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SKC - Skycity Entertainment Group

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SkyCity Entertainment Group (SKC) operates gambling and entertainment complexes in Australia and New Zealand. SKC has casinos in Auckland, Hamilton, Queenstown, Adelaide and Darwin. They also operate a variety of restaurants, bars, hotels and convention centres. During Nov 2009 SKC entered into an agreement to sell their cinema business to Amalgamated Holdings Limited.

http://www.skycityentertainmentgroup.com
 
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After reading this article below, I looked at the casino stocks SKC and CWN.

http://www.fool.com.au/2014/04/23/can-you-profit-from-australias-3-best-casino-stocks/

Usually, stocks in the same industry should be moving in the same direction. SKC is trading super up, CWN is trading down. Anyone knows why the difference? Actually, I am expecting SKC to be down as well. Elsewhere in the world, casino stocks are down due to China government clamping down on corruption.

Why is SKC so strong today when everyone else is not?
 
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There's been an unsubstantiated rumour doing the rounds to the effect that SKC might be the subject of a takeover bid. No evidence there that I can see but the old "buy the rumour" gets the shareprice going!
 
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You'd think they'd be jumping for joy after what happened to cwn's insanely naive strategy of laundering money for officials on the wrong side of Xi has played out it's terrifying hand.
Amazing that the Chinese even waited for a CWN top gun to be in the country when they did it so they could get him to.

What Chinese high roller would want to launder his money in any CWN Casino now? It's the last place they would want to go.
It was all just a little bit too easy a little bit too good to be true. People still don't get China.

Meanwhile, all the other Casinos will be pulling out their non Chinese staff and burning all the evidence.
You'd think SKCs ambitious investments in Adelaide would be looking up (if anyone ever wanted to go there) as Australia is closer than Vagus and their not going to CWN!

SKYCITY does not have an office in China or any China based employees, but does engage independent contractors in China who help manage customer relationships from time to time SKYCITY is confident (BS there are no laws that anyone can follow and be safe, it's designed so everyone is over a barrel) that its contractors comply with all relevant laws and regulations in China
:rolleyes: That's how you do it!!

But soft numbers today didn't go down well. The biggest one day plunge for 20 years for this stock.
 
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I looked at recent statement with a financial performance figures on the south.
The market dived and probably it will be an opportunity for me to gamble on gambling share.
What I did like with SKC report that the board came on front foot than facing the ball on back foot (sorry folks who do not like Cricket) . SKC has been upfront to provide confidence to investors how they are different from CWN and how prudent their risk management. Adelaide $700 M is a big one but they hired competent people for that. They hired a senior manager.
What could be concerning along with profit plunge to loose two senior managers. Good thing however they will be with the company until Jan 2017 giving plenty opportunity for hand over.
I will be tempted to put some hard earned money if it further goes south by another 5 % on Monday / Tuesday and until then on side line.
Do not hold yet but got interested.
 

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You'd think they'd be jumping for joy after what happened to cwn's insanely naive strategy of laundering money for officials on the wrong side of Xi has played out it's terrifying hand.
Amazing that the Chinese even waited for a CWN top gun to be in the country when they did it so they could get him to.

What Chinese high roller would want to launder his money in any CWN Casino now? It's the last place they would want to go.
It was all just a little bit too easy a little bit too good to be true. People still don't get China.

Meanwhile, all the other Casinos will be pulling out their non Chinese staff and burning all the evidence.
You'd think SKCs ambitious investments in Adelaide would be looking up (if anyone ever wanted to go there) as Australia is closer than Vagus and their not going to CWN!


:rolleyes: That's how you do it!!

But soft numbers today didn't go down well. The biggest one day plunge for 20 years for this stock.
Very interesting. You are quite correct that it's no coincidence that the Chinese waited for one of CWN's big gun to be in the country before making the move. It's not something that's picked up in the media.

Based on SKC's update today, I think the Chinese insiders already know something is on the boil at the authorities. Now just wait for SGR to come clean on their recent trading with Friday's AGM.

I think there's a very good chance that they will see soft trading for Q1, plus VIP falling off a cliff since last week.
 
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Starting to look a little bullish here. I have limited knowledge on the fundamentals however the fact that both CWN and ALL are also looking strong is promising for the stock.

(Might just be a weak AUD play I honestly don't know)

skc.png
 
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With the reopening of their facilities on the 14/5 you could expect a nice recovery from here.

upload_2020-5-29_6-50-25.png
 

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