Another casino operator is in trouble. Nobody is talking about it
Star Entertainment has been tearing itself apart. But SkyCity is also in a world of pain, with lenders sceptical, money tight and management in disarray.
About the best thing you can say about SkyCity Entertainment, the owner of casinos in Adelaide and Auckland, is that it is not Star Entertainment, its rival gaming operator which is in the midst of a slow motion train wreck courtesy of NSW regulators.
But that’s about it. At any other time, SkyCity’s financial and strategic underperformance would be the subject of harsh scrutiny and vocal upset from investors.
Loading...
clarification —
A previous version said SkyCity chairman Julian Cook would step down from his role once a new chief executive was appointed. The article has been updated to clarify he will stop providing executive support to the chief executive.
Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
