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New Zealand's SkyCity Entertainment rise on $124.6 million hotel sale

By Reuters News03:20 (UTC), 16 October 2026 Updated

** Shares of casino operator SkyCity Entertainment Group SKC.NZ rise as much as 4.6% to NZ$0.69, hitting their highest level since October 2

** Shares last up 3%, on track for best day since September 30, if gains hold

** Company signs deal to sell The Grand Hotel and its business assets for NZ$221 million ($124.60 million) to Eden Global Capital Private and Auckland City Collective

** About 10.2 mln shares change hands, 10.8x the 30-day average of 950,200

** Stock down 24.4% YTD including moves in current session

($1 = 1.7737 New Zealand dollars)

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