2236 GMT - SkyCity Entertainment is right to put its casino precinct in Adelaide under review, signals Forsyth Barr. "We think the divestment of Adelaide would be taken well by the market considering we calculate it has delivered A$420 million of cumulative net cash losses for SkyCity through its 25 years of ownership," analyst Paul Laxton Koraua says. An analysis of recent M&A transactions in the industry suggests there's demand for regional Australasian casino assets. Forsyth Barr says Iris Capital has been the most active in recent years. Iris Capital bought Cairns Casino for A$193 million, while purchasing Christchurch Casino from Skyline for NZ$102 million.