SkyCity sells Grand Hotel for $221m, nearing $300m asset sale goal
SkyCity has sold its central Auckland Grand Hotel for $221m to reach nearly $300m in property disposals as it repairs its balance sheet.
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SkyCity has sold its central Auckland Grand Hotel for $221m to reach nearly $300m in property disposals as it repairs its balance sheet.
Australian hospitality group Iris Capital has finished buying Christchurch Casino from Skyline Enterprises and also gains a 33% stake in Dunedin Casino.
SkyCity Entertainment Group is selling its Adelaide casino and considering whether to sell the entire company after receiving unsolicited acquisition approaches.
Iris Capital is reportedly being considered as a potential purchaser of SkyCity's Adelaide casino operation.
SkyCity Entertainment Group's share price has jumped 10.7% this week following positive annual results and rejection of takeover offers.