SkyCity's share plunge dominates NZ sharemarket

The threat of regulatory action over problem gambling led the market down. (Image: NZME)

Mon, 04 Sep 2023

SkyCity Entertainment dampened the New Zealand sharemarket by tumbling more than 13% after becoming embroiled in more regulatory action.The S&P/NZX 50 Index closed down 15.69 points or 0.14% to 11,513.04 on steady trading of 30.82 million shares worth $93.02m. There were 63 gainers and 73 decliners on the main board.SkyCity fell 31c or 13.3% to $2.02, with 4.89m shares worth $9.77m changing hands.The Internal Affairs Department has told SkyCity that it is making an application to the Gambling Commission to suspend the casino operator’...

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