SKC - Sky City

[carrom74]

some countries are making casinos close , a risk to be aware off.

But SKC's new online gaming platform(started last year) could help...(some non-contactable additional revenue)

[bull....]

But SKC's new online gaming platform(started last year) could help...(some non-contactable additional revenue)

not big enough compared to other bigger players

[Biscuit]

some countries are making casinos close , a risk to be aware off.

They are going to take a pretty big hit over the next months anyway. Probably best that the convention center hasn't opened. I guess they are in a position to weather the storm, they have been wasting enough shareholder's money on share buy-backs. Is on my shopping list for when there is some actual certainty.

[Snoopy]

They are going to take a pretty big hit over the next months anyway. Probably best that the convention center hasn't opened. I guess they are in a position to weather the storm, they have been wasting enough shareholder's money on share buy-backs. Is on my shopping list for when there is some actual certainty.

SKC are not in a good position, but they are in a relatively good position. Some people see SKC as a 'tourism' business. For sure tourism provides the cream. But SKC is actually a domestic business with most of the turnover coming from Aucklanders or domestic visitors, They have an analogous position with their casino in Adelaide. Furthermore the insurance payout from the convention centre fires have left them relatively cashed up. So one to keep an eye on I think, although I would say that!

SNOOPY

discl: holder

[Biscuit]

S.....Some people see SKC as a 'tourism' business.......

SNOOPY

discl: holder

Looking at their share-price chart, you would be forgiven for thinking they were an airline.

Disc: long-term holder

[bull....]

All bets are off: Casinos grind to a halt over coronavirus


https://www.washingtonpost.com/busin...closures-jobs/

dont know how sky city casino can stay open if you are not allowed large gatherings


Crown Melbourne adopts social distancing
https://www.news.com.au/finance/busi...b2773fd7a7eb49

[Snoopy]

All bets are off: Casinos grind to a halt over coronavirus

https://www.washingtonpost.com/busin...closures-jobs/

dont know how sky city casino can stay open if you are not allowed large gatherings

I think the unions are on top of this. They were in the media yesterday asking what would happen on busy nights when there are more than 500 people on the floor at Sky City Auckland. The solution to me seems obvious. They have security guards on the doors already, If too many people are inside, stop entry! When people leave, the security guard can let in a few more to replace them. I have a feeling the whole situation could be self regulating anyway, with less people wanting to go out in general. Listening between the lines, I got the impression that having 500 people on the floor was a peak event and wouldn't be an issue except for perhaps Friday and Saturday nights. If less people are gambling, then the existing staff can spend more time cleaning the slot machines and tables to keep it safe for those customers that do remain.

The article you referenced Bull is about Las Vegas, a tourist town where casinos are the sole attraction. It is a long bow to compare Auckland (or Adelaide) to Las Vegas. I wouldn't totally discount the risk though, and thanks for the reference.

SNOOPY

[bull....]

I think the unions are on top of this. They were in the media yesterday asking what would happen on busy nights when there are more than 500 people on the floor at Sky City Auckland. The solution to me seems obvious. They have security guards on the doors already, If too many people are inside, stop entry! When people leave, the security guard can let in a few more to replace them. I have a feeling the whole situation could be self regulating anyway, with less people wanting to go out in general. Listening between the lines, I got the impression that having 500 people on the floor was a peak event and wouldn't be an issue except for perhaps Friday and Saturday nights. If less people are gambling, then the existing staff can spend more time cleaning the slot machines and tables to keep it safe for those customers that do remain.

The article you referenced Bull is about Las Vegas, a tourist town where casinos are the sole attraction. It is a long bow to compare Auckland (or Adelaide) to Las Vegas. I wouldn't totally discount the risk though, and thanks for the reference.

SNOOPY

i posted another link saying crowne casino in aus is implementing social distance guild lines. it would be good if sky city came out and said how they are going to help in the fight against the virus. they are very quiet maybe profits are all they are concerned about?

[Snoopy]

i posted another link saying crowne casino in aus is implementing social distance guild lines. it would be good if sky city came out and said how they are going to help in the fight against the virus. they are very quiet maybe profits are all they are concerned about?

From the article you referenced

https://www.news.com.au/finance/busi...b2773fd7a7eb49

"Crown said on Monday it would keep gamblers apart by switching off every second gaming machine and electronic table, barring standing players at seated table games, and restricting the number of players at stand-up table games to five."

"The company will also restrict the number of patrons in its banqueting and conference facilities to 450 people "with a prescribed maximum density"."

"Crown said it has also implemented other measures at its Melbourne and Perth properties, including greater frequency of cleaning and the provision of hand sanitiser."

Very sensible precautions from Crown. I would like to see Sky City mirror these moves.

SNOOPY

[Balance]

https://www.nzherald.co.nz/nz/news/a...ectid=12317277

Steps taken by Sky City