NZ's SkyCity Entertainment hits record low on discounted placement, weak results

Skycity Entertainment

22/08/2025 02:56

** Shares of New Zealand's SkyCity Entertainment Group SKC.NZ fall as much as 30.7% to record low of NZ$0.7

** Shares reopened for trading after two days of halt

** Casino operator announced a NZ$240 mln ($139.51 mln) equity raising on Thursday at NZ$0.7 per share

** Share price represents 24.8% discount to last close on Tuesday

** Co also posts 42% decline in FY underlying net profit to NZ$71.5 mln

** About 12.9 mln shares change hands vs 30-day average of 755,184

** Shares down 47.4% YTD

($1 = 1.7203 New Zealand dollars)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))