The New Zealand casino operator has been deeply affected by Covid-19 countermeasures and restrictions.<\/p>\n\n\n\n\n\n\n\n
New Zealand.-\u00a0SkyCity Entertainment Group<\/strong> 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).<\/p>\n\n\n\n The company reported EBITDA down by 62.6 per cent <\/strong>to NZ$152.6m (US$109.8m).<\/p>\n\n\n\n Results were impacted by restrictions stemming from the Covid-19 pandemic. The operator’s Auckland casino has been forced to close <\/em><\/strong><\/a>fou<\/a><\/strong><\/em>r times<\/em><\/strong><\/a>\u00a0since the beginning of the pandemic last March, which shaved $20m from operating profits<\/strong>.<\/p>\n\n\n\n However, SkyCity Adelaide has reported a 15.8 per cent<\/strong> increase<\/strong> in revenue from the prior year at AU$89.5m (US$67.0m).<\/p>\n\n\n\n The company also noted that its online casino venture had seen revenues rise <\/strong>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).<\/p>\n","protected":false},"excerpt":{"rendered":" The New Zealand casino operator has been deeply affected by Covid-19 countermeasures and restrictions.<\/p>\n","protected":false},"author":176,"featured_media":14896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SkyCity Entertainment Group reported a significant 76% year-on-year revenue decline to NZ$78.4m and a 62.6% EBITDA reduction to NZ$152.6m for the six months ending December 31, primarily due to extensive COVID-19 restrictions impacting its New Zealand casino operations. Conversely, SkyCity Adelaide saw a 15.8% revenue increase, and its online casino venture transitioned from an EBITDA loss to a positive NZ$5.4m, demonstrating resilience in diversified segments.","focusai_entities":"SkyCity Entertainment Group, SkyCity Adelaide","focusai_location":"New Zealand, Auckland, Australia, Adelaide","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.95), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Online Growth Sustainability?","query":"What specific strategic investments or operational efficiencies underpinned the online casino's shift from an EBITDA loss to a positive NZ$5.4m, and what is the projected growth trajectory for this vertical?"},{"label":"Diversification Strategy Impact?","query":"How will SkyCity's capital allocation strategy evolve to further leverage the strong performance of SkyCity Adelaide and the online casino, mitigating future land-based operational risks?"}],"footnotes":""},"categories":[16336,163],"tags":[23907,1137],"class_list":["post-14891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-land-based-casino","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14891"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14891\/revisions"}],"predecessor-version":[{"id":14945,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14891\/revisions\/14945"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14896"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}