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:

RUA - Commencement of direct distribution from Tairawhiti
BRW - Floorscape offer not progressed
September 7th Morning Report
CVT - Comvita Limited director nominations
September 4th Morning Report
BRW - Revised offer from Floorscape Limited for 100% of Bremworth
WIN - Winton Appoints Michael Stiassny as Independent Chair
WCO - Offer of new shares to selected investors
GNE - Genesis secures additional gas to strengthen fuel portfolio
FSF - Fonterra provides update on forecast FY26 earnings