SkyCity scraps guidance and shuts Adelaide casino; shares hit all-time low

Mon, 23 Mar 2020

SkyCity Entertainment Group has withdrawn its annual earnings guidance as it shuts down its Adelaide Casino and prepares to close its New Zealand operations.Shares in the casino operator plunged to an all-time low $1.25 this morning, and were recently down 17.1 percent at $1.26, valuing the company at $840.7 million. Today, the casino operator said it will close its Adelaide operations by noon Australia time following the federal government’s announcement to lockdown clubs, pubs, cinemas, casinos, nightclubs and places of worship. The casi...

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