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SKYCITY ENTERTAINMENT GROUP LIMITED

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SkyCity Entertainment : ASX/NZX Announcement - International Business Strategic Review - 13 April 2021

04/12/2021 | 08:47pm EDT

SkyCity Entertainment Group Limited (SkyCity) advises that, following completion of a strategic review into its International Business division, the SkyCity Board has determined to permanently cease dealing with all junket operators, effective immediately, and continue to operate its International Business division under a revised operating model.

As previously indicated to the market on 78 February 2027 (as part of SkyCity's interim result announcement for the six months ended 37 December 2020), earlier this year SkyCity commenced a strategic review of its International Business division.

Under the revised operating model, SkyCity will deal directly with International Business patrons after appropriate know your customer and customer due diligence requirements are satisfied.

SkyCity will consult with its gaming regulators in New Zealand and South Australia 1n relation to its revised operating model.

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Disclaimer

SKYCITY Entertainment Group Ltd. published this content on 13 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2021 00:46:05 UTC.


ę Publicnow 2021
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Financials
Sales 2022 814 M 570 M 570 M
Net income 2022 92,7 M 65,0 M 65,0 M
Net Debt 2022 436 M 305 M 305 M
P/E ratio 2022 26,1x
Yield 2022 2,97%
Capitalization 2 445 M 1 711 M 1 712 M
EV / Sales 2022 3,54x
EV / Sales 2023 2,90x
Nbr of Employees 3 784
Free-Float 87,1%
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Number of Analysts 6
Last Close Price 3,23 NZD
Average target price 3,80 NZD
Spread / Average Target 17,7%
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Managers and Directors
Michael Ahearne Chief Executive Officer
Julie Amey Chief Financial Officer
Robert James Campbell Chairman
Glen McLatchie Chief Information Officer
Callum Mallett Chief Operating Officer
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