SkyCity provides earnings guidance for FY22
SkyCity says it has seen a strong performance from its local gaming businesses in New Zealand following a relaxation of Covid-19 operating restrictions.
New Zealand.- SkyCity has finally provided earnings guidance for the financial year ending June 30. It said it was now in a position to do so following stronger-than-expected trading and increased certainty around its full-year results.
The casino operator will release its FY22 result on August 25. It expects normalised earnings before interest, taxes, depreciation and amortization (EBITDA) of between AU$135m to AU$140m. It said it expects group normalised net profit after tax (NPAT) of between AU$3.5m to AU$7m.
The company said it has seen a strong performance from its local gaming businesses while its non-gaming businesses continue to recover, benefiting from positive domestic tourism, particularly during the weekend and holiday periods.
Casinos started to operate with no capacity limits or physical distancing requirements on April 14 after authorities in New Zealand dropped the country’s Covid-19 alert level to “Orange” under its Covid-19 Protection Framework.
SkyCity’s chief operating officer, Callum Mallet, said at the time that the company expected to hire “hundreds of staff” as New Zealand prepared to reopen its borders for fully vaccinated foreign visitors.
