SkyCity half-year revenues fall 76%

Revenue was up at SkyCity Adelaide.
Revenue was up at SkyCity Adelaide.

The New Zealand casino operator has been deeply affected by Covid-19 countermeasures and restrictions.

New Zealand.- SkyCity Entertainment Group has reported that revenue for the six months to December 31 was down 76 per cent year-on-year to NZ$78.4m (US$56.4m).

The company reported EBITDA down by 62.6 per cent to NZ$152.6m (US$109.8m).

Results were impacted by restrictions stemming from the Covid-19 pandemic. The operator’s Auckland casino has been forced to close four times since the beginning of the pandemic last March, which shaved $20m from operating profits.

However, SkyCity Adelaide has reported a 15.8 per cent increase in revenue from the prior year at AU$89.5m (US$67.0m).

The company also noted that its online casino venture had seen revenues rise to NZ$7.5m (US$5.4m). In this sector, EBITDA moved from a loss of NZ$500,000 (US$359.9m) to a positive NZ$5.4m (US$3.9m).

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