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An update from SKYCITY Entertainment Group Limited ( (NZ:SKC) ) is now available.
SkyCity Entertainment Group has revised down its FY26 earnings outlook as macroeconomic headwinds and higher fuel prices weigh on visitation and consumer spending, particularly at its Auckland and Adelaide properties. The company now expects underlying EBITDA of $180 million to $190 million and reported EBITDA of $155 million to $165 million for FY26, and is expanding cost-saving initiatives across operations and corporate functions after already surpassing a $10 million savings target.
In parallel, SkyCity is pushing ahead with its asset monetisation programme, signing a non-binding heads of agreement to sell its 99 Albert Street office building and associated Victoria Street investment properties, and seeking interest in the sale of The Grand Hotel. The group also flagged the commencement of the Online Casino Gambling Act 2026, with licences expected to be issued from early 2027, signalling a coming shift in the regulatory landscape for its online gaming activities.
More about SKYCITY Entertainment Group Limited
SkyCity Entertainment Group is a New Zealand and Australia-based casino and entertainment operator, with major precincts in Auckland, Adelaide, Hamilton, and Queenstown. Its portfolio includes gaming, hospitality, hotels, and convention facilities, positioning the group as a key player in the region’s discretionary leisure and tourism market.
Average Trading Volume: 524,974
Technical Sentiment Signal: Strong Sell
Current Market Cap: N$700.4M
For a thorough assessment of SKC stock, go to TipRanks’ Stock Analysis page.