Sky City Entertainment is betting $220 million that owning Darwin's only casino will pay off. - 2004-02-11
The casino operator said yesterday it had consented
to purchase the MGM Grand Darwin casino from Las
Vegas-based MGM Mirage for $A195 million ($NZ220 million), funding the deal with a fresh loan from its current bankers.
Analysts have been waiting to see how much Sky City was willing to pay for the Australian casino since the company revealed it was in negotiations with MGM Mirage last month. Their verdict? Not cheap – but not too expensive either.
Read the full story at Stuff.co.nz