Shares in Skycity Entertainment Group Ltd fell sharply on Friday after the New Zealand-based gaming firm downgraded its full year profit forecast due largely to the worse-than-expected impact of smoking bans.

The company revised downwards its earnings guidance for fiscal 2005 to between $NZ100 million and $NZ103 million ($A94 million and $A97 million), saying the introduction of smoking bans in New Zealand in December 2004 had had a significant impact on revenue at hospitality and entertainment venues.

Source: smn.com.au. Link

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