s considering the sale of its Darwin casino, New Zealand’s Scoop reports.

    According to the Australian Financial Review’s Street Talk column, the casino operator is understood to have approached investors in March to “gauge market interest” in its assets, which include one of its Auckland hotels, several carpark facilities, and its Darwin Casino.

    With SkyCity’s debt to earnings ratio set to hit 3x in the 2018 fiscal year along with several projects in the pipeline, the company has “little room for error,” says The Australian Financial Review, which quotes local sources.

    However, a SkyCity spokesman said the company had no intention of selling the Darwin casino and had assured its Northern Territory staff today.

    In February, the casino operator reported its Darwin operation had increased EBITDA by 6.9 percent to A$23.1 million, with revenue up 2.3 percent to A$75 million.