NZ's SkyCity Entertainment falls on lower HY results, forecast

Skycity Entertainment

20/02/2025 03:16

** Casino group SkyCity Entertainment's  SKC.NZ  shares fall
8.2% to NZ$1.34, hitting their lowest level since November 6
    ** Co logs HY net profit of NZ$6 million ($3.42 million),
down 73% Y/Y, citing interest costs arising from resolution of
long-standing gaming duty matter with Revenue South Australia
    ** Also trims underlying group EBITDA forecast to NZ$225
million-NZ$245 million for FY 2025, from NZ$245 million-NZ$265
million
    ** Stock fell as much as 9.9% to NZ$1.315 earlier
    ** More than 3.5 million shares change hands, 8.3x the
30-day avg
    ** Stock down 6.9% YTD, including current session's moves

($1 = 1.7535 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))