http://nzx-prod-s7fsd7f98s.s3-websit...201/320261.pdf
Good to see SKC taking action to 'right-size' its expenses base during the lockdown and for post the lockdown.
Acceptance that it is going to take a while for the business to recover.
Printable View
http://nzx-prod-s7fsd7f98s.s3-websit...201/320261.pdf
Good to see SKC taking action to 'right-size' its expenses base during the lockdown and for post the lockdown.
Acceptance that it is going to take a while for the business to recover.
Sold back what I bought in March, today. The sp has bounced up quite well and there is still a hard road ahead for them I reckon. Level 3 is not going to help them I don't think. Things are going so well in NZ with getting on top of COVID-19 everyone has got their rose-tinted glasses on i think.
Sold mine too. Even in level 3 i doubt they will be open and going by the media reports, the unions will be hunting down the management- the way the staff have been fired without any consultations... Tough going for SKC for sure...(NZICC fire seems just a smoke if compared with the present scenario)
SKC looking to do an AIR, good for a quick trade
I agree skc needs a capital raising
$1b wiped from SkyCity - dividend suspension, capital raising forecast
https://www.nzherald.co.nz/business/...ectid=12330260
Hmmm, they had over $400m liquidity and they are burning through about $20-$30m a month. So they should be all good for a wee while. Long term this IS a good value play, hence the share price movement. Theyll be back to paying 20-15c pa dividends in a year or two :)
Sobering.
https://www.nzherald.co.nz/business/...ectid=12330899
"Casino operator SkyCity Entertainment Group has revealed "incredibly difficult" plans to slash another 700 jobs which a union says is mainly in Auckland and almost a third of the approximately 3000 part and full-time jobs there.
The company is blaming "weaker economies, lower personal disposable income, changed entertainment habits, restrictions on mass gatherings and physical distancing requirements" and long-term travel restrictions for the decision."