SKC - Sky City

[kiora]

Say it again Sam

Nicely put.
SKC have had well-below-average 'win rates' for the past two years - maybe longer. SKC normalise their profits to account for their 'bad luck' - i.e. restates them _as if_ they'd had the theoretical win rate.
I wonder if they are being robbed by professional gamblers or cheats.
How many years of low win rates would it take before SKC did something?
Is this company badly managed?

Notably, director Treacy sold 70,000 shares at $3.78 on 1/9/14, and the stock is weak in a rising market.

Might sell mine too - copying the directors' trades is a proven successful strategy.
BTW my dividend-flow valuation (c) is 3.63.

[Balance]

Stupid woman, doesn't she realise that she is just a commodity and a resource that is needed to line the pockets of the rich. She needs to realise that SKC is not some benevolent society.

Fancy bringing her tears to a shareholders meeting, they wouldn't get it either. they only worried about earnings per share and managing resources like people is part of that equation.

Bet you Morrison and his mates just took this as a minor interruption and maybe even joked about over the champagne later on.

But one day they will get their comeuppance. The poor will one day continue their uprising against greedy corporates run by self centred fat cats with obscene pay packets who have no real sense of The real world. Maybe this brave lady might be that trigger

http://www.nzherald.co.nz/business/n...ectid=11344363

Moneymen control the world - that's the cold hard truth.

Look at the mess made by the *ankers and financial players with the GFC but they are back after being bailed out by governments and taxpayers - bonuses are bigger than before and new products are being churned out to lay the foundations for even bigger bonuses and even bigger messes.

Gotto join them, get your share and do good with your share.

[kiora]

Say it again bunter

Say it again Sam

[Beagle]

WOW - Major blowout in the estimated cost of constructing the convention centre. With this and other major capex shareholders don't need to gamble with their funds it appears SKC are doing that for them
http://www.sharechat.co.nz/article/2...by-a-fifthhtml SKC morphing into the ultimate punters stock ?

[bunter]

WOW - Major blowout in the estimated cost of constructing the convention centre. With this and other major capex shareholders don't need to gamble with their funds it appears SKC are doing that for them
http://www.sharechat.co.nz/article/2...by-a-fifthhtml SKC morphing into the ultimate punters stock ?

"...Morrison said. "However, the Crown and SkyCity will work constructively to identify additional options to address the funding of any costs over and above *SkyCity’s $402 million contractual obligation*"

Could be bad news for the taxpayer and good news for Sky.
Sky seems to have capped its expense contractually at 402m.

I wonder too if Sky quietly increased the specification, hoping the government would wind up paying for it.

[Beagle]

Any way you slice and dice this that's more uncertainty hanging over the stock and we all know Mr Market doesn't like uncertainly. Even before this announcement and possible extra SKC cost there's far too much capex coming up for my liking. I'm not convinced the balance sheet isn't going to be a bit stretched and that's leaving aside as a separate issue whether they'll get an adequate return on new funds invested. I'll avoid until the dust settles after all capex complete.

[Aaron]

SKC saying that convention centre blow out should be paid by the NZ taxpayer. About $100mill blowout. Here is an idea Nigel don't pay a dividend for a year. The 2014 dividends of $95 mill should plug the funding shortfall. Why should the NZ taxpayer stump up funds so Nigel can keep paying dividends to the shareholders. It is called investing and the return on the investment will pay back the shareholders in the future. SKC & Nigel Morrison starting to sound like scabby bludgers to me. Welfare for those who need it I say.
Disclaimer don't currently hold SKC shares and my opinion would be a lot different if I did.

[winner69]

SKC saying that convention centre blow out should be paid by the NZ taxpayer. About $100mill blowout. Here is an idea Nigel don't pay a dividend for a year. The 2014 dividends of $95 mill should plug the funding shortfall. Why should the NZ taxpayer stump up funds so Nigel can keep paying dividends to the shareholders. It is called investing and the return on the investment will pay back the shareholders in the future. SKC & Nigel Morrison starting to sound like scabby bludgers to me. Welfare for those who need it I say.
Disclaimer don't currently hold SKC shares and my opinion would be a lot different if I did.

Yes SKC have no moral fortitude and typical of what's wrong with the world and yes shareholders are greedy. SKC also have it made with a neo liberal government running the country as well. Their comeuppance will come one day.

Best summed up by Balance a few weeks ago -

Moneymen control the world - that's the cold hard truth.

Look at the mess made by the *ankers and financial players with the GFC but they are back after being bailed out by governments and taxpayers - bonuses are bigger than before and new products are being churned out to lay the foundations for even bigger bonuses and even bigger messes.

Gotto join them, get your share and do good with your share.

[Jay]

Heard a commentator the other day saying that he has never known a Quantity Surveyor to come in below budget, usually way on the conservative side, that is adding a few extra $ here and there round it up etc etc..
So maybe not as much as they think and/or is Nigel trying to see how far he can push the envelope

Good share to be out of at present me thinks

[Beagle]

http://www.nzherald.co.nz/nz/news/ar...ectid=11378108

Shaping up as a messy bun-fight.
As an Auckland ratepayer I for one am sick and tired of paying for facilities I never use. I suggest Joyce and Brown tell Morrison to fund it themselves or pull the plug and revoke the extension to SKC gaming licence and facilities at the same time. I honestly reckon with all SKC's other capex they could do without this convention centre and I'm not convinced Auckland needs it anyway. There's enough of then around already. To those that argue that Auckland needs a world class convention centre I say why ? central Auckland is over-crowded already.