SkyCity chair Campbell the likely driver of surprise share buyback

Tue, 12 Feb 2019

By Nikki Mandow Feb. 13 (BusinessDesk) - SkyCity Entertainment Group investors could get a boost this year, with the company saying it will buy back 5 percent of its shares on the NZX over the course of 2019. The buyback, starting next week, would be worth $135 million at the current share price. SkyCity’s announcement came as it reported an 11.4 percent fall in first-half net profit to $82.8 million even as revenue was up 1 percent at $460.2 million. Like those of other casino operators worldwide, SkyCity's results are complicated...

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