Thursday 7. April, 2016

SkyCity Casino Boss Resigns Ahead of Adelaide Casino Upgrade

The chief executive of SkyCity, Nigel Morrison, has announced his resignation after eight years in the position. The company has guaranteed that Morrison’s resignation will not impact the company’s $300 million redevelopment of their Adelaide Casino which is scheduled to start early next year.

According to SkyCity chairman, Chris Moller, Mr Morrison has been discussing plans for his resignation since last September and it was decided that he will step down effective from April 29.

“Nigel has done an excellent job,” stated Mr Moller. “During his tenure he has secured the extension of the company’s exclusive casino licenses in Auckland and Adelaide.”

The Adelaide expansion will cost $300 million and include an 80-room luxury hotel, restaurants and high-end gaming rooms. The building experienced some delays related to the approval of Walker Corporation’s Festival Plaza development and the 1,560-space underground parking garage which is required for the casino expansion.

SkyCity will search for a replacement for Morrison, but the company’s New Zealand chief operating officer, John Mortensen will hold the position in the interim.

On the same day as Morrison announced his resignation, a report was released that the company was looking to sell its Darwin Casino; however this claim has been rejected by SkyCity.

The Australian Financial Review said in its column that the company was “understood to have approached strategic investors in March to gauge market interest in a handful of its assets including its underperforming Darwin Casino, one of its Auckland hotels and several car park facilities.”

The company has denied this claim stating, “SkyCity Darwin is an important part of SkyCity’s portfolio and we are not contemplating selling it.” They have however expressed interest in selling their Hobson Street Hotel in Auckland, but while the sales process is progressing, there is no news yet.


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