SkyCity Entertainment Expects to Take NZ$94 Million Hit on Adelaide Unit Assets

MT Newswires Live08-19

SkyCity Entertainment Group (NZE:SKC, ASX:SKC) expected to take a NZ$94.3 million non-cash hit from the carry value of its SkyCity Adelaide assets caused by the timing of reduced cashflows ahead of mandatory carded play at the site by 2026, according to a Monday filing with the New Zealand and Australian bourses.

The hotel and gaming operator is also expecting to incur a NZ$129.3 million non-cash tax adjustment following a recent change in New Zealand tax laws, the filing added.

The adjustment and impairment are not expected to impact SkyCity's underlying profits. It is set to release its annual report by Aug. 22, as per the filing.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2460726426?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-19 09:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2460726426","market":"hk","top_or_hot":-1,"title":"SkyCity Entertainment Expects to Take NZ$94 Million Hit on Adelaide Unit Assets","media":"MT Newswires Live","content":"<html><body><p> SkyCity Entertainment Group (NZE:SKC, ASX:SKC) expected to take a NZ$94.3 million non-cash hit from the carry value of its SkyCity Adelaide assets caused by the timing of reduced cashflows ahead of mandatory carded play at the site by 2026, according to a Monday filing with the New Zealand and Australian bourses.</p><p>The hotel and gaming operator is also expecting to incur a NZ$129.3 million non-cash tax adjustment following a recent change in New Zealand tax laws, the filing added.</p><p>The adjustment and impairment are not expected to impact SkyCity's underlying profits. It is set to release its annual report by Aug. 22, as per the filing.</p></body></html>","source":"mtnewswires_news","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 Entertainment Expects to Take NZ$94 Million Hit on Adelaide Unit Assets</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 Entertainment Expects to Take NZ$94 Million Hit on Adelaide Unit Assets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-19 09:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SkyCity Entertainment Group (NZE:SKC, ASX:SKC) expected to take a NZ$94.3 million non-cash hit from the carry value of its SkyCity Adelaide assets caused by the timing of reduced cashflows ahead of ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7078","symbol_name":"赌场与赌博","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2460726426","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2460726426","pubTimestamp":1724029827,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"SkyCity Entertainment Group  expected to take a NZ$94.3 million non-cash hit from the carry value of its SkyCity Adelaide assets caused by the timing of reduced cashflows ahead of mandatory carded play at the site by 2026, according to a Monday filing with the New Zealand and Australian bourses.The hotel and gaming operator is also expecting to incur a NZ$129.3 million non-cash tax adjustment following a recent change in New Zealand tax laws, the filing added.The adjustment and impairment are not expected to impact SkyCity's underlying profits. It is set to release its annual report by Aug. 22, as per the filing.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7078":"赌场与赌博","SKC.AU":"SkyCity Entertainment Group Ltd"},"translate_title":"SkyCity Entertainment预计阿德莱德子公司资产将遭受9400万新西兰元的损失","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKC.AU":0.9},"content_text":"SkyCity Entertainment Group (NZE:SKC, ASX:SKC) expected to take a NZ$94.3 million non-cash hit from the carry value of its SkyCity Adelaide assets caused by the timing of reduced cashflows ahead of mandatory carded play at the site by 2026, according to a Monday filing with the New Zealand and Australian bourses.The hotel and gaming operator is also expecting to incur a NZ$129.3 million non-cash tax adjustment following a recent change in New Zealand tax laws, the filing added.The adjustment and impairment are not expected to impact SkyCity's underlying profits. It is set to release its annual report by Aug. 22, as per the filing.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2460726426"}