Analysis of Viva Leisure, Skycity, Life360
Fund Manager Chris Pedersen discusses Viva Leisure, Skycity Entertainment Group and Life360.
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SkyCity Entertainment Group Limited (“SkyCity” or “SkyCity Group”) is New Zealand’s largest tourism, leisure and entertainment company with an iconic status. It is listed on both the New Zealand (NZX) and Australian (ASX) stock exchanges under the ticker code ‘SKC’.
As one of three major publicly listed casino operators in Australasia, SkyCity operates integrated entertainment complexes in New Zealand (in Auckland, Hamilton and Queenstown) and in Adelaide, Australia. In addition to casino gaming facilities at each of its complexes, SkyCity also offers premium restaurants, bars and conference facilities which appeal to both domestic and international visitors alike. Additionally, SkyCity offers award-winning hotel accommodation in Auckland. SkyCity employs over 5,000 staff across its operations in New Zealand and Australia, with around 3,500 of them based at its flagship property in Auckland across 200+ job types. Upon completion of the New Zealand International Convention Centre and Horizon Hotel projects in Auckland and the A$330 million expansion project in Adelaide (both due for completion in 2020), SkyCity’s workforce will significantly increase in size.
Fund Manager Chris Pedersen discusses Viva Leisure, Skycity Entertainment Group and Life360.
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SkyCity Entertainment Group has had a difficult 2024, as the company reported a net loss of $143.3 million for the year ending June 30. A significant portion of this loss comes from an $94.3 million impairment on its Adelaide assets, as well as a tax adjustment of $129.6 million, following changes in New Zealand’s tax legislation?
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As expected, Kiwi casino group SkyCity (ASX:SKC) has reported a significant loss for the 2024 financial year, following a series of one-off charges related to the value of its businesses in Adelaide and Auckland.
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Kiwi casino operator SkyCity Entertainment (ASX:SKC) has warned of an estimated $86.2 million impairment charge on its Adelaide operation. The company has also increased its debt capacity to weather what it expects to be a tough year ahead.
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Shareholders in the Trans-Tasman casino group SkyCity Entertainment (ASX:SKC) will bear the costs of the slowdown in business and gambling at its casinos in Auckland and Adelaide by missing out on three dividend payments over the next 18 months.
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New Zealand-based casino group SkyCity (ASX:SKC) has informed both the NZX and ASX that it faces the possibility of losing its casino licences in the country for a period of 10 days.
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SkyCity's Adelaide casino is the latest to face court action over alleged non-compliance with anti-money laundering and counter-terrorism financing laws.
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It was a very busy Monday for AUSTRAC, the country’s main financial intelligence group, which has launched separate investigations into four ASX-listed companies.
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Macquarie retains its Outperform rating with the price target rising to NZ$4.05 from NZ$3.75.
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Operating earnings in FY20 were ahead of Credit Suisse estimates. The fourth quarter was supported by strong domestic gaming in Auckland and Hamilton.
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The COVID-19 pandemic, lockdowns, and bans on international travel have hit the annual results of yet another gambling company. Australia and NZ casino operator SkyCity Entertainment revealed on Thursday that coronavirus lockdowns had hit earnings hard in 2019-20, forcing the company to write down the value of its Adelaide casino.
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