• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Revenue, profit down for New Zealand’s SkyCity in FY21 on COVID impact

Ben Blaschke by Ben Blaschke
Wed 25 Aug 2021 at 06:19
SkyCity Auckland extends casino closure as second New Zealand COVID outbreak grows
17
SHARES
431
VIEWS
Print Friendly, PDF & Email

New Zealand’s SkyCity Entertainment Group has reported a 15.4% decline in revenue to NZ$951.9 million and a 33.7% fall in profit to NZ$156.1 million in the 12 months to 30 June 2021, impacted by ongoing COVID-19 disruptions.

The release of SkyCity’s FY21 results comes with the company’s New Zealand casinos in Auckland, Hamilton and Queenstown currently closed due to a growing outbreak of COVID spreading across the country, including 41 new cases announced Tuesday.

EBITDA for the period fell 8.9% year-on-year to NZ$317.3 million, with the company declaring a dividend of NZ$0.07.

CEO Michael Ahearne said the results were positive given the challenges posed by the COVID-19 pandemic and the disruption to its international business – including a decision to cease working with junket operators in response to recent inquiries into Australian casino giant Crown Resorts.

“Local gaming has performed well when open and operating without restrictions, while our tourism-related businesses including hotels, food and beverage, attractions and International Business had weaker results primarily due to ongoing international and domestic (Australian) border closures,” Ahearne said.

“COVID-19 has continued to significantly impact the business and operations at each of SkyCity’s properties in FY21. Government mandated lockdowns in New Zealand and South Australia resulted in the closure of SkyCity Auckland for 29 days and SkyCity Adelaide for 4 days. When permitted to reopen, the properties have initially operated under significant constraints due to restrictions on mass gatherings and physical distancing requirements.

“Going forward SkyCity’s strategic plan is focused on our core business, executing our major projects, continuing to navigate the business through COVID, delivering on the omnichannel opportunity and the efficient allocation of capital.”

On the decision to cease dealing with junkets, Ahearne said the company will look instead to operate its international division – which in FY19 had driven turnover of NZ$14.1 billion – under a “revised operating model where SkyCity will deal directly with patrons after appropriate ‘know your customer’ and customer financial due diligence requirements are satisfied.

“Minimising harm to customers remains a key focus and we have made a number of investments in people and technology (such as facial recognition and specialised customer screening tools) over the past year to keep our customers safe,” Ahearne said.

“SkyCity is committed to ensuring that it provides safe and responsible experiences and environments and places significant importance on its host responsibility and AML obligations.”

SkyCity also reported revenue of NZ$7.5 million from its online gaming business, SkyCity Online Casino, which has seen the number of active customers increase from 24,400 in mid-February to 38,000 in April and 45,000 as of 30 June 2021.

RelatedPosts

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

Sat 31 May 2025 at 05:53
Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

Fri 30 May 2025 at 05:23
Southern Son

Newport World Resorts bucks Manila gaming trend as revenue, profit up sharply in 1Q25

Fri 16 May 2025 at 16:00
Everi which way

Everi revenues down 4% to US$181 million in 1Q25 on decline in gaming business

Thu 15 May 2025 at 06:29
Load More
Tags: covid-19JunketsMichael AhearneNew ZealandprofitrevenueSKYCITY AucklandSKYCITY Entertainment GroupSkyCity Hamilton
Share7Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English