Sky City may return cash on asset sale

Casino operator Sky City Entertainment Group Ltd said today it would probably return cash to shareholders if it sells its Adelaide casino.

The company, which is being scrutinised by a potential bidder, is pressing ahead with a programme of asset sales despite declaring it is open to takeover offers.

"If we also sell the Adelaide casino I think we would give some money back to shareholders," executive director Elmar Toime told the CNBC television channel.

Sky City shares last traded up 2 cents, or 0.4 per cent, at $5.32, having traded between $4.05 and $5.56 over the past 12 months.

- REUTERS