Delaware North takes first step into Australian casino market

 

 

 

 

 

 

 

 

 

 

Australia and New Zealand casino operator SkyCity Entertainment has confirmed the sale of its SkyCity Darwin casino for $137m to Delaware North.

The US-based operator, which owns casinos in six American states, will complete the agreement after obtaining approval from Northern Territory regulators and finance allowances within 60 days.

The deal does not include the adjacent Little Mindil beachfront property which will be sold separately, and will additionally allow SkyCity to maintain VIP gambling facilities at the property for a further two years.

The deal comes ahead of a joint online casino venture between the two firms, based in the Northern Territory, with SkyCity CEO Graeme Stephens stating both companies “see both International Business and the online space as future growth areas for us, so we see value in this outcome.”

SkyCity Darwin features 152 hotel rooms, four restaurants, five bars, with a casino floor operating 600 EGTs and over 30 table games.

“Australia has been a second home for Delaware North for 30 years,” said Delaware North co-CEO Lou Jacobs. “We are thrilled to have grown our business into a diversity of operations across the country.”