New Zealand's SkyCity Entertainment rise on $124.6 million hotel sale

SkyCity Entertainment

16/10/2026 04:20

** Shares of casino operator SkyCity Entertainment Group SKC.NZ rise as much as 4.6% to NZ$0.69, hitting their highest level since October 2
** Shares last up 3%, on track for best day since September 30, if gains hold
** Company signs deal to sell The Grand Hotel and its business assets for NZ$221 million ($124.60 million) to Eden Global Capital Private and Auckland City Collective
** About 10.2 mln shares change hands, 10.8x the 30-day average of 950,200
** Stock down 24.4% YTD including moves in current session


($1 = 1.7737 New Zealand dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)
 ((Jasmeenaraislam.Shaikh@thomsonreuters.com;))