SkyCity rolls dice on selling Adelaide casino - News | InDaily, Inside South Australia
Indaily
SkyCity plans to sell its Adelaide casino and Eos Hotel after financial losses and a $21 million fine.Summary
SkyCity Entertainment Group has announced that it will soon begin a formal sale process for its Adelaide casino and the luxury Eos Hotel, following inquiries from credible interested parties. The company also disclosed that it received unsolicited approaches from two parties to acquire the entire company, but the board unanimously rejected the proposals as undervaluing SkyCity. This comes after SkyCity was fined $21 million for failures in anti-money laundering and counter-terrorism obligations, and reported a 37.6% drop in group profits to $15.1 million. The company is finalizing a binding agreement with Consumer and Business Services to resolve outstanding regulatory matters from the independent review.
(Source：Indaily)