Delaware North Acquires Skycity Darwin

Delaware North Acquires Skycity Darwin

Delaware North, the US gambling giant, has completed the acquisition deal of the Skycity Darwin casino. The deal was already finalized in April; however, it is now complete, and Delaware north has now expanded its portfolio adding 600 EGTs and over 30 table games.

Skycity CEO, Graeme Stephens said that they were happy with the acquisition deal. “The sale is consistent with our strategy to sell certain non-core assets and to allocate capital to assets and businesses which we feel are better aligned with our long-term strategic objectives,” he added.

Following the deal, Delaware North now has bought the 100 percent shares of the Skycity Darwin Pty Limited. However, SkyCity will have the ownership of the Little Mindil gambling facility and will also have control of VIP and premium gaming offers at the gambling venue for two more years.

There were some concerns amongst the Delaware analysts as the Skycity Darwin’s profits declined in 2017. It was reported that the decline was growing competition due to more gaming machines in the region. However, the company recovered its earnings jumped in 2018.

Delaware co-CEO Lou Jacobs said, “Australia has been a second home for Delaware North for 30 years. We are thrilled to have grown our business into a diversity of operations across the country.”

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