SkyCity shares plunge after regulatory threat

(Image: SkyCity)

Mon, 04 Sep 2023

SkyCity Entertainment shares shed 16.4%, dropping to A$1.815 in the first hour of trade on the Australian securities exchange after the New Zealand regulator said it had applied to the NZ Gambling Commission to suspend SkyCity’s NZ gambling licence,Shares on the New Zealand exchange plummeted 16.31%, to trade at $1.95 early Monday afternoon.The Department of Internal Affairs (DIA) advised the hotel and casino operator it had applied to the commission to suspend licences across its Auckland, Hamilton and Queenstown casinos “in the ra...

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