Showing posts with label sky city. Show all posts
Showing posts with label sky city. Show all posts

Tuesday, October 30, 2018

Sky City: Turmoil in Market Brings Bargains.




You can tell in reasonably excited when i get out and write something on this here blog.

The SKC share price is close to a 1 year low.

It could go lower but at current levels of payout its paying close to a 5.5% return.

At these levels it is a steal at current prices without taking into account the huge levels of building around Sky City in New Zealand and Australia, where they operate.

Im sticking this one here on my watch-list.

What i want to know was who was buying at $4.30 levels just a few months back? 




Sky City Entertainment Group @ Share Investor

Sky City Entertainment Group Ltd: The Americas Cup
Share Investor's 2016 Stock Picks
Sky City gets the 2nd deal
Sky City Expansion: Adelaide Spreads on the Riverbank
Sky City to pay for National Convention Centre
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
SKC Convention Centre power-point slide illustrations & SKC submission to Auckland City Council
Sky City Gaming: Morningstars look at Sky City's gaming
Share Investor's Total Returns: Sky City Entertainment Group Ltd
Sky City Entertainment Group Ltd: Presentation to Macquarie Group
Morningstar Revalues Sky City Entertainment Group
Guest Post - Michele Hewitson Interview: Nigel Morrison
Failed Sky City bid for Christchurch Casino good news for Shareholders
Sky City Entertainment Group Ltd: Christchurch Casino bid falls short of Investment Criteria
Sky City Entertainment Group Ltd: Never mind the width feel the volume
Sky City Annual Meeting & 2011 - 2012 Profit Forecast
Stock of the Week: Sky City Entertainment Group Ltd
Sky City set to lose National Convention Centre bid
Sky City Entertainment Group: Australian Acquisition on the Cards?
Sky City Entertainment Group Ltd: 2010 Full Year Profit Analysis
Sky City Entertainment Group 2010 Full Year Profit Preview
Chart of the Week: Sky City Entertainment Group Ltd
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Share Investor Q & A: Sky City CEO, Nigel Morrison
Sky City Entertainment: CEO Nigel Morrison discusses 2010 HY
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser



Discuss SKC @ Share Investor Forum





c Shareinvestor 2018








Monday, June 19, 2017

Sky City Entertainment Group Ltd: The Americas Cup

Image result for sky city and america's cup

Sky City Entertainment Group Ltd [SKC.NZX]group is set to become a net benefactor of the extra spending the 2021 Americas Cup would bring if it came to Auckland. Back in 2003 when we last unsuccessfully defended the Americas Cup the benefits were about $400 million 1 2 3 in 2000's dollars.

I don't have to tell you dear readers that come Monday 26th should we wake up smell the coffee turn on the internet and find out we are the holders of the old Mug, it will be a call to our respective Hotels to book them out for a trip to New Zealand to wrestle it from our clammy hands as soon as possible.

Come on, Auckland really is the true home of the Americas Cup and that is where it will be held - whatever anyone else tells you.

In the 2 defenses we have held in Auckland Sky City has benefited directly and indirectly from the cup.

In 2000 and then again in 2003 Sky City benefited by having teams "living" in their hotel suites and gambling in their den/s of inequity.

The benefit once again of having the extra tourists here spending up large on the same things I mentioned above do not have to be spelled out.

Sky City is in the box seat with its convention centre coming online in 2019 it could the boost that is needed because we know it doesn't make money. 

With all the associated infrastructure needed it looks good for the building company's too - no not Fletcher Building dear readers they have a  negative $100 m hole in the ground right outside the TVNZ studios.   

Shares last traded at $4.41 as of today's date - you have to buy now on weakness before the 26 of June 2017.  

2021 Auckland Americas Cup?

Bring it on.





