NZ's SkyCity Entertainment sinks to record low after cutting FY26 profit forecast

Skycity Entertainment

01/05/2026 02:40

** SkyCity Entertainment SKC.NZ shares slide as much as 3.9% to a record low of NZ$0.610, marking their steepest intraday fall since March 16

** Casino operator trims FY26 underlying EBITDA forecast to NZ$180 million-NZ$190 million ($106.25 million-$112.16 million), down from prior guidance of NZ$190 million- NZ$210 million

** Says outlook assumes hiked fuel price to be holding through FY26, though heightened macro uncertainty leaves guidance vulnerable to any further deterioration

        ** Says macroeconomic headwinds weighing on discretionary spending in New Zealand and Australia, clouding the trading outlook for the rest of FY26

** SKC on track for a ninth straight weekly drop, down 3.8% so far

($1 = 1.6941 New Zealand dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))