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18 stories mentioning ASX:SKCUpdated 1d ago

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Asia

SkyCity Entertainment Group Consolidates Bank Facilities into NZ$140 Million Revolving Facility

SkyCity Entertainment Group (ASX:SKC, NZE:SKC) has extended and consolidated two existing bank facility tranches of NZ$57.5 million and NZ$80 million into a single NZ$140 million revolving credit facility, which will mature on Sept. 15, 2029, according to a Wednesday filing with the Australian and New Zealand bourses.The amended facility retains the same key terms, including pricing, demonstrating the continued support of the company's banking syndicate, per the filing.The company retains access to NZ$277.5 million in undrawn revolving credit facilities following the transaction, the filing added.The company's New Zealand shares rose by around 1% in Wednesday trading, while its Australian shares fell by about 2%.

ASX:SKCNZE:SKC
Asia

NZX Midday Sector Update: Consumer Services Soar, Utilities Sector Struggles

Consumer services stocks advanced over 3% on midday trade on Wednesday.SkyCity Entertainment Group (NZE:SKC, ASX:SKC) gained almost 9% in recent trade.The company on Wednesday said it has entered into a non-binding heads of agreement to sell The Grand Hotel as part of its asset monetization program.Meanwhile, shares of the utilities sector fell 1%.Contact Energy (ASX:CEN, NZE:CEN) drove the decline, with shares dropping 2%.

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Asia

Update: SkyCity Entertainment Group Signs Non-Binding Deal to Sell New Zealand Hotel, Shares Up 8%

(Updates to add share movement in the headline and the fifth paragraph)SkyCity Entertainment Group (ASX:SKC, NZE:SKC) said it has entered into a non-binding heads of agreement to sell The Grand Hotel as part of its asset monetization program, according to a Wednesday filing with the Australian and New Zealand bourses.The proposed transaction is subject to the completion of due diligence, execution of definitive sale documentation, and approval from New Zealand's overseas investment office, per the filing.The company expects to receive cash proceeds from the sale in late 2026 if all conditions precedent are satisfied, the filing said.The company said the proceeds will be used to repay debt and improve its financial flexibility amid current market conditions, the filing added.The company's shares rose 8% in recent Wednesday trade.

ASX:SKCNZE:SKC
Asia

SkyCity Entertainment Group Signs Non-Binding Deal to Sell New Zealand Hotel

SkyCity Entertainment Group (ASX:SKC, NZE:SKC) said it has entered into a non-binding heads of agreement to sell The Grand Hotel as part of its asset monetization program, according to a Wednesday filing with the Australian and New Zealand bourses.The proposed transaction is subject to the completion of due diligence, execution of definitive sale documentation, and approval from New Zealand's overseas investment office, per the filing.The company expects to receive cash proceeds from the sale in late 2026 if all conditions precedent are satisfied, the filing said.The company said the proceeds will be used to repay debt and improve its financial flexibility amid current market conditions, the filing added.

ASX:SKCNZE:SKC
Asia

Update: SkyCity Confirms Unconditional Sale of Commercial Properties; Shares Jump 7%

(Update to add stock movement on the Australian bourse in the third paragraph)SkyCity Entertainment Group (NZE:SKC, ASX:SKC) said the sale of its 99 Albert Street office building and Victoria Street investment properties has become unconditional, according to Friday filings with the New Zealand and Australian bourses.Mainland Capital, in partnership with Russell Property Group, has agreed to acquire the properties for NZ$74.5 million, with the transaction expected to settle on Sept. 1, the filing added.The company's New Zealand shares jumped 7% in recent Friday trade. Its shares also rose 4% in recent trading on the Australian bourse.

ASX:SKCNZE:SKC
Asia

SkyCity Confirms Unconditional Sale of Commercial Properties; Shares Jump 7%

SkyCity Entertainment Group (NZE:SKC, ASX:SKC) said the sale of its 99 Albert Street office building and Victoria Street investment properties has become unconditional, according to a Friday filing with the New Zealand and Australian bourses.Mainland Capital, in partnership with Russell Property Group, has agreed to acquire the properties for NZ$74.5 million, with the transaction expected to settle on Sept. 1, the filing added.The company's New Zealand shares jumped almost 7% in recent Friday trade.

