SkyCity: the most expensive complaint in NZ history?

SkyCity: the most expensive complaint in NZ history?
SkyCity Queenstown. (Image: BusinessDesk)
Brent Melville
A market reaction that saw SkyCity Entertainment slice $236 million from its New Zealand market capitalisation on Monday was sparked by a 2017 complaint by one SkyCity Auckland customer who gambled at the casino over a three-and-a-half period to early 2021.That prompted the secretary of the department of internal affairs (DIA) the regulator of the gambling sector in New Zealand, to apply to the gambling commission to temporarily stand down SkyCity's gaming licence at its Auckland, Hamilton and Queenstown properties.The share price...

More Markets

NZ sharemarket rises on back of positive news
Markets Market close

NZ sharemarket rises on back of positive news

The S&P/NZX 50 Index closed at 13,041.9, rising 276.66 points or 2.17%

Graham Skellern 22 Nov 2024
Oceania shrinks footprint, prioritises balance sheet
Property

Oceania shrinks footprint, prioritises balance sheet

Oceania has divested four aged care facilities in the space of six months.

Gregor Thompson 22 Nov 2024
The Warehouse’s plan to come back ‘with a vengeance’
Retail

The Warehouse’s plan to come back ‘with a vengeance’

Executives face tough questions at the retailer’s AGM.

Victoria Young 22 Nov 2024
Wellington's blue sky boondoggle
Infrastructure

Pattrick Smellie: Wellington's blue sky boondoggle

Is the capital's airport serious, or is Infratil just trying to pump value?

Pattrick Smellie 22 Nov 2024