SKC - Asset Monetisation Programme Update - The Grand Hotel

SkyCity Entertainment Group Limited (SkyCity) advises that it has entered into a non-binding heads of agreement (HoA) for the sale of The Grand Hotel.

The transaction remains subject to the negotiation and execution of binding sale and purchase documentation upon satisfactory completion of due diligence. Transaction completion is also expected to be conditional on consent from the New Zealand Overseas Investment Office.

SkyCity is targeting receipt of cash proceeds upon satisfaction of all conditions precedent in late 2026. The financial terms of the HoA remain confidential at this stage.

The transaction forms part of SkyCity's previously announced asset monetisation programme. Capital proceeds received under the asset monetisation programme will be used to repay debt and provide SkyCity with greater financial flexibility to navigate current market conditions.

Ends

• Announcement

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:

BPG - Amended FY26 Annual Report and Presentation
WIN - Winton - Chris Meehan resigns as Directo
TEM - Transaction in Own Shares
WCO - Share Purchase Plan
SKT - Sky ASM and Closing Date for Director Nominations
September 11th Morning Report
MEL - Dividend reinvestment plan strike price
MKR - High Grade Gold Drill Intersections from Pipeline Ridge
KMD - ASM Date and Closing Date for Director Nominations
PCT - Sale of PwC Tower now unconditional