SkyCity - Know When to Hold'Em; Up to OUTPERFORM
The key risk to our investment case is the balance sheet, with our estimate of net debt to EBITDA in FY26 at c.3.5x, versus a debt covenant of 3.75x.
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SkyCity (SKC.NZ) - Filing Legal Proceedings Against Fletcher Building for NZICC
SkyCity (SKC) is taking legal action against Fletcher Building (FBU) for significant delays and losses related to the New Zealand International...
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SkyCity - Gambling on a Change of Government
We expect SkyCity (SKC) would be a beneficiary of the National Party's (National) policy to regulate online casino operators from the beginning of...
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SkyCity - Losing Streak
SkyCity (SKC) has issued its third downgrade of FY25 earnings guidance, with underlying EBITDA expected to be ~4% below the previous range of...
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Sky TV - 1H25 Result—Moderately Messy
Sky TV (SKT) reported a soft and relatively messy 1H25 result, as expected. Guidance for FY25 was moderately reduced, but the midpoint aligned with...
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