SkyCity sells equity investment in Gaming Innovation Group

SkyCity Entertainment Group Limited (SkyCity) advises that it has entered into an unconditional agreement to sell its entire shareholding of around 10% in Gaming Innovation Group Inc (GiG), a European-based online gaming platform provider and media services operator. The net proceeds of the sale are approximately NZ$55 million after brokerage and legal costs.

SkyCity intends to use the proceeds of the sale to pay down debt as part of its ongoing prudent approach to capital management.

SkyCity continues to have a valuable relationship with GiG through its involvement with the SkyCity Online Casino (operated from Malta). However, SkyCity has decided to divest its shareholding in GiG as it is non-core to its ongoing operations, and is now not considered strategically necessary for SkyCity.

SkyCity acquired its shareholding in GiG in April 2022 for €25 million (approximately NZ$40 million at that time).

Ends

• Market Release

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Devon Funds Morning Note - 14 October 2026
BIT - Transaction in Own Shares
PHL - Operational Update - Q2 FY27
October 14th Morning Report
MCY - Employee Share Scheme - Financial Assistance Notice
PGW - PGG Wrightson FY27 Market Guidance
TEM - Transaction in Own Shares
October 13th Morning Report
October 12th Morning Report
TEM - Transaction in Own Shares