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's (SKC) 1H24 result provided a reminder that the regulatory overhang is likely to remain for some time, with carded play to be made mandatory in its NZ properties from the start of FY26 and a material fine from the South Australian Government appearing more likely.</li><li>The result itself showed resilient performance in the face of a weakening consumer backdrop, with the company maintaining its full-year earnings guidance.</li><li>The interim dividend was the only disappointment with SKC opting to retain cash as it undertakes a capital structure review. </li></ul>

SkyCity's (SKC) 1H24 result provided a reminder that the regulatory overhang is likely to remain for some time, with carded play to be made mandatory in its NZ properties from the start of FY26 and a material fine from the South Australian Government appearing more likely.The result itself showed resilient performance in the face of a weakening consumer backdrop, with the company maintaining its full-year earnings guidance.The interim dividend was the only disappointment with SKC opting to retain cash as it undertakes a capital structure review. 

SkyCity - 1H24 — Carded After Repeated Infringements

Skycity Entertainment

SkyCity - 1H24 — Carded After Repeated Infringements