SkyCity's big spending plans may not deliver enough to earnings, investors say

Wed, 11 Feb 2015

By Tina Morrison Feb. 11 (BusinessDesk) - SkyCity Entertainment Group, which has earmarked $800 million to expand and upgrade its Auckland and Adelaide businesses by 2020, has yet to convince investors that it will be money well spent. New Zealand's only listed casino company expects to outlay about $500 million on a 5-star hotel and convention centre in Auckland, and $300 million on the redevelopment of its Adelaide casino. In return, it has secured greater concessions on its casino operations from the government. The company's shares...

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