Sky City Entertainment Group @ Share Investor

Share Investor's 2016 Stock Picks
Sky City gets the 2nd deal
Sky City Expansion: Adelaide Spreads on the Riverbank
Sky City to pay for National Convention Centre
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
SKC Convention Centre power-point slide illustrations & SKC submission to Auckland City Council
Sky City Gaming: Morningstars look at Sky City's gaming
Share Investor's Total Returns: Sky City Entertainment Group Ltd
Sky City Entertainment Group Ltd: Presentation to Macquarie Group
Morningstar Revalues Sky City Entertainment Group
Guest Post - Michele Hewitson Interview: Nigel Morrison
Failed Sky City bid for Christchurch Casino good news for Shareholders
Sky City Entertainment Group Ltd: Christchurch Casino bid falls short of Investment Criteria
Sky City Entertainment Group Ltd: Never mind the width feel the volume
Sky City Annual Meeting & 2011 - 2012 Profit Forecast
Stock of the Week: Sky City Entertainment Group Ltd
Sky City set to lose National Convention Centre bid
Sky City Entertainment Group: Australian Acquisition on the Cards?
Sky City Entertainment Group Ltd: 2010 Full Year Profit Analysis
Sky City Entertainment Group 2010 Full Year Profit Preview
Chart of the Week: Sky City Entertainment Group Ltd
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Share Investor Q & A: Sky City CEO, Nigel Morrison
Sky City Entertainment: CEO Nigel Morrison discusses 2010 HY
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
Sky City Entertainment Group Ltd: Download full Company analysis
Sky City 2010 full year profit looking good
Long Term View: Sky City Entertainment Group Ltd
Sky City Entertainment: CEO Nigel Morrison discusses 2010 Half Year
Sky City Entertainment Group 2010 Interim Profit Review
Sky City to focus on Gaming
Sky City debts levels now more manageable
Insider Trading on Sky City shares
Sky City Profit Upgrade: Always on the Cards
Sky City's Current Cinema "Boom" a Horror Story in Disguise
Stock of the Week: Sky City Entertainment Group
Are Insiders selling Sky City Stock?
Sky City Entertainment 2009 Interim Result Preamble
2008 Sky City profit analysis
Sky City share offer confusing and unfair for smaller shareholders
Sky City Entertainment 2008 Full Year profit results , NZX release, 2008 full year presentation, result briefing webcast, financial statements
Sky City 2008 profit preamble
Sky City outlines a clear future plan
As recession bites Sky City bites back
Sky City Assets: Buy, sell and hold
Why did you buy that stock? [Sky City Entertainment]
Sky City Share Volumes set tongues wagging
Sky City half year exceptional on cost cutting
NZX Press release: Sky City profit to HY end Dec 2007
Sky City Cinemas no Blockbuster
Sky City Entertainment share price drop
New Broom set to sweep
Sky City Management: Blind, deaf and numb
Sky City sale could be off
Opposition to takeover
Premium for control
Sky City receives takeover bid
Sky City Casino Full Year Profit to June 30 2007
Setting the record straight
Sky City CEO resigns
Sky City Casino: Under performing
Sky City Casino 2007 HY Profit(analysis)
Sky City Casino 2007 HY Profit

Discuss SKC @ Share Investor Forum
Download SKC Company Reports




Toughen Up: What I've Learned About Surviving Tough Times

Toughen Up: What I've Learned About Surviving Tough Times by Michael Hill







Share Investor 2017

Tuesday, October 18, 2016

Sky City: Chinese Invasion?

I don't know whether the latest Chinese foray into foreigners taking business off them by Arresting 18 Aussies in China but the following is Morningstar's reaction to yesterday's news.

Do with it what you will.


Detention of Crown Employees in China Elevates Risks for All Australian and New Zealand Casinos

Chinese authorities' detention of executive vice president VIP International Jason O'Connor and 17 other Crown Resorts employees has clear negative implications for the company, as well as for Star Entertainment and SkyCity Entertainment. Unfortunately, estimating the extent of the impact is almost impossible at this stage, particularly as the reasons for the detention remain unclear.

What is clear is the elevated risk profile for all these operators' exposure to the Chinese high roller market. In fiscal 2016, 27% of Crown's normalised group revenue was generated from the VIP market, 28% for Star and 15% for SkyCity. It is no exaggeration to say that this VIP market is dominated by Chinese patrons. While margins for this segment are lower than the main floor gaming business, VIP is an important driver of all these casino companies' long-term growth plans.

Indeed, Chinese high rollers are a major plank underpinning Crown's AUD 2.0 billion Sydney casino project, Star's AUD 2.2 billion investment (across STAR Sydney, Jupiters Gold Coast, Queen's Wharf Brisbane) and SkyCity's NZD 1.0 billion capital spending (across Auckland and Adelaide).

While the latest development in China vindicates our high uncertainty ratings for the casino companies under our coverage, we have maintained their fair value estimates at this stage (AUD 14.50 for Crown, AUD 4.00 for Star, NZD 4.40 for SkyCity).

