SkyCity Entertainment Group Limited saw its shares surge by 7.4% on Monday, boosting its equity value by around NZ$49.6 million. As of 10:26 a.m. NZST, the stock stood at NZ$0.65, based on delayed exchange figures.
The stock rallied after FY26 results shifted attention from falling profit to asset sales, cash conversion and cost benefits.
Market open
Price: August 24, 2026, 10:26 a.m. NZST
NZX data delayed 20 minutes
The rally capitalises 71% of the FY28 benefit target. Delivery still matters.
| Underlying | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue | NZ$822.7m | NZ$825.2m | -0.3% |
| EBITDA | NZ$181.6m | NZ$233.7m | -22.3% |
| EBITDA margin | 22.1% | 28.3% | -6.2pp |
| Net profit | NZ$38.0m | NZ$71.5m | -46.9% |
| Operating cash inflow | NZ$121.7m | NZ$45.2m | +169.4% |
The asset programme equals 38%–42% of current market value. The Grand hotel agreement remains non-binding.
| Mean recommendation | BUY |
| Analysts | 4 |
| Average target | NZ$1.012 · +55.7% |
| Low target | NZ$0.800 · +23.1% |
| High target | NZ$1.500 · +130.8% |
Targets may lag the newest earnings information.
| September 2026 | NZ$74.5m office-sale settlement |
| Late 2026 | Online-casino licence decisions expected |
| FY27 | NZ$30m annualised operating benefits |
| FY27 | Leverage below 2.0× |
| FY28 | NZ$70m total benefits target |
Soft discretionary spending, Adelaide remediation costs and the May 2027 bond maturity still matter. Asset-sale delays or weak savings would reopen the funding question. The regulated online opportunity is not secured; SkyCity must win a licence before it can participate.
