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Thread: SKC - Sky City

  1. #51
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    Exclamation BOTTOM in SIGHT.. & NOW THERE..

    WELL, the $3.46 bottom has been breached and still going south its noticed in Oz the share price excluding ex/rate is 5 cents lower than NZ this is a bit of a worry, The sale of Christchurch pub is a bit of a twist of assets to what advantage is not known. the dribble about Darwin Resort is pie in the SKY but off to Hamilton SKY Casino in the next week to check it out but just at the moment NO need to rush in as the price has not stopped its SLIDE..

  2. #52
    Guru Dr_Who's Avatar
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    I did have a look at SKC awhile back, but decided to not buy it. The new CEO doesnt inspire me at all. They need to appoint a new CEO with a vision before I will look at investing SKC.

  3. #53
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    of all the casinos owned by SKY I am predicting that Hamilton will have the biggest up swing in profit.
    They had the barmy army for a week ,V8s,Fieldays etc..surely must have made a difference.

  4. #54
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    Arrow Swimming Against The Tide Skc..

    WELL , not the best news as Mark Goulopoulos of Tolhurst [SYD] says SELL as the speculation
    of a potential takeover of SKY CITY fades and a disappointing 12 months performance and we are noting daily drops in price and as stated the Oz Price is 5 cents down on NZ so we had better hang fire for the MOMENT..

  5. #55
    Guru Dr_Who's Avatar
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    SKC can go much lower from here. It does tell you how bad the economy is out there when a gambling company with a monopoly barks like a dog.

  6. #56
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    Quote Originally Posted by Dr_Who View Post
    SKC can go much lower from here. It does tell you how bad the economy is out there when a gambling company with a monopoly barks like a dog.
    I am with you Dr Who.

    I know that in recession casinos actually do quite well. But something about Sky City makes me twitch. Mostly because I think the suitors have gone away and the reason they went away was because Sky City are having trouble containing their overheads which of course means lower profits.

    I would be careful with this one. Hope I am wrong. Cant talk my Bro into selling. Dont hold.

  7. #57
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    Bermuda.

    I was very excited early this year when I saw SKC sp at its low and was on my watchlist. I was more excited to see it was going to appoint a new CEO and selling the movie theaters.

    After I heard that the only strategy the CEO had was to lure high net worth big gamblers from asia, I immediately took SKC off my watchlist. A CEO with little to no strategy and a lack of vision doesnt give me any confidence. I decided this was a sell and not a buy. I was verbally abused on ST when I mention this (refer to other threat). As it shows, I am right and the sp will reflect this in the long run.

    Good luck to SKC shareholders. I am sure this pup will be a buy in the future, but not until we have a CEO that has a right mix of strategy to grow SKC.
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.

  8. #58
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    I have to say, I think this now a dog ,with very active fleas....I sold a few weeks ago but bloodied my nose

  9. #59
    Senior Member moimoi's Avatar
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    a few free shuttle buses from the suburbs should help get the punters in the door....:-)

    What i found most disappointing recently was the following in relation to the sale of the cinemas.

    ""but ultimately failed to be concluded with the party unable to achieve a
    satisfactory financing arrangement""

    So your telling me that after all this time and effort the board was dealing with a flea with no dough???

    Do they not do a bit of diligence on the buyer or what?

    Don't tell me the proposed buyer was that "holy glory investments ltd""(or whatever)...the fella operating out of his basement in blockhouse bay who tried to take over RBD a few years back....??

    shaking head unknowingly
    Moi.

  10. #60
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    Wow, the price is in free-fall. If the dividend stays around the 24c mark per year. Thats a pretty good return.

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