Photo / SuppliedCasino giant SkyCity Entertainment Group wants to raise $125 million via a bond issue and says earnings will be well below pre-pandemic levels. "Accordingly SkyCity is unable to provide formal earnings guidance at this time. S&P Global Ratings said SkyCity would use the money raised to pay down drawings on its bank facilities. "We view SkyCity's Auckland casino to be the highest quality asset in its portfolio and a key driver of the group's performance. Furthermore, SkyCity holds exclusivity licenses in Auckland until 2048, helping it to maintain its market share.

Source: New Zealand Herald April 30, 2021 00:51 UTC