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SkyCity and Fletcher Building share prices down on Auckland complex fire

The SKYCITY Entertainment Group Limited (ASX: SKC) share price fell 3% to $3.62 after a major fire broke out at the New Zealand International Convention Centre (NZICC) that adjoins the SkyCity Auckland complex.

The fire meant the group was forced to evacuate and close the Sky Tower, SkyCity Casino, SkyCity Grand Hotel, car park, SkyCity restaurants and commercial properties. 

The company did not put a figure on the financial cost of its operations being mothballed for a short period of time, but it’s a small setback at least.

The NZICC and Horizon hotel where the fire was focused is being constructed by NZ construction giant Fletcher Building Limited (ASX: FBU).

Fletcher Shares also edged lower yesterday with the CEOs of both companies to provide a market update today. 

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Motley Fool contributor Tom Richardson owns shares in Dicker Data.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia has recommended Sky City Entertainment Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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