SkyCity is considering a structured sale of the company as it continues work launching in New Zealand’s upcoming regulated iGaming market.
The New Zealand land-based casino chain has engaged bankers to seek acquisition bids for the business after it rejected two offers earlier in the year.
It follows SkyCity winning the auction for two of the country’s 15 online casino licences, which grants rights to launch one brand a piece pending a full application process.
Group chair Julian Cook said: “In the interests of shareholders, the board has decided to seek proposals through a structured process. This will involve engaging with interested parties and giving them access to some due diligence information to help them develop their proposals.
“UBS and Chapman Tripp have been appointed as investment banking and legal advisers, respectively, for this process. The board remains confident that our current strategy is robust. However, if a proposal emerges that does deliver greater value for shareholders than that strategy, the board will consider it carefully.”
Continued interest in SkyCity
The news comes after the business received two unsolicited and previously disclosed offers for the company during 2026, which the company said were non-binding, highly conditional and indicative in nature.
Each proposal was carefully considered by the board, Cook said, with input from management and its advisors. Ultimately, SkyCity concluded both were opportunistic and undervalued the business.
Since then, the company has received no further improved proposals but it remains aware of continued interest in the entire group.
Cook added: “The board remains confident that our current strategy is robust. However, if a proposal emerges that does deliver greater value for shareholders than that strategy, the board will consider it carefully.
“We are now establishing the structure for this process, which will take some time to progress. It is important to note that there is no certainty that this process will result in any transaction or offer. We will update shareholders as appropriate.”
Dingnews.com 23/10/2026