SkyCity Shares Fall

21 Aug 2006

NEW ZEALAND – As reported by Bloomberg: "Shares of Sky City Entertainment Group Ltd., New Zealand's largest casino company, had the biggest drop in five months after the company said earnings at its main Auckland unit unexpectedly declined.

"Sky City's shares fell 4.1 percent. The company posted a 3 percent drop in earnings before interest and tax at its Auckland casino, hotel and conference center, Sky City's biggest unit. The company reported a 31 percent gain in second-half net income.

"A drop in consumer sentiment may be hurting spending at Auckland casino, which accounts for 67 percent of Sky City's earnings, Chief Executive Officer Evan Davies said today. New Zealand consumer confidence fell in August from a 10-month high after the central bank said it is unlikely to cut interest rates soon from a record high, according to a poll released last week.

"…Shares in Sky City dropped 22 cents to NZ$5.15 as of 11:12 a.m. in Wellington trading. The shares fell 4.3 percent on March 24…"

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	SkyCity Shares Fall 21 Aug 2006 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> NEW ZEALAND – As reported by Bloomberg: "Shares of Sky City Entertainment Group Ltd., New Zealand's largest casino company, had the biggest drop in five months after the company said earnings at its main Auckland unit unexpectedly declined. "Sky City's shares fell 4.1 percent. The company posted a 3 percent drop in earnings before interest and tax at its Auckland casino, hotel and conference center, Sky City's biggest unit. The company reported a 31 percent gain in second-half net income. "A drop in consumer sentiment may be hurting spending at Auckland casino, which accounts for 67 percent of Sky City's earnings, Chief Executive Officer Evan Davies said today. New Zealand consumer confidence fell in August from a 10-month high after the central bank said it is unlikely to cut interest rates soon from a record high, according to a poll released last week. "…Shares in Sky City dropped 22 cents to NZ$5.15 as of 11:12 a.m. in Wellington trading. The shares fell 4.3 percent on March 24…"