Sharechat Logo

SkyCity international boss's exit costs him $700,000 in forfeited shares

Tuesday 10th January 2017

Text too small?

SkyCity Entertainment Group's former President of International Business, Ejaaz Dean, forfeited the right to 177,500 shares through the company's long-term incentive plan for executives when he left last year, documents published by the NZX show. 

The Auckland-based casino and gaming group announced Dean's departure in October, telling investors he was leaving to become the managing director of a gaming property in Europe.

His exit came a week before the arrest of competitor Crown Resorts' executive vice president VIP International Jason O'Connor in China. Seventeen other employees of Crown were arrested in what was seen as a crackdown by Beijing on the flouting of a law which means it is illegal to arrange for more than 10 people to travel to gamble overseas.

At the current share price of $3.91, Dean's exit means he lost out on $694,025. He remains a holder of 13,177 shares, valued at $51,522.07 

Shares of SkyCity fell 0.3 percent in trading today to $3.91. They've fallen 0.3 percent since the start of 2017 and are down 0.6 percent on a year ago. 

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

BPG - Blackpearl Acquires US AI Platform to Accelerate Growth
TGG - Response to media speculation
ARB - Annual Meeting Date and Director Nominations
CNU - Q4 FY25 Connections Update
MOVE FY25 Results and Investor Briefing 29 August 2025
RYM - First quarter trading update
July 11th Morning Report
IKE Announces equity raising of A$20 million
Chorus full year results date
FPH 2025 Notice of Annual Meeting and Voting Form