News

SkyCity Faces Higher Duties, Cuts Dividend

SkyCity faces increased duties after a tax misunderstanding in South Australia, impacting dividends and earnings forecasts. Details here: https://lnkd.in/gmQUU6KF

June 6, 2024

Simon Rowles

Founder, CEO

New Zealand based SkyCity Entertainment Group operates casinos across New Zealand and Australia. They've warned they expect to pay more duties after South Australia's Supreme Court found it had incorrectly understood its tax obligations because of the way its loyalty program operated. It's suspended dividends and earnings will be worse than forecast.

Loyalty Central is a unit of Ellipsis & Company; the loyalty experts.
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