Friday 5 September 2025

IAG

No Result

View All Result

No Result

View All Result

IAG

No Result

View All Result

SkyCity sells off stake in online platform provider Gaming Innovation Group

by Newsdesk

Tue 25 Jun 2024 at 06:40

SkyCity sells off stake in online platform provider Gaming Innovation Group

15

SHARES

366

VIEWS

New Zealand’s SkyCity Entertainment Group said early Tuesday that it has entered into an unconditional agreement to sell its entire 10% shareholding in Gaming Innovation Group Inc (GiG), the European-based online gaming platform provider and media services operator that hosts the company’s online gaming operations.

In a filing, SkyCity said the net proceeds of the sale are approximately NZ$55 million (US$33.7 million) after brokerage and legal costs, with the proceeds to be used to pay down debt. This, the company added, is “part of its ongoing prudent approach to capital management.

“SkyCity has decided to divest its shareholding in GiG as it is non-core to its ongoing operations, and is now not considered strategically necessary for SkyCity,” it said.

SkyCity will continue to work with GiG through its involvement with online real money casino SkyCity Online Casino, operated out of Malta.

The company acquired its shareholding in GiG in April 2022 for €25 million (US$26.8 million).

RelatedPosts

Death by a thousand cuts

SkyCity announces US$140 million equity raising on continued economic weakness, lower customer spend

Thu 21 Aug 2025 at 05:11

Commissioner orders immediate resumption of independent review into SkyCity Adelaide operations

SkyCity Adelaide found suitable to retain casino license following independent review

Wed 13 Aug 2025 at 05:14

SkyCity launches mandatory carded play across its three New Zealand casinos

SkyCity launches mandatory carded play across its three New Zealand casinos

Wed 23 Jul 2025 at 09:44

New Zealand’s Online Casino Bill passes first parliamentary reading

New Zealand’s Online Casino Bill passes first parliamentary reading

Tue 15 Jul 2025 at 13:59

Load More

Tags: Gaming Innovation Group New Zealand SKYCITY Entertainment Group SkyCity Online Casino

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke

Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke

Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia

GLI

Mindslot

Solaire

Tecnet

NWR

Related Posts

Galaxy Macau signs four-year strategic partnership to bring UFC events to Galaxy Arena

Galaxy Macau signs four-year strategic partnership to bring UFC events to Galaxy Arena

Thu 4 Sep 2025 at 12:13

Galaxy Entertainment Group has announced a four-year strategic partnership with the Ultimate Fighting Championship (UFC) to bring three UFC Fight Nights to Galaxy Macau’s Galaxy Arena between 2026 and 2029. Under the partnership Galaxy Arena will host the opening round...

Travellers Group set to take majority equity position in development of Manila’s LETX hotel and casino to pave completion roadmap, planned to become operator upon launch

Suntrust begins process of transferring control of Manila’s LETX project to Travellers by acquiring shares in new entity

by Ben Blaschke

Thu 4 Sep 2025 at 12:02

Philippine-listed Suntrust Resort Holdings, Inc said Thursday that it has subscribed to 400 million common shares in Westside Bayshore Holding Corporation (WBHC) – the soon-to-be new holding company for Manila’s LETX integrated resort development – as the process to transfer...

Casinos remain closed as Goa extends lockdown measures for one week

Delta Corp puts Goa integrated resort project on hold pending resolution of crippling tax claims

Thu 4 Sep 2025 at 06:06

India’s Delta Corp has suspended construction of a US$285 million integrated resort project in Goa until it receives more clarity on moves to increase the GST charged on bets placed to 40% and retrospectively claim back taxes. The project, first...

Philippines international visitation back to 70% of pre-COVID levels

Foreign visitation to the Philippines down 2.8% from January to July on lower arrivals from South Korea and China

Thu 4 Sep 2025 at 05:19

The number of foreign visitor arrivals to the Philippines is down almost 3% for the first seven months of 2025 combined, impacted by the continued decline in visitation from key source markets South Korea and China. According to latest information...

No Result

View All Result

© 2005-2025
Inside Asian Gaming.
All rights reserved.