SkyCity earnings to get kicker from Adelaide redevelopment in 2017, brokerage says

Thu, 05 Dec 2013

By Tina Morrison Dec 5 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino operator, faces a “benign earnings outlook” until the benefits show through from the redevelopment of its Adelaide casino complex in the 2017 financial year, according to Deutsche Bank/Craigs Investment Partners. SkyCity is betting on a redevelopment of its Adelaide casino, which would enable higher spending limits for some of its gaming machines as well as reduced taxes and access to an adjacent hotel, to drive future earnings. “Inclusion...

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