SKC - Sky City

[babymonster]

yeah, that's my feeling that the profit will be disappointing..

[janner]

...and this afternoon Deutsche Bank says sell.

http://www.nzherald.co.nz/business/n...ectid=11395891

So I did.

Deutsche Bank know all about indebtedness..

‘Deutsche Bank’s derivative debt is greater than the global economy. That is one bank. $72 trillion in derivative exposure. The entire global economy, all the countries in the world is only $66 trillion GDP’.

[Beagle]

yeah, that's my feeling that the profit will be disappointing..

They'll be okay after they normalise the result for unusually low win percentage, unfavourable trading conditions, (so hot everyone went to the beach) and adverse visitation caused by adverse publicity about their convention centre fiasco

[winner69]

NPAT down 10% but normalised only down a fraction

Those horrible greedy (sneaky / smart) international punters still winning more than they should. A $10m adjustment shown in their reconciliation between reality and theory

Love it

[winner69]

Shareholders still should be happy that the dens of iniquity make heaps of money

Oh sorry I don't get it ...like the new set of ads tell the are really into the feeding / dining business .....and do heaps of good stuff for the community in an attempt to say they good guys.

[bunter]

Another mediocre result with low win%, as predicted.

The 10c div is fully unimputed.
So the gross div is the same as 2014, and less than 2013.

If SKC can't do well now, when will they?

Glad I sold.

[Beagle]

Woof woof, the dividend hounds will be barking mad that there's no imputation credit and only 25% imputation planned for the 2015 final divvy. A little while back SKC were touting themselves as a good yield story. Talk about a kick in the guts. Paying out 10cps unimputed when real EPS, (before all their creative excuses) is only 9.3 cps when the company has a massive amount of capex coming up looks like a really questionable dividend policy to me. Who are they trying to kid and what's the point of previously touting yourself as a yield investment knowing imputation credits were running out. Tut tut, poor form by the Directors in my opinion.

[bunter]

This was interesting
"...Actual win rate for the month [Jan] of 3.84% resulting in a win rate of 1.50% for the seven months ended 31 January.."
Have SKC spotted a problem and fixed it? Or is it just a random fluctuation.

Would like to know what the month-to-month win rate is (SKC seem to know).

In the 'watch' pile for now.

[Beagle]

First quarter win rate from memory was outstanding so second quarter must have been a real shocker. January, who knows...any way you slice and dice this thing with expected "unfiddled" EPS of about 20 cps for the year that puts this no present growth and very low prospective growth sin stock on a forward PE of about 19 with massive capex to come and a slightly stretched balance sheet...what's to like ?...any wonder the brokerages have a sell rating on it !!

[Biscuit]

...any wonder the brokerages have a sell rating on it !!

Reuters survey of analysts has an average rating of "hold", but I agree there's little there to get excited about in the near future. I sold down a while ago but still hold. One of the few holdings you can get in the sin sector in NZ.