SkyCity is pushing forward with a new capital raise, after confirming a significant drop in profit.

Underlying profit's plummeted 42 percent, according to new reports.

Costs have also been rising, particularly for regulatory compliance, online gaming, and the soon-to-open Auckland convention centre.

SkyCity CEO Jason Walbridge says he believes they're acting in the best interests of the company - despite the concerns.

LISTEN ABOVE

SkyCity is pushing forward with a new capital raise, after confirming a significant drop in profit.
Underlying profit's plummeted 42 percent, according to new reports.
Costs have also been rising, particularly for regulatory compliance, online gaming, and the soon-to-open Auckland convention centre.
SkyCity CEO Jason Walbridge says he believes they're acting in the best interests of the company - despite the concerns.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Jason Walbridge: SkyCity CEO on the company's 42 percent profit drop

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/67dc2c59-4230-4ecf-95cb-b34000737e98/transcript

Rhythm and Vines festival has announced 2026 will be their final year in Gisborne after 24-years in the region. 

The new location is yet to be revealed.

CEO Kieran Spillane told Andrew Dickens they want to make this years R&V 'the biggest and the best' so far.

"We really want to go out with a bang and say a huge thank you to the wonderful people of Gisborne who have helped, and supported this festival over the years."

LISTEN ABOVE 

Rhythm and Vines festival has announced 2026 will be their final year in Gisborne after 24-years in the region.&nbsp;
The new location is yet to be revealed.
CEO Kieran Spillane told Andrew Dickens they want to make this years R&amp;V 'the biggest and the best' so far.
"We really want to go out with a bang and say a huge thank you to the wonderful people of Gisborne who have helped, and supported this festival over the years."
LISTEN ABOVE&nbsp;

Kieran Spillane: Rhythm and Vines CEO says relocation necessary for growth

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4d9bcd9c-eebd-493b-b28a-b48e007f01b6/transcript

The Consumers Price Index (CPI) has increased 4.1% in the 12 months to the June 2026 quarter, according to figures released by Stats NZ today.

As expected, the increase can be partially contributed to the US-Iran war as the largest upwards contributor to the annual inflation rate was petrol, up 27.5%.

Finance Minister Nicola Willis is labelling annual inflation hitting its highest level in more than two years a “Trump spike”.

Former Reserve Bank senior economist Michael Reddell told Andrew Dickens that economists don't tend to look at the headline numbers but they will be digging through the numbers to find trends. 

"It's a bit like the famous line about democracy, you know, it's not a perfect system, it's just better than any of the alternatives that have been tried, and inflation targeting is a bit like that as well. It's definitely not perfect."

LISTEN ABOVE 

The Consumers Price Index (CPI) has increased 4.1% in the 12 months to the June 2026 quarter, according to figures released by Stats NZ today.
As expected, the increase can be partially contributed to the US-Iran war as the largest upwards contributor to the annual inflation rate was petrol, up 27.5%.
Finance Minister Nicola Willis is labelling annual inflation hitting its highest level in more than two years a “Trump spike”.
Former Reserve Bank senior economist Michael Reddell told Andrew Dickens that economists don't tend to look at the headline numbers but they will be digging through the numbers to find trends.&nbsp;
"It's a bit like the famous line about democracy, you know, it's not a perfect system, it's just better than any of the alternatives that have been tried, and inflation targeting is a bit like that as well. It's definitely not perfect."
LISTEN ABOVE&nbsp;

Michael Reddell: Former Reserve Bank senior economist discusses the latest inflation numbers

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/135af71c-6540-4b3c-bd75-b48e007cabbe/transcript

On the Heather du Plessis-Allan Drive Full Show Podcast with Andrew Dickens for Tuesday, 21 July, 2026, former Reserve Bank senior economist Michael Reddell on what a higher inflation rate of 4.1% could mean for interest rates.

Rhythm and Vines is about to bow out of Gisborne. We find out why with chief executive Kieran Spillane.

Ponsonby News editor Martin Leach is baffled by a threat he's received from the Auckland mayor.

And on The Huddle, Sarah Trotman and Mark Sainsbury on whether Wayne Brown's out of line.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

LISTEN ABOVE

On the Heather du Plessis-Allan Drive Full Show Podcast with Andrew Dickens for Tuesday, 21 July, 2026, former Reserve Bank senior economist Michael Reddell on what a higher inflation rate of 4.1% could mean for interest rates.
Rhythm and Vines is about to bow out of Gisborne. We find out why with chief executive Kieran Spillane.
Ponsonby News editor Martin Leach is baffled by a threat he's received from the Auckland mayor.
And on The Huddle, Sarah Trotman and Mark Sainsbury on whether Wayne Brown's out of line.
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.
LISTEN ABOVE

Full Show Podcast: 21 July 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/70fd84cb-5513-4fc3-9504-b48e0076b6db/transcript

Jason Walbridge: SkyCity CEO on the company's 42 percent profit drop

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