Sky City shares drop to year-low as 1Q revenue declines

Thu, 20 Oct 2016

By Tina Morrison Oct. 21 (BusinessDesk) - Shares in SkyCity Entertainment Group dropped to a year-low after the casino operator posted weaker first-quarter revenue due to lower gaming and high-roller activity in Auckland, difficult trading conditions in Darwin, and the higher level of the kiwi dollar against the Aussie. Revenue slipped 1.3 percent to $260.7 million in the three months ended Sept. 30 compared with the same period a year earlier, the Auckland-based company said in a statement. On a normalised basis, which adjusts the high-r...

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