Skycity's Grand Hotel Sale Paves Way for Dividends to Restart

Dow Jones

07/24

2216 GMT - Casino operator SkyCity Entertainment's deal to sell The Grand Hotel puts it in a position to resume dividend payouts in FY27, says Forsyth Barr. SkyCity has entered into a non-binding heads of agreement for the sale of The Grand Hotel, but didn't say how much the asset will fetch. It came five days after SkyCity sold two other properties. Forsyth Barr values The Grand Hotel at NZ$200 million. "Industry feedback and recent transactional evidence suggest upside to this valuation, and we believe a potential sale price of between NZ$200 million and NZ$250 million could be achieved," analyst Paul Laxton Koraua says. Cash proceeds from the transaction are likely in 1H27. Forsyth Barr forecasts a NZ$0.03/share dividend in FY27, representing a 75% payout of net profit. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 23, 2026 18:16 ET (22:16 GMT)

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SkyCity has entered into a non-binding heads of agreement for the sale of The Grand Hotel, but didn't say how much the asset will fetch. It came five days after SkyCity sold two other properties. Forsyth Barr values The Grand Hotel at NZ$200 million. \"Industry feedback and recent transactional evidence suggest upside to this valuation, and we believe a potential sale price of between NZ$200 million and NZ$250 million could be achieved,\" analyst Paul Laxton Koraua says. Cash proceeds from the transaction are likely in 1H27. Forsyth Barr forecasts a NZ$0.03/share dividend in FY27, representing a 75% payout of net profit. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 23, 2026 18:16 ET (22:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Skycity's Grand Hotel Sale Paves Way for Dividends to Restart</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSkycity's Grand Hotel Sale Paves Way for Dividends to Restart\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2026-07-24 06:16</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  2216 GMT - Casino operator <a href=\"https://laohu8.com/S/SKC.AU\">SkyCity Entertainment</a>'s deal to sell The Grand Hotel puts it in a position to resume dividend payouts in FY27, says Forsyth Barr. SkyCity has entered into a non-binding heads of agreement for the sale of The Grand Hotel, but didn't say how much the asset will fetch. It came five days after SkyCity sold two other properties. Forsyth Barr values The Grand Hotel at NZ$200 million. \"Industry feedback and recent transactional evidence suggest upside to this valuation, and we believe a potential sale price of between NZ$200 million and NZ$250 million could be achieved,\" analyst Paul Laxton Koraua says. Cash proceeds from the transaction are likely in 1H27. Forsyth Barr forecasts a NZ$0.03/share dividend in FY27, representing a 75% payout of net profit. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 23, 2026 18:16 ET (22:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7078","symbol_name":"賭場與賭博","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2653959771","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2653959771","pubTimestamp":1784844960,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2216 GMT - Casino operator SkyCity Entertainment's deal to sell The Grand Hotel puts it in a position to resume dividend payouts in FY27, says Forsyth Barr. SkyCity has entered into a non-binding heads of agreement for the sale of The Grand Hotel, but didn't say how much the asset will fetch. It came five days after SkyCity sold two other properties. Forsyth Barr values The Grand Hotel at NZ$200 million. \"Industry feedback and recent transactional evidence suggest upside to this valuation, and we believe a potential sale price of between NZ$200 million and NZ$250 million could be achieved,\" analyst Paul Laxton Koraua says. Cash proceeds from the transaction are likely in 1H27. Forsyth Barr forecasts a NZ$0.03/share dividend in FY27, representing a 75% payout of net profit.  Dow Jones NewswiresJuly 23, 2026 18:16 ET Copyright  2026 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7078":"赌场与赌博","BK8036":"赌场与赌博","SKC.AU":"SkyCity Entertainment Group Ltd","SKC.NZ":"SkyCity Entertainment Group Limited (NS) Ordinary Shares"},"translate_title":"天空之城大酒店出售为重启股息铺平了道路","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKC.NZ":0.9,"SKC.AU":0.9},"content_text":"2216 GMT - Casino operator SkyCity Entertainment's deal to sell The Grand Hotel puts it in a position to resume dividend payouts in FY27, says Forsyth Barr. SkyCity has entered into a non-binding heads of agreement for the sale of The Grand Hotel, but didn't say how much the asset will fetch. It came five days after SkyCity sold two other properties. Forsyth Barr values The Grand Hotel at NZ$200 million. \"Industry feedback and recent transactional evidence suggest upside to this valuation, and we believe a potential sale price of between NZ$200 million and NZ$250 million could be achieved,\" analyst Paul Laxton Koraua says. Cash proceeds from the transaction are likely in 1H27. Forsyth Barr forecasts a NZ$0.03/share dividend in FY27, representing a 75% payout of net profit. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 23, 2026 18:16 ET (22:16 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}