Star Entertainment’s recent difficulties – from money laundering allegations to the threat of a major tax rise for its Sydney casino – have made it easier for its smaller rival SkyCity Entertainment to fly under the radar.
But the company, which is listed on the ASX and runs the Adelaide casino, is facing more short-term pain, with sources suggesting negotiations with Macquarie over the termination of a deal to own and operate the car parks at its flagship Auckland operations have broken down.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
