Business
SKYCITY (ASX:SKC) share price drops lower on Adelaide COVID lockdown news // Motley Fool Australia
The SKYCITY Entertainment Group Limited (ASX: SKC) share price was out of form on Wednesday and dropped lower.
The casino and resorts operator’s shares ended the day 0.35% lower at $2.88.
This compares to a 0.5% gain by the the S&P/ASX 200 Index (ASX: XJO).
Why did SKYCITY share price drop lower?
The SKYCITY share price came under pressure on Wednesday after it announced that it would be forced to close its Adelaide-based casino and entertainment facilities from midnight tonight.
This follows an announcement by the South Australian government earlier today that revealed a range of new state-wide COVID-19 restrictions that are being implemented to prevent the spread of the virus following a recent outbreak.
As things stand,…
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