Casino operator SkyCity sells 10% stake in Gaming Innovation Group (GiG) for $55m, using proceeds to pay down debt.

Casino operator SkyCity sells 10% stake in European online gaming platform Gaming Innovation Group (GiG) for $55m. Proceeds from the sale will be used to pay down debt as part of its capital management plan. SkyCity will continue to have a relationship with GiG through its SkyCity Online Casino, but has decided its shareholding in GiG is no longer strategically necessary.