Skycity Makes Important Step with Asset Sales

Dow Jones

Jul 20

0100 GMT - Casino operator SkyCity Entertainment has taken time to realize value from its property portfolio. The plan was first outlined in February 2025. Now, SkyCity is selling properties at 99 Albert Street and Victoria Street for NZ$74.5 million. Forsyth Barr estimates it reduces pro-forma FY 2026 net debt to Ebitda by 30 basis points. Still, analyst Paul Laxton Koraua says it's "an important step toward easing market concerns on the execution of its asset sale program and supporting the removal of S&P's negative watch on its credit rating." The next meaningful potential sale is The Grand Hotel in Auckland. Forsyth Barr estimates it could fetch NZ$200 million-NZ$250 million. It has an outperform call on SkyCity, which is up 0.9% at NZ$0.575. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 19, 2026 21:00 ET (01:00 GMT)

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The plan was first outlined in February 2025. Now, SkyCity is selling properties at 99 Albert Street and <a href=\"https://laohu8.com/S/VCCTF\">Victoria</a> Street for NZ$74.5 million. Forsyth Barr estimates it reduces pro-forma FY 2026 net debt to Ebitda by 30 basis points. Still, analyst Paul Laxton Koraua says it's \"an important step toward easing market concerns on the execution of its asset sale program and supporting the removal of S&amp;P's negative watch on its credit rating.\" The next meaningful potential sale is The Grand Hotel in Auckland. Forsyth Barr estimates it could fetch NZ$200 million-NZ$250 million. It has an outperform call on SkyCity, which is up 0.9% at NZ$0.575. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 19, 2026 21:00 ET (01:00 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Skycity Makes Important Step with Asset Sales</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSkycity Makes Important Step with Asset Sales\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-07-20 09:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0100 GMT - Casino operator <a href=\"https://laohu8.com/S/SKC.AU\">SkyCity Entertainment</a> has taken time to realize value from its property portfolio. The plan was first outlined in February 2025. Now, SkyCity is selling properties at 99 Albert Street and <a href=\"https://laohu8.com/S/VCCTF\">Victoria</a> Street for NZ$74.5 million. Forsyth Barr estimates it reduces pro-forma FY 2026 net debt to Ebitda by 30 basis points. Still, analyst Paul Laxton Koraua says it's \"an important step toward easing market concerns on the execution of its asset sale program and supporting the removal of S&amp;P's negative watch on its credit rating.\" The next meaningful potential sale is The Grand Hotel in Auckland. Forsyth Barr estimates it could fetch NZ$200 million-NZ$250 million. It has an outperform call on SkyCity, which is up 0.9% at NZ$0.575. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 19, 2026 21:00 ET (01:00 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SKC.NZ","symbol_name":"SkyCity Entertainment Group Limited (NS) Ordinary Shares","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2652630732","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2652630732","pubTimestamp":1784509200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0100 GMT - Casino operator SkyCity Entertainment has taken time to realize value from its property portfolio. The plan was first outlined in February 2025. Now, SkyCity is selling properties at 99 Albert Street and Victoria Street for NZ$74.5 million. Forsyth Barr estimates it reduces pro-forma FY 2026 net debt to Ebitda by 30 basis points. Still, analyst Paul Laxton Koraua says it's \"an important step toward easing market concerns on the execution of its asset sale program and supporting the removal of S&P's negative watch on its credit rating.\" The next meaningful potential sale is The Grand Hotel in Auckland. Forsyth Barr estimates it could fetch NZ$200 million-NZ$250 million. It has an outperform call on SkyCity, which is up 0.9% at NZ$0.575.  Dow Jones NewswiresJuly 19, 2026 21:00 ET Copyright  2026 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SKC.NZ":"SkyCity Entertainment Group Limited (NS) Ordinary Shares","BK8036":"赌场与赌博","BK7078":"赌场与赌博","SKC.AU":"SkyCity Entertainment Group Ltd"},"translate_title":"天空之城在资产出售方面迈出重要一步","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKC.NZ":0.9,"SKC.AU":0.9},"content_text":"0100 GMT - Casino operator SkyCity Entertainment has taken time to realize value from its property portfolio. The plan was first outlined in February 2025. Now, SkyCity is selling properties at 99 Albert Street and Victoria Street for NZ$74.5 million. Forsyth Barr estimates it reduces pro-forma FY 2026 net debt to Ebitda by 30 basis points. Still, analyst Paul Laxton Koraua says it's \"an important step toward easing market concerns on the execution of its asset sale program and supporting the removal of S&P's negative watch on its credit rating.\" The next meaningful potential sale is The Grand Hotel in Auckland. Forsyth Barr estimates it could fetch NZ$200 million-NZ$250 million. It has an outperform call on SkyCity, which is up 0.9% at NZ$0.575. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 19, 2026 21:00 ET (01:00 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}