CWN 0.25% $12.09 crown resorts limited

News: CWN Skycity Entertainment announces FY17 forecast, updates on events concerning Crown...

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    Oct 21 (Reuters) - Skycity Entertainment Group Ltd (SKC)

    :   
    	* No change to previous market guidance for FY17 capex or  
    

    future capex profile for major growth projects

    • Skycity is closely monitoring recent events concerning Crown employees being detained by chinese authorities
    • Skycity is "confident" that its contractors comply with all relevant laws and regulations in China
    • None of Skycity's contractors have been questioned or detained as part of this investigation
    • Qtrly group normalised revenue NZ$262.1 million versus NZ$277.9 million last year
    • Financial impact remains highly uncertain, but is likely to be adverse over the short-to-medium term
    • Auckland to return to growth for the remainder of fy17
    • "Challenging trading conditions to persist in Darwin over the near-term"
    • IB activity to weaken further following recent developments in China
 
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