We are reluctant to make a snap judgment on the impact of the Crown employee detention on the intrinsic value that we have on all these casino operators. There will clearly be an impact on earnings if there are any tightening restrictions on how their employees can promote Australia's "tourism appeal" to Chinese high rollers without directly marketing the group's casinos. However, much of this is merely conjecture at this point and certainly forms no basis to change our moat ratings for Crown (narrow), Star (none) and SkyCity (narrow).




Sky City Entertainment Group @ Share Investor

Share Investor's 2016 Stock Picks
Sky City gets the 2nd deal
Sky City Expansion: Adelaide Spreads on the Riverbank
Sky City to pay for National Convention Centre
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
SKC Convention Centre power-point slide illustrations & SKC submission to Auckland City Council
Sky City Gaming: Morningstars look at Sky City's gaming
Share Investor's Total Returns: Sky City Entertainment Group Ltd
Sky City Entertainment Group Ltd: Presentation to Macquarie Group
Morningstar Revalues Sky City Entertainment Group
Guest Post - Michele Hewitson Interview: Nigel Morrison
Failed Sky City bid for Christchurch Casino good news for Shareholders
Sky City Entertainment Group Ltd: Christchurch Casino bid falls short of Investment Criteria
Sky City Entertainment Group Ltd: Never mind the width feel the volume
Sky City Annual Meeting & 2011 - 2012 Profit Forecast
Stock of the Week: Sky City Entertainment Group Ltd
Sky City set to lose National Convention Centre bid
Sky City Entertainment Group: Australian Acquisition on the Cards?
Sky City Entertainment Group Ltd: 2010 Full Year Profit Analysis
Sky City Entertainment Group 2010 Full Year Profit Preview
Chart of the Week: Sky City Entertainment Group Ltd
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Share Investor Q & A: Sky City CEO, Nigel Morrison
Sky City Entertainment: CEO Nigel Morrison discusses 2010 HY
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
Sky City Entertainment Group Ltd: Download full Company analysis
Sky City 2010 full year profit looking good
Long Term View: Sky City Entertainment Group Ltd
Sky City Entertainment: CEO Nigel Morrison discusses 2010 Half Year
Sky City Entertainment Group 2010 Interim Profit Review
Sky City to focus on Gaming
Sky City debts levels now more manageable
Insider Trading on Sky City shares
Sky City Profit Upgrade: Always on the Cards
Sky City's Current Cinema "Boom" a Horror Story in Disguise
Stock of the Week: Sky City Entertainment Group
Are Insiders selling Sky City Stock?
Sky City Entertainment 2009 Interim Result Preamble
2008 Sky City profit analysis
Sky City share offer confusing and unfair for smaller shareholders
Sky City Entertainment 2008 Full Year profit results , NZX release, 2008 full year presentation, result briefing webcast, financial statements
Sky City 2008 profit preamble
Sky City outlines a clear future plan
As recession bites Sky City bites back
Sky City Assets: Buy, sell and hold
Why did you buy that stock? [Sky City Entertainment]
Sky City Share Volumes set tongues wagging
Sky City half year exceptional on cost cutting
NZX Press release: Sky City profit to HY end Dec 2007
Sky City Cinemas no Blockbuster
Sky City Entertainment share price drop
New Broom set to sweep
Sky City Management: Blind, deaf and numb
Sky City sale could be off
Opposition to takeover
Premium for control
Sky City receives takeover bid
Sky City Casino Full Year Profit to June 30 2007
Setting the record straight
Sky City CEO resigns
Sky City Casino: Under performing
Sky City Casino 2007 HY Profit(analysis)
Sky City Casino 2007 HY Profit

Discuss SKC @ Share Investor Forum
Download SKC Company Reports



Toughen Up: What I've Learned About Surviving Tough Times

Toughen Up: What I've Learned About Surviving Tough Times by Michael Hill







Share Investor 2016

Thursday, February 21, 2013

NZ HERALD: Sky City and Herald answer back


SkyCity got special treatment in its pitch to build the international convention centre - but nothing which will get in the way of a formal deal being struck.

An investigation by the Office of the Auditor-General found the casino's promise to cover the $350 million cost of building the convention centre gave it a clear advantage over any other interested party.

It means the casino and executives can get back to negotiating over the casino's list of changes to the Gambling Act which it wants to trade for building the centre next to its Auckland headquarters. The casino has said it wants 300 more pokies, extra table games and an early extension to its exclusive licence.

