The New Zealand is a very straightforward place to do business. The country has an efficient, market-oriented economy, a stable and secure business environment with zero corruption. It is a sophisticated, highly technologically aware nation and has one of the highest investments in information technology as a proportion of GDP in the world. Investors who want to invest in Best high yield dividend New Zealand should focus on SKYCITY Entertainment Group Limited which will make profit for them.
SKYCITY Entertainment Group Limited
It is a New Zealand-based company which is engaged in the gaming/entertainment, hotel and convention, hospitality, recreation, and tourism sectors. The company has a number of segments which include SKYCITY Auckland, Rest of New Zealand, SKYCITY Adelaide, SKYCITY Darwin and International business. Its core business is to own and operating casinos in Australasia. The company’s shares are listed on the Australia and New Zealand Stock Exchanges. It operates monopoly casinos in New Zealand and Australia, alongside a variety of industry-leading restaurants and bars, luxury hotels and convention centers.
The company has a strong and enviable collection of assets, which include some of the most significant urban monopoly casino licenses in New Zealand and Australia. Its international business segment is made up of customers sourced mainly from Asia, and worldwide. Its aim is to provide the best possible gaming and entertainment experiences for customers, and deliver healthy long-term returns to its shareholders.
On February 2, 1996 when operating its original Auckland casino, Skycity has expanded its operations to several cities in New Zealand and Australia. In June 2000, the company bought the Adelaide Casino and added another casino to its portfolio, when it opened Skycity Queenstown in the alpine resort of Queenstown. In July 2004, the company bought the Darwin Casino and Hotel from MGM Mirage and rebranded it as Skycity Darwin. In June 2004, it acquired a 40.5% holding in the Christchurch Casino when it bought Aspinal Limited.
In July 2011 High-end International VIP ‘Horizon Suites’ and gaming salons open as part of $30 million development on top of SKYCITY Hotel. In 2009 SKYCITY Auckland voted ‘Australasia’s leading Casino Resort at the 16th Annual World Travel Awards.
Code of business practice
The company’s code of business practice includes following characteristics:
· Honesty and fairness
· Human rights
· Health and Safety
· Privacy and confidentiality
· Promotion and advertising Problem gambling
· Compliance with laws
· Service of alcohol
On 5 July 2013, SKYCITY signed the final agreement with the New Zealand Government to fund, develop, operate and own the NZICC. The enabling legislation is expected to pass into law by the end of this calendar year. The agreement is subjected to a number of conditions, including the passing of the legislation giving effect to the regulatory concessions in the agreement.
On August 14, 2013, the company announced Normalized Net profit after Tax of $136.3 million, broadly in-line with analyst consensus, and Reported NPAT of $127.3 million for the year ended of 30 June 2013.
The company has a market capitalization of 2.19 Billion, EPS is 0.22, P/E ratio is 17.72 and the dividend yield is 5.24% at the annual dividend payout of 0.10.