Latest Skycity News

SkyCity has appointed UBS and Chapman Tripp to run a structured process exploring potential transactions and other ways to lift shareholder value, while continuing talks with two parties whose earlier approaches were rejected. The casino operator also expects major asset sale proceeds and says cost savings are tracking ahead of plan.

SkyCity Entertainment Group turned down two unsolicited takeover proposals from Oaktree Capital and another party, citing undervaluation and onerous conditions. The company remains focused on its asset sales and operational reset.

SkyCity Entertainment Group reported a 22% drop in underlying EBITDA for FY26, impacted by regulatory costs and carded play rollout, while progressing asset sales and preparing for New Zealand's online casino market.

SkyCity Entertainment Group has signed a non-binding heads of agreement to sell The Grand Hotel, aiming to boost financial flexibility through asset monetisation and debt repayment.

SkyCity Entertainment Group has completed the unconditional sale of its 99 Albert Street and Victoria Street properties for $74.5 million, aiming to reduce debt and boost financial flexibility.

SkyCity Entertainment Group and its Adelaide arm have struck a non-binding deal with South Australian regulators to settle long-running compliance issues, including a A$21 million fine and major governance changes at the Adelaide Casino.

SkyCity Entertainment Group posted a solid half-year profit increase to NZD 12.1 million despite a slight revenue dip, bolstered by a major equity raise and a clean bill on its Adelaide casino licence.

Fletcher Building reports a stable half-year performance despite subdued markets, advancing its strategic pivot with the announced sale of its Construction division.

SkyCity Entertainment Group reported a decline in FY25 revenue and earnings but remains confident in its FY26 outlook, underpinned by cost savings and strategic initiatives.

SkyCity Entertainment Group has successfully completed a NZ$240 million equity raise through a fully underwritten entitlement offer, with retail shareholders subscribing to one-third of their entitlements. New shares will begin trading next week on both the NZX and ASX.

SkyCity Entertainment Group reports a 5% revenue decline in FY25 amid economic headwinds and elevated investments, announcing a $240 million equity raise to bolster its balance sheet ahead of the NZICC opening and online gaming launch.

SkyCity Entertainment Group has resolved a decade-long dispute over casino duty calculations with South Australia’s Treasurer, agreeing to a $38.1 million settlement that ends ongoing legal proceedings.