Adelaide casino might be for sale

22 May 2007

AUSTRALIA -- As reported by the Sydney Morning Herald: "The Adelaide casino could soon be on the auction block, with James Packer's Publishing & Broadcasting Ltd likely to be the only bidder after New Zealand gaming company SkyCity Entertainment Group announced it would sell businesses that were not keeping up.

"Gaming industry players Tabcorp and Tattersall's are believed to be unlikely to bid for the Adelaide casino.

"...Adelaide is unlikely to attract a high price because of the lack of likely bidders and the fact that the casino is located in a heritage-listed building which is almost impossible to expand or renovate.

"...SkyCity made the announcement at an update for analysts and institutional shareholders, where it also revealed a $NZ33 million cost-cutting program aimed at boosting its share price despite effectively downgrading its profit forecast..."

Language: Any Language Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue Related Links SKYCITY Adelaide Details
	Adelaide casino might be for sale 22 May 2007 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> AUSTRALIA -- As reported by the Sydney Morning Herald: "The Adelaide casino could soon be on the auction block, with James Packer's Publishing & Broadcasting Ltd likely to be the only bidder after New Zealand gaming company SkyCity Entertainment Group announced it would sell businesses that were not keeping up. "Gaming industry players Tabcorp and Tattersall's are believed to be unlikely to bid for the Adelaide casino. "...Adelaide is unlikely to attract a high price because of the lack of likely bidders and the fact that the casino is located in a heritage-listed building which is almost impossible to expand or renovate. "...SkyCity made the announcement at an update for analysts and institutional shareholders, where it also revealed a $NZ33 million cost-cutting program aimed at boosting its share price despite effectively downgrading its profit forecast..."

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Adelaide casino might be for sale