SkyCity has now settled two of the big, overhanging issues on the stock.
One, the car park concession issue is done.
Two, AUSTRAC and SKC have jointly proposed a fine to the regulator.
That leaves the Adelaide casino licence review (which couldn’t get underway until the AUSTRAC issue was resolved) and the NZ casino licence suspension request.
We are interested in the position, and the number of “hairs” on the stock is now declining.
It did downgrade only back in December, and the stock has rallied since then (in part, due to the above two issues, but also, we think, indicating that the stock has “found a floor”).
The result is not far away, and it’ll be interesting to see what outlook comments they have.
Not for the faint of heart, sure.
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