SkyCity CEO Nigel Morrison Quits

SkyCity runs casino monopolies in Adelaide and Darwin in Australia, and Auckland, Queenstown and Hamilton in New Zealand. Its assets also includes restaurants and bars, luxury hotels and convention centres. SkyCity chairman Chris Moller said the board had been discussing with Morrison a succession strategy since September 2015. Both sides agreed it was the right time for a parting of ways. SkyCity has a market capitalisation of A$3 billion ($2.3 billion), with its first half results released in February posting a 30 percent rise in profit to A$71 million ($54.9 million) from the same period the year before, and a 14 percent jump in revenue to A$566 million ($438.3 million).

Morrison came to SkyCity from Hong Kong and Macau casino group Galaxy Entertainment where he was chief financial officer. He also held senior roles at Australia’s Federal Group, which operates two casinos in Tasmania, and at Crown Casino in Melbourne. SkyCity’s A$300 million ($232.3 million) expansion of the Adelaide casino – including a luxury 80-room hotel overlooking the River Torrens, gaming rooms for international VIP players and signature restaurants with renowned chefs – will begin on schedule early 2017. The company has started a global search for a replacement for Morrison. John Mortensen, CEO of the company’s New Zealand operations, will act as interim chief executive officer.