Isn't 7 hours a day 10.00 am to 5.00 p.m. gambling on the NZX enough lol
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I was in Auckland on business this week and put up in the sky city hotels. Airport dead, town dead, everything dead.... sky casino? Pretty bloody busy. Couldn’t believe it. Predominantly Asian, pacific island, and American crowd. ATM had a line each of the times I went past over 2 days
So the Government is banning indoor gatherings of more than 100 people. Workplaces are exempt at this stage.
Does the ban apply to Skycity, or is the casino considered a workplace????
Auckland
• Visitation to the precinct down around 15%
• Electronic gaming machine revenue down 14%
• Domestic table and automated table game revenue down 43%
• Hotel revenue down 19% with average occupancy of 79%
• Food, beverage and conventions revenue down 32%
• Sky Tower revenue down 35%
Not a pretty picture.
Sold out at a loss at $3.17 as I felt it was going below $3, never expected it would go this low.
Intend to buy back but not just yet.
I am suprised this has dropped this much. Surely they easily have enough funds to see out the crisis...Worst case if they shut for 12 months, how much would this cost them? Roughly 2 billion has been shaved off their valuation. Surely shutdown would cost 200 million max for 12 months.
Sorry very rough numbers. The loss would then be able to be used in following years...