SkyCity’s Darwin Casino & Gambling house and Vacation resort offers been sold to US food organization Delaware North for A$188m ($137m).
The organization from New Zealand bought the Northern Territory land for A$195m in 2004 and, recording, the Australian Financial Review reported the casino organic could be well worth between A$200m and A$250m.
The contract excludes the small Mindil real estate, which is probably sold in a different process.
SkyCity Entertainment Group CEO, Graeme Stephens, stated: “I’m actually pleased that following an extremely competitive sensitive procedure Delaware North experienced emerged because of the effective bidder.
“They are an extremely respected and well-established food and gaming business and I’m incredibly comfortable giving more than the company we possess built up a lot more than the recent 14 years to an owner of the caliber.”
The offer is now subject matter to authorization from North Territory Attorney-General Natasha Fyles.
On how the offer impacts upcoming SkyCity programs, Stevens said: “The sale is usually constant with this ‘capital lighter” technique to present non-core property and also to allocate capital to property or home and organization which all of us feel will be lined up with our long lasting tactical goals.
“It also permits us to focus the Aus. actions in Adelaide, which is going through an A$330m growth.”