New Zealand’s SKYCITY Entertainment Group has appointed Goldman Sachs to test interest from selected parties in regards to a possible sale of SKYCITY Darwin in Australia.
Outlining its future plans in an investor presentation on Monday, SKYCITY said that it was continuing to evaluate strategic options, including a full sale, with potential proceeds to be used to repay debt and fund strategic growth initiatives.
The company is currently expanding its integrated resorts in Auckland and Adelaide and is considering an expansion of its small SKYCITY Queenstown property.
SKYCITY revealed in October that it was considering offloading SKYCITY Darwin, but the appointment of Goldman Sachs to actively approach buyers takes that process to the next level. The company also operates SKYCITY Wellington and Horizon VIP Suites in Auckland.
SKYCITY said in its investor presentation that the share of its revenue coming from junket operations had soared in 1H18 to 55%, up from 40% for Full Year 2017.
