Genting Group of Malaysia and Australian casino operators Crown Resorts and Star Entertainment Group reportedly have been approached by SkyCity Entertainment Group to purchase SkyCity Darwin in northern Australia. The company is said to want to sell the Darwin operation and focus more on expanding its Adelaide and Auckland properties.
SkyCity officials said they have appointed Goldman Sachs to discuss a potential sale with interested parties. Observers said Star has rejected any overtures and Crown is focusing on stabilizing its current assets, following a mass sell-off its foreign interests and James Packer’s recent surprising resignation from the board for mental health reasons. Genting Group could position Darwin to appeal to its high-end customer, since it’s accessible by a short flight from Asia.
SkyCity Darwin is worth an estimated $154-$192 million; buyers would have exclusive rights to operate a casino in Darwin until 2036.
