The Sky City carpark after the Macquarie failed acquisition with the fire and subsequently Court action - would this be available to Private equity again at the right price which would be $150 -$200 million approx - would that be in management thoughts as Sky is in the same boat as Star Entertainment - Assets rich - Cash poor . Never happy to drop dividends but probably a prudent move by management as they stated they consider Adelaide Casino a core asset of SkyCity moving forward - and it will not be sold - which I support and the majority of Sky investors IMO .I see Allen Grey and Macquarie increasing their holdings in the last few weeks - as I quote the Sydney Broker "Rene Rivkin - Doom and gloom is when one takes a position " -as SkyCity has some positive news one hopes, with the Auckland Hotel opening in weeks and with the Private American equity " circling Star" maybe they see a turnaround for earnings in the Casino sector as Jun Bei Liu alluded to this month.
SKC Price at posting:
$1.36 Sentiment: Buy Disclosure: Held
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