Tag Archives: SkyCity

SkyCity shares fall as results show struggle to squeeze growth out of Auckland

SkyCity Entertainment Group shares fell to a seven-month low after the casino and hotel company posted an 8 percent drop in full-year profit that included weaker earnings from its Auckland business. The shares dropped 3.7 percent to $3.95 after the company reported net profit fell to $127 million in the year ended June 30, from $138.9 million, a year earlier. …

Read More »

SkyCity FY profit falls 8 percent on flat Auckland result, one-off 2012 benefits

SkyCity Entertainment Group, which has won increased gaming concessions in Auckland and Adelaide, said full-year profit fell 8 percent, missing estimates, on a flat result in New Zealand’s biggest city and one-time benefits the previous year, which weren’t repeated. Shares of SkyCity fell as much as 4.9 percent to $3.90 as soon as trading opened on the NZX, recovering to …

Read More »

Government roped in FMA chair Simon Allen to help close SkyCity deal, papers show

The government employed Financial Markets Authority chairman Simon Allen to help negotiate its $402 million convention centre-for-gaming concessions deal with SkyCity Entertainment Group. Allen, a former investment banker who has chaired the market watchdog since May 2011, took a key role in talks with the casino and hotel group, according to papers released by Ministry of Business, Innovation and Employment …

Read More »

SkyCity cleared to buy Queenstown’s Wharf Casino

SkyCity Entertainment Group, which this month agreed to build a $402 million convention centre in Auckland in exchange for regulatory concessions, has been granted approval to buy Queenstown’s Wharf Casino for $5 million. The Commerce Commission cleared the Auckland-based casino and hotel operator to buy Lasseters International-owned Otago Casinos, which will add 74 electronic gaming machines and six gaming tables …

Read More »

NZ govt, SkyCity take another 5 days on $402M convention deal

The New Zealand government and SkyCity Entertainment Group are taking another five days to finish up a deal for the casino and hotel operator to build a $402 million convention centre in Auckland in exchange for regulatory concessions. The parties have extended their negotiations for a second time, and expect the deal to be wrapped up by 11pm on July …

Read More »

NZ government, SkyCity extend deadline for deal on $402M convention centre

The New Zealand government and SkyCity Entertainment Group are giving themselves another fortnight to cut a deal on the terms for the casino and hotel operator to build a $402 million convention centre in Auckland in exchange for regulatory concessions. Both parties agreed to extend the deadline to reach a final agreement until the end of the month, after initially …

Read More »

SkyCity agrees to buy Queenstown’s Wharf Casino from Lasseters for $5 mln

SkyCity Entertainment Group has agreed to buy Queenstown’s Wharf Casino for $5 million from Malaysia’s Lasseters, adding 74 electronic gaming machines and six gaming tables to its existing operations in the resort town. The deal is subject to Commerce Commission and Gambling Commission approvals. The company moved to 100 percent ownership of Queenstown Casino in December, buying out Skyline Enterprises’ …

Read More »