SkyCity Entertainment Group Ltd

SKC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$2.60	Gsrxh	Vhgbglcj

Domestic Tourists Prop Up SkyCity's Fiscal 2022 Earnings Outlook, Albeit Less Than Expected

Angus Hewitt , Esther Holloway

Jun 14, 2022

We maintain our NZD 3.80 (AUD 3.50) fair value estimate for shares in SkyCity following a trading update. The firm is eyeing improved conditions in domestic venues as New Zealand coronavirus restrictions are relaxed and international tourists return. Consequently, SkyCity management expects a full-year fiscal 2022 EBITDA of between NZD 135 million and NZD 140 million.

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