ASX:SKCNZE:SKC
Asia

NZX Midday Sector Update: Consumer Services Stocks Rise, Producer Manufacturing Sector Struggles

Consumer services stocks advanced over 0.7% on midday trade on Wednesday.SkyCity Entertainment Group (NZE:SKC, ASX:SKC) gained almost 2% in recent trade.Meanwhile, shares of the producer manufacturing sector fell nearly 1.3%.Skellerup Holdings (NZE:SKL) drove the decline, with shares dropping over 1%.

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Asia

NZX Midday Sector Update: Consumer Services Stocks Rise, Distribution Services Sector Struggles

Consumer services stocks advanced nearly 5% at midday Wednesday.SkyCity Entertainment Group (NZE:SKC, ASX:SKC) gained almost 3% in recent trade.Meanwhile, shares of the distribution services sector fell almost 5%.Shares of Vulcan Energy (NZE:VSL, ASX:VSL) were nearly 6% lower in recent trade.

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Asia

SkyCity Entertainment Group Says AustralianSuper Reduces Stake

SkyCity Entertainment Group (ASX:SKC, NZE:SKC) received notice that AustralianSuper decreased their holdings in the company to 8.32% from 10.29%, according to a Wednesday filing with the New Zealand bourse.AustralianSuper now owns 91.7 million shares in the company, the filing said.

ASX:SKCNZE:SKC
Asia

Australian Shares Decline; BHP Group Lifts Canada Potash Project Cost to Nearly $7 Billion

Australian shares retreated further on Friday, even as oil tankers began to move around the Strait of Hormuz after a peace deal signed between the US and Iran.The S&P/ASX 200 Index dropped 0.92%, or 82.40 points, to close at 8,828.70.On Wall Street, the Nasdaq Composite rose 1.9%, and the S&P 500 was up 1.1%.Brent crude oil futures traded around $79 per barrel. Meanwhile, US Vice President JD Vance cancelled a planned trip to meet Iranian negotiators in Switzerland on Friday. The Swiss Foreign Ministry confirmed the planned talks will not take place.In company news, BHP Group (ASX:BHP) increased the estimated investment for its Jansen stage two potash project to $6.9 billion from $4.9 billion after a detailed cost and schedule review, delaying first production by two years to late fiscal 2031. Shares fell 5% on market close.SkyCity Entertainment Group (ASX:SKC, NZE:SKC) and SkyCity Adelaide entered into a nonbinding heads of agreement with the Commissioner for Liquor and Gambling in South Australia, which provides for a total fine of AU$21 million. Its shares gained 15% on close.Lastly, Electro Optic Systems Holdings (ASX:EOS) said it has secured an order of about AU$175 million for its Slinger Counter-Drone remote weapon system (RWS) to be supplied to Generation 5 Holding, with systems to be manufactured in Australia and the UAE and delivered during 2027 and 2028. Its shares closed 14% higher.

ASX 200ASX:BHPASX:EOSASX:SKCNZE:SKC
Asia

New Zealand Shares Rise; SkyCity Entertainment Enters Nonbinding Heads of Agreement with South Australia Gambling Commissioner

New Zealand shares rose on Friday as markets weighed in on the 14-point agreement between the US and Iran that finally reopens the Strait of Hormuz.The S&P/NZX 50 Index rose 0.99%, or 132.32 points, to close at 13,495.63.On Thursday, the Nasdaq Composite rose 1.9%, the S&P 500 gained 1.1%, while the Dow Jones inched up 0.1%.In domestic news, New Zealand recorded a goods trade surplus of NZ$800 million in May, compared with a surplus of NZ$1.6 billion in April, Stats NZ data showed.Also, the March quarter New Zealand gross domestic product (GDP) data showed that monetary policy easing was working, but through business investment and trade rather than the consumer, Jarden said in a note late on Thursday.In corporate news, SkyCity Entertainment Group (ASX:SKC, NZE:SKC) and SkyCity Adelaide entered into a nonbinding heads of agreement with the Commissioner for Liquor and Gambling in South Australia, which provides for a total fine of AU$21 million.Rua Gold (NZE:RGI) continued to confirm "significant" potential to expand the gold-antimony resource at its Auld Creek project in South Island, New Zealand.

