SkyCity has reported a US$21 million loss for the fiscal year ended in September.
SkyCity, one of New Zealand’s most iconic hotels and casinos has reported a NZ$33.6m (US20.9mln) loss for the year ended 30 June 2022 due to closure during 1H22 pandemic-related restrictions on their flagship property in Auckland.
The group’s properties in Hamilton and Queenstown were forced to close for 65 days each, due aikers safety concerns.
The company reported a 33% year-on profit decline to NZ$639m, with its Auckland property representing most (60%) of the revenue at 330.6 million NZ Dollars; followed by Hamilton and Queenstown which had respective figures around 10%.
The New Zealand Other group’s Adelaide property reported a total of NZ$3.8m in revenue last year, while its Australian unit saw revenues rise to AU$184.5 ($128 million).
SkyCity, New Zealand’s largest casino operator by far with 50% more gambling tables than its nearest competitors and an impressive NZ$96.9 million in EBITDA for FY22 (down 69%), reported that Auckland was their top performing market yet again; producing revenue of over 100%.
The profitable cities are Adelaide, with a total EBITDA of AU$20.5 million; and Hamilton which reported NZ$24 5m in revenue last year alone!
The gaming industry is getting more competitive with each passing day, but SkyCity has managed to stay ahead of the curve by focusing on operational performance and maximizing value for its exclusive licenses. Now it’s a unique opportunity that will allow them not only monetize omnichannel efforts-but also consolidate themselves at Industry leader in this sector!
Two high-powered executives are set to retire this year. Jennifer Owen, a Director of the SkyCity Board plans on leaving her post at group’s annual meeting in October 2022 while Sue Suckling will be stepping down from her role early next calendaryear as well before returning back into retirement status following an extensive career with us that includes more than three decades worth experience!
The Star Entertainment Group reported revenue of AU$1.53 billion for the 12 months ended 30 June 2022, a 2% decline from last year’s period at today’s rates but with an exchange rate that has been much more volatile over this time frame than it was previously – meaning their earnings are likely higher now adjust accordingly if comparing back through earlier periods when prices varied less significantly between countries/regions throughout Asia Pacific region due to greater international trade connectivity.
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