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bullish
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.
What is covered in the Full Insight:
- Upgrade Rationale and Investment Thesis
- Valuation Framework Adjustments
- Property Portfolio and Deleveraging Strategy
- Earnings and Compliance Investment Impact
- Risks and Potential Catalysts
SUMMARY
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Full Insight
(Paid Plans Only, 37-minute read)
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Forsyth Barr
New Zealand Professional Investment Services Firm
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- SkyCity - Know When to Hold'Em; Up to OUTPERFORM29 Jul 2025
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