While the report revealed SkyCity was treated "very differently" to other bidders, Prime Minister John Key said it "utterly refuted" allegations his Government had struck a "cosy deal" with SkyCity. He blamed officials for "a few procedural matters" but said there was "nothing of substance that would have changed any of the outcomes".

The process problems identified by Deputy Auditor-General Phillippa Smith emerged in the report from the time the Prime Minister - also Tourism Minister - became personally involved. In August 2009, Mr Key told officials to halt a scoping project on a convention centre proposal to "close off the SkyCity angle". He later explained he had a "broad awareness" SkyCity had development plans.

Mr Key's understanding of the casino's desire for development followed a meeting between himself and SkyCity executives although neither Mr Key or the casino "can recall the discussion" on May 14, 2009. There was also a later meeting between the casino and the Prime Minister's chief of staff Wayne Eagleson on June 17, 2009, at which development was discussed.

After the PM halted the scoping project, SkyCity met the PM's senior advisers in September 2009 who said they wanted changes to the Gambling Act which had previously stymied the casino's expansion plans by limiting the number of pokies and other games allowed.

Then Mr Key was briefed on options for the convention centre at a dinner with SkyCity board members and executives on November 4, 2009. He urged them to "think outside the box".
As the casino and Beehive moved closer together, Treasury began raising concerns about "process and probity".

Ms Smith said: "We have concerns about the apparent readiness of officials to support those discussions developing into more substantive negotiations without preparing to give advice on the Government's procedural obligations and options."

Warnings about process were conveyed to Mr Key in a briefing note on November 12, 2009.

In 2010, the Government began calling for an expression of interest from groups wanting the contract. At a meeting with officials, Mr Key said the SkyCity deal was "a good proposal".

However Ms Smith said the process "fell short of good practice in a number of respects". That included the fact ministers and officials continued to have contact with SkyCity to discuss its proposal.

Ms Smith said these meetings were "not appropriate" as it provided SkyCity with information other bidders did not receive. She also said the casino had the advantage in knowing the Government didn't plan on putting any money into the project, allowing it to shape its offer.

In September 2010, the casino put forward a list of changes to the law it wanted. It also said it wanted the Government to buy land from TVNZ to accommodate a large design for the centre.

SkyCity was announced as the preferred bidder in June 2011 with Mr Key promising changes to the Gambling Act would only come after a public submissions.

Greens co-leader Metiria Turei, who sparked the inquiry with a complaint, said the report was "hugely damning" and showed "the relationship with SkyCity was so cosy that the other proposers didn't stand a chance".

Labour leader David Shearer said: "This has had John Key's fingerprints all over it and it was a shonky deal and John Key is donkey-deep in it."

Project's boost to jobs, GDP in question

John Key announced SkyCity's selection as preferred bidder with the promise of 800 jobs on completion and 1000 jobs on construction.

The numbers contrasted with a government feasibility study which put construction jobs at 150 a year for five years - a total of 750. The number of people to be employed in the centre was also lower - between 318 and 479 jobs against 500 fulltime equivalents.

There is also question about the value of the deal to New Zealand, the Prime Minister initially saying it would increase GDP by $49 million. The Auditor-General's report stated a $72 million increase while Economic Development Minister Steven Joyce was last night saying $100 million.

The casino was refusing to comment yesterday as chief executive Nigel Morrison toured Australia with the company's half-year results. In a statement, he said he was looking forward to starting negotiations towards investing the $350 million "provided acceptable returns can be delivered on the total project".

Mr Morrison is known to have become frustrated with delays on the project, the $350 million saved for Auckland's centre recently spent in Australia, supported by both South Australia's Labor Government and Liberal opposition.

Alan Trotter, chief executive of Conventions NZ, said it had cleared the path for the deal to be struck. He said the report also revealed the Prime Minister's ability to strike deals which was to be admired. "There is no such deal as the perfect deal but it's a very pragmatic deal. The key element here is to start construction."
He said conventions of the size the centre would handle needed five to seven years' notice and marketing should begin the moment building started. The centre promised much for New Zealand and the inquiry had sent out ripples of uncertainty. "The Greens have a lot to answer for."

