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 Entertainment Group Limited (SkyCity) advises that SkyCity Casino Management Limited (SCML) has reached an agreement with the Department of Internal Affairs (DIA) to resolve the civil penalty proceedings commenced in February 2024
As part of the settlement agreed to by both parties, SkyCity has admitted to all five causes of action in DIA’s statement of claim. SkyCity has also agreed to pay a penalty for the breaches.