SkyCity's $300m insurance cheque offset by impairment charge

Thu, 20 Aug 2020

SkyCity has revised its earnings guidance as it expects a better insurance payout from the Auckland international convention centre fire to be partly offset by an impairment charge on its Adelaide casino.The casino and hotel operator said it will report higher earnings for the 12 months to June 30 as a result of more favourable estimates for the insurance pay out for the damage to the partially built International Convention Centre and Horizon Hotel, which suffered a major fire last year.However, this bonus will be offset by a proposed $16...

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Politics

Govt reshuffle: Lee demoted, Simmonds loses portfolio

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