SkyCity Entertainment Group says in order to preserve 'headroom' with its financing covenants it has suspended dividend payments for both the 2024 and 2025 financial years; earnings guidance for current year downgraded; share price tumbles
SkyCity Cuts Profit Forecast, Suspends Dividend on Economy bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Open borders and lack of Covid-19 restrictions lifted activity although the bottom line was affected by provisions for possible penalties associated with its Adelaide casino.
The company, which operates the Auckland, Hamilton, Queenstown and Adelaide casinos, reported a net loss of $33.7 million for the six months ended December versus $77.9m in the year earlier.