Latest / Best of Business / Shane Solly: Harbour Asset Management expert on the SkyCity share price going up amid takeover rumour

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Shane Solly: Harbour Asset Management expert on the SkyCity share price going up amid takeover rumour · Best of Business

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  Speaker 2: Heather Duplessylai, there is someone that lives in Wanica. I
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  Speaker 2: can't wait for our rates to keep increasing because the
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  Speaker 2: government won't implement a bed tacks. That's definitely gonna happen.
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  Speaker 2: On the other hand, though, I think we also know
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  Speaker 2: that maybe depending that depends on how much money comes
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  Speaker 2: from the International Visitor Levy, because unfortunately that was confirmed
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  Speaker 2: well when I said to look, oh Matt Woods told
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  Speaker 2: us and she said, oh did he? You couldn't sound
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  Speaker 2: more bummed out by the way the IVYL because I
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  Speaker 2: wasn't able to get that out of her. But the
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  Speaker 2: IVL basically at the moment is funding a lot of
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  Speaker 2: dock and a lot of tourism projects and other dock projects,
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  Speaker 2: things like the huts and the car parks and facilities
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  Speaker 2: at Mountcock and so on, So that money is going
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  Speaker 2: to come out of there go to the regions directly.
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  Speaker 2: It's twenty past six. Shane Solly Harbor Asset Managements with
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  Speaker 2: us ALO. Shane, all right, so what are we expecting
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  Speaker 2: from the Scott Besant press conference? Overnight.
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  Speaker 3: Yeah, so US treasuries if you scop this. He's due
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  Speaker 3: to do a press conference at about five o'clock tomorrow
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  Speaker 3: morning our time. He's expected to outline some more U
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  Speaker 3: S sanctions in Iran. It's been described by some as
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  Speaker 3: economic d Day. What we're guessing is he's going to
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  Speaker 3: talk about more sanctions on Iran's remaining oil experts, banking, payments, shipping,
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  Speaker 3: but he's going to try and extend it to secondary
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  Speaker 3: sanctions to foreign companies, banks and countries that deal with them.
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  Speaker 3: And one of the key hits there is China, who
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  Speaker 3: takes more than eighty percent of Iran's oil, is impacting
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  Speaker 3: negatively on markets in Asia. It was in Hong Kong,
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  Speaker 3: China career, even our own she market down Today's investors
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  Speaker 3: dial back risky head of the announcement. He's also, of course, course,
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  Speaker 3: and she was last week when he talked about buying
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  Speaker 3: back long term US bonds. Really that hasn't seen the
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  Speaker 3: US bond yields go down, go down, but what it
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  Speaker 3: has done is seen the US dollar go down, the
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  Speaker 3: goal price go up, and the bitcoin price guard as
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  Speaker 3: people have tried to find a place to hide from
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  Speaker 3: a lower East US dollar.
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  Speaker 2: So but going on there, Shane, what happened with sky
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  Speaker 2: City and takeover rumors today?
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  Speaker 3: Yeah, so sky City rumors it's an M and A target.
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  Speaker 3: In fact, it's even just come out in the last
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  Speaker 3: few minutes hither the Oak Tree out of California has
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  Speaker 3: been rumored as being the potential acquirer. So the sky
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  Speaker 3: City ship rice went up nine point nine percent today
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  Speaker 3: to sixty seven cents. So the sky City management team
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  Speaker 3: they've talked about a strategic review of it's Adelaide South
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  Speaker 3: Australia casino business and that's it's also progressing a sale
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  Speaker 3: of its Grand Hotel here in Auckland and then it'll
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  Speaker 3: reduced sky Cities debt. While the Adelaide asset's been put
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  Speaker 3: on the block, means that, you know, some of the
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  Speaker 3: big global casino operators could take a look at sky
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  Speaker 3: City in terms of some of the parts buying all
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  Speaker 3: of sky City. It's got a few rigatory hurdles and
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  Speaker 3: some of the new team trading environment still looks pretty
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  Speaker 3: tough for its aalkand casino. So let's see that the
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  Speaker 3: market liked it today.
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  Speaker 2: Yeah, Hey, how do you reckon the company? Reporting?
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  Speaker 3: Season's gone Yeah, look, I think it's a bit of
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  Speaker 3: a quiet quite outperforming. We've seen, you know, one of
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  Speaker 3: the best reporting seasons for a long time. Companies are
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  Speaker 3: bidding you music putations mainly due to better profit margins,
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  Speaker 3: working cost out, productivity, good self help and the market
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  Speaker 3: likes that. We've actually seen the New Zealand sharemakup one
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  Speaker 3: point six percent month today and over seven percent of
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  Speaker 3: the last three months, which is great for everybody's investments
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  Speaker 3: and New Zealand shares including well it's lucky here we
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  Speaker 3: say the fund investor is out there. We've got a
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  Speaker 3: little bit to cut through this week twenty companies. This
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  Speaker 3: week tomorrow we've got Move Logistics inside in the tourism
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  Speaker 3: holdings of Vulcan Steel and Fish and Bike Hose holding
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  Speaker 3: an annual Shielder meetings. So hopefully they'll keep beating this
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  Speaker 3: consensus market earnings.
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  Speaker 2: And brilliant stuff. Hey, thank you very much. Shane has
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  Speaker 2: always Shane Sally Harborresset Management.
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