New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>SkyCity (SKC) has agreed to pay an A$21m fine in response to the South Australian Government’s independent review of the Adelaide Casino.</li><li>This was meaningfully below both the maximum fine (A$75m) and our estimate (A$50m paid in full in FY27), while the instalment structure is also favourable from a cash flow perspective (three payments of A$7m over three years).</li><li>More importantly, this outcome marks a major step towards closing out the key regulatory overhangs that have weighed on the Adelaide business.</li></ul>

SkyCity (SKC) has agreed to pay an A$21m fine in response to the South Australian Government’s independent review of the Adelaide Casino.This was meaningfully below both the maximum fine (A$75m) and our estimate (A$50m paid in full in FY27), while the instalment structure is also favourable from a cash flow perspective (three payments of A$7m over three years).More importantly, this outcome marks a major step towards closing out the key regulatory overhangs that have weighed on the Adelaide business.

SkyCity Fine-Ally a Resolution for Adelaide

Skycity Entertainment

SkyCity Fine-Ally a Resolution for Adelaide