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Asia

Update: SkyCity Entertainment Enters Nonbinding Heads of Agreement with South Australia Gambling Commissioner with AU$21 Million Total Fine, Shares Jump 17%

(Update to add stock movement in the headline and the sixth paragraph)SkyCity Entertainment Group (ASX:SKC, NZE:SKC) and SkyCity Adelaide entered into a nonbinding heads of agreement with the Commissioner for Liquor and Gambling in South Australia, which provides for a total fine of AU$21 million, according to a Friday Australian bourse filing.The heads of agreement seeks to record a basis to fully and finally resolve all outstanding regulatory matters arising from the independent review and the findings of the Brian Martin report. It is to be followed by a formal binding tripartite agreement between SkyCity Adelaide, SkyCity, and the state of South Australia.The total fine of AU$21 million is payable by SkyCity Adelaide in three instalments of AU$7 million, with the first due within 28 days of the tripartite settlement deed, the second within one year of the first instalment, and the third within two years of the first instalment.Further, SkyCity Adelaide's board will comprise a majority of nonexecutive directors, including the chair, who are independent of SkyCity Entertainment and related entities, by Jan. 1, 2028. SkyCity Adelaide will appoint a Chief Executive who reports to the board. It is prohibited from delegating functions and responsibilities to SkyCity Entertainment without the Commissioner's approval.SkyCity Adelaide also has an obligation to appoint an independent compliance auditor to report annually on compliance under the regulatory regime, to apply 12 months after completion of its three-year compliance transformation program, which is expected to be completed by June 2027.Its shares rose 17% in recent trading on the Australian bourse and 14% on the New Zealand bourse.

ASX:SKCNZE:SKC
Asia

NZX Midday Sector Update: Consumer Services Stocks Jump, Consumer Durables Sector Struggles

Consumer services stocks advanced nearly 5% at midday Friday.SkyCity Entertainment Group (NZE:SKC, ASX:SKC) gained almost 15% in recent trade.The company, along with SkyCity Adelaide, has entered into a nonbinding heads of agreement, along with SkyCity Adelaide, with the Commissioner for Liquor and Gambling in South Australia, which provides for a total fine of AU$21 million, according to a Friday Australian bourse filing.On the flip side, the consumer durables sector struggled, shedding almost 3%.KMD Brands (NZE:KMD, ASX:KMD) was down nearly 3% in recent trade.

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Asia

SkyCity Entertainment Enters Nonbinding Heads of Agreement with South Australia Gambling Commissioner with AU$21 Million Total Fine

SkyCity Entertainment Group (ASX:SKC, NZE:SKC) and SkyCity Adelaide entered into a nonbinding heads of agreement with the Commissioner for Liquor and Gambling in South Australia, which provides for a total fine of AU$21 million, according to a Friday Australian bourse filing.The heads of agreement seeks to record a basis to fully and finally resolve all outstanding regulatory matters arising from the independent review and the findings of the Brian Martin report. It is to be followed by a formal binding tripartite agreement between SkyCity Adelaide, SkyCity, and the state of South Australia.The total fine of AU$21 million is payable by SkyCity Adelaide in three instalments of AU$7 million, with the first due within 28 days of the tripartite settlement deed, the second within one year of the first instalment, and the third within two years of the first instalment.Further, SkyCity Adelaide's board will comprise a majority of nonexecutive directors, including the chair, who are independent of SkyCity Entertainment and related entities, by Jan. 1, 2028. SkyCity Adelaide will appoint a Chief Executive who reports to the board. It is prohibited from delegating functions and responsibilities to SkyCity Entertainment without the Commissioner's approval.SkyCity Adelaide also has an obligation to appoint an independent compliance auditor to report annually on compliance under the regulatory regime, to apply 12 months after completion of its three-year compliance transformation program, which is expected to be completed by June 2027.