-David Fisher

How events unfolded

May 2009: Key meets SkyCity CEO. Key says changes to the Gambling Act did not come up.
July 2009: Ministry of Tourism and City Council complete convention centre feasibility study. Key briefed on findings and officials recommend developing business case. Officials later told of proposal being developed by SkyCity. Key tells officials to cease work and await SkyCity proposal.
September 2009: SkyCity, Ministry of Economic Development officials and Key's chief of staff discuss Gambling Act changes.
November 2009: Key has dinner with SkyCity board, discussing convention centre and possible changes to the Gambling Act.
March 2010: Cabinet decides to call for "expressions of interest" from other developers. Tender process begins two months later.
May 2011: Process closes. SkyCity, The Edge, Ngati Whatua, Infratil, and ASB Showgrounds respond.
June 2011: SkyCity wins with $350m bid. It requires no state funding but depends on changes to Gambling Act allowing more pokies and other concessions.
June 2012: Deputy Auditor- General Phillippa Smith announces investigation into tendering.
January 2013: Key sees draft report and is "not losing any sleep". The Herald reports SkyCity's plans to increase size of gaming floor.



Sky City Convention Centre @ Share Investor 

VIDEO - Sky City Entertainment Group : Parliamentary Question related to Convention Centre
Sky City to pay for National Convention Centre
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
SKC Convention Centre power-point slide illustrations & SKC submission to Auckland City Council

Sky City Entertainment Group @ Share Investor


Share Investor's 2013 Stock Picks 
Morningstar Revalues Sky City Entertainment Group 
Sky City Gaming: Morningstars look at Sky City's gaming
Share Investor's Total Returns: Sky City Entertainment Group Ltd
Sky City Entertainment Group Ltd: Presentation to Macquarie Group
Morningstar Revalues Sky City Entertainment Group
Guest Post - Michele Hewitson Interview: Nigel Morrison
Failed Sky City bid for Christchurch Casino good news for Shareholders
Sky City Entertainment Group Ltd: Christchurch Casino bid falls short of Investment Criteria
Sky City Entertainment Group Ltd: Never mind the width feel the volume
Sky City Annual Meeting & 2011 - 2012 Profit Forecast
Stock of the Week: Sky City Entertainment Group Ltd
Sky City set to lose National Convention Centre bid
Sky City Entertainment Group: Australian Acquisition on the Cards?
Sky City Entertainment Group Ltd: 2010 Full Year Profit Analysis
Sky City Entertainment Group 2010 Full Year Profit Preview
Chart of the Week: Sky City Entertainment Group Ltd
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Share Investor Q & A: Sky City CEO, Nigel Morrison
Sky City Entertainment: CEO Nigel Morrison discusses 2010 HY
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
Sky City Entertainment Group Ltd: Download full Company analysis
Sky City 2010 full year profit looking good
Long Term View: Sky City Entertainment Group Ltd
Sky City Entertainment: CEO Nigel Morrison discusses 2010 Half Year
Sky City Entertainment Group 2010 Interim Profit Review
Sky City to focus on Gaming
Sky City debts levels now more manageable
Insider Trading on Sky City shares
Sky City Profit Upgrade: Always on the Cards
Sky City's Current Cinema "Boom" a Horror Story in Disguise
Stock of the Week: Sky City Entertainment Group
Are Insiders selling Sky City Stock?
Sky City Entertainment 2009 Interim Result Preamble
2008 Sky City profit analysis
Sky City share offer confusing and unfair for smaller shareholders
Sky City Entertainment 2008 Full Year profit results , NZX release, 2008 full year presentation, result briefing webcast, financial statements
Sky City 2008 profit preamble
Sky City outlines a clear future plan
As recession bites Sky City bites back
Sky City Assets: Buy, sell and hold
Why did you buy that stock? [Sky City Entertainment]
Sky City Share Volumes set tongues wagging
Sky City half year exceptional on cost cutting
NZX Press release: Sky City profit to HY end Dec 2007
Sky City Cinemas no Blockbuster
Sky City Entertainment share price drop
New Broom set to sweep
Sky City Management: Blind, deaf and numb
Sky City sale could be off
Opposition to takeover
Premium for control
Sky City receives takeover bid
Sky City Casino Full Year Profit to June 30 2007
Setting the record straight
Sky City CEO resigns
Sky City Casino: Under performing
Sky City Casino 2007 HY Profit(analysis)
Sky City Casino 2007 HY Profit

Discuss SKC @ Share Investor Forum
Download SKC Company Reports

Recommended Amazon Reading

The Intelligent Investor: The Definitive Book on Value Investing. A    Book of Practical Counsel (Revised Edition)
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
Buy new: $14.95 / Used from: $6.99
Usually ships in 24 hours



Shareinvestor 2013