SkyCity Entertainment Group has opened a structured process to seek proposals for the whole company while preparing to apply for two licences in New Zealand's planned regulated online casino market. The two tracks place a strategic ownership review alongside the operator's continued expansion into digital gambling.
The board said it decided to invite proposals after continued interest in SkyCity. Interested parties may receive access to due diligence, with UBS and Chapman Tripp appointed as advisers, according to the company's annual meeting chair address.
The process does not mean a transaction will occur. SkyCity said there is no certainty it will receive an acceptable proposal, while the board remains confident in the group's current strategy and management team. That distinction makes the review an invitation to test market interest rather than a completed sale decision.
At the same annual meeting, management said SkyCity is preparing applications for two New Zealand online casino licences. The chief executive's address positioned the digital applications as part of the group's longer-term plans, while Asia Gaming Brief reported that the licensing preparations are proceeding alongside the strategic review.