ASX:SKCNZE:SKC
Asia

NZX Midday Sector Update: Consumer Services Stocks Jump, Technology Services Sector Struggles

Consumer services stocks advanced nearly 2% at midday Monday.SkyCity Entertainment Group (NZE:SKC, ASX:SKC) gained almost 1% in recent trade.On the flip side, the technology services sector struggled, shedding more than 2%.Shares of Vista Group International (NZE:VGL, ASX:VGL) fell 2% in recent trade.

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Asia

NZX Midday Sector Update: Consumer Services Stocks Advance, Financial Sector Struggles

Consumer services stocks advanced nearly 1% at midday Friday.Skycity Entertainment Group (NZE:SKC, ASX:SKC) gained nearly 1% in recent trade.On the flip side, the financial sector struggled, shedding almost 4%.Westpac Banking (NZE:WBC, ASX:WBC) shares fell nearly 5% in recent trade.

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Asia

Correction: SkyCity Entertainment Cuts Fiscal Year 2026 Underlying EBITDA Guidance to NZ$180 Million to NZ$190 Million, Initiates Further Cost Savings

(Corrects the company's fiscal year 2026 underlying EBITDA guidance range in the headline, adds the stock movement in the last paragraph)SkyCity Entertainment Group (ASX:SKC, NZE:SKC) said it now expects underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) for fiscal year 2026 between NZ$180 million and NZ$190 million, down from previous guidance of NZ$190 million to NZ$210 million, according to a Thursday New Zealand bourse filing.The guidance cut is based on trading conditions experienced since the recent fuel price increases and remains broadly consistent for the remainder of the year, the filing added.The company said it has exceeded its previously disclosed target of NZ$10 million in cost savings for fiscal year 2026 and is now initiating additional cost-saving initiatives across its operations and corporate functions, engaging external advisors to support the process.Under its asset monetization program, SkyCity has entered into a non-binding heads of agreement for the sale of the 99 Albert Street office building and investment properties on Victoria Street, with financial terms confidential, while also seeking expressions of interest from potential investors in acquiring The Grand Hotel, the filing added.SkyCity noted that the Online Casino Gambling Act 2026 comes into effect on May 1, with the Department of Internal Affairs (DIA) advising that it anticipates issuing licences from early 2027.The company's Australian shares fell 4% in recent Thursday trade, while its New Zealand shares shed about 1%. Its Australian and New Zealand shares both hit an all-time low.

ASX:SKCNZE:SKC
Asia

SkyCity Entertainment Cuts Fiscal Year 2026 Underlying EBITDA Guidance to NZ$180-NZ$190 Million, Initiates Further Cost Savings

SkyCity Entertainment Group (ASX:SKC, NZE:SKC) said it now expects underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) for fiscal year 2026 between NZ$180 million and NZ$190 million, down from previous guidance of NZ$190 million to NZ$210 million, according to a Thursday New Zealand bourse filing.The guidance cut is based on trading conditions experienced since the recent fuel price increases and remains broadly consistent for the remainder of the year, the filing added.The company said it has exceeded its previously disclosed target of NZ$10 million in cost savings for fiscal year 2026 and is now initiating additional cost-saving initiatives across its operations and corporate functions, engaging external advisors to support the process.Under its asset monetization program, SkyCity has entered into a non-binding heads of agreement for the sale of the 99 Albert Street office building and investment properties on Victoria Street, with financial terms confidential, while also seeking expressions of interest from potential investors in acquiring The Grand Hotel, the filing added.SkyCity noted that the Online Casino Gambling Act 2026 comes into effect on May 1, with the Department of Internal Affairs (DIA) advising that it anticipates issuing licences from early 2027.The company's New Zealand shares fell 2% in recent Thursday trade.

ASX:SKCNZE:SKC

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