{"id":16936,"date":"2021-04-16T16:01:21","date_gmt":"2021-04-16T16:01:21","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16936"},"modified":"2026-04-23T20:18:52","modified_gmt":"2026-04-23T23:18:52","slug":"sp-upgrades-skycity-to-credit-stable","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sp-upgrades-skycity-to-credit-stable","title":{"rendered":"S&amp;P upgrades SkyCity to &#8220;credit stable&#8221;"},"content":{"rendered":"\n<p>SkyCity is now operating fully without Covid-19 restrictions in New Zealand and expects to return to normal levels by fiscal year 2022.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>New Zealand.- <strong>Standard &amp; Poors<\/strong> has upgraded <strong>SkyCity Entertainment Group<\/strong> from negative to \u201ccredit stable\u201d.<\/p>\n\n\n\n<p>The credit rating agency predicts<strong> SkyCity&#8217;s earnings for fiscal year 2020, which ends on June 30, will reach at least 75 per cent <\/strong>of fiscal 2019 levels.<\/p>\n\n\n\n<p>The company reported\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/skycity-half-year-revenues-fall-76\">that revenue for the six months to December 31 was down 76 per cent year-on-year<\/a>\u00a0to NZ$78.4m (US$56.4m). However,\u00a0<strong>its Adelaide venue saw a 15.8 per cent<\/strong>\u00a0<strong>increase<\/strong>\u00a0in revenue from the prior year at AU$89.5m (US$67.0m).<\/p>\n\n\n\n<p>Analysts expect the casino operator <strong>will return to pre-Covid 19 levels by 2022<\/strong>.<\/p>\n\n\n\n<p>According to S&amp;P, <strong>SkyCity is quickly recovering from the Covid-19 pandemic <\/strong>thanks to a strong recovery in gaming and non-gaming revenue, especially at its Auckland and Adelaide venues.<\/p>\n\n\n\n<p><strong>SkyCity\u00a0<\/strong>Auckland reopened its doors and\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/skycity-auckland-to-reopen-without-covid-19-restrictions\">began to operate without Covid-19 restrictions<\/a> in March.<\/p>\n\n\n\n<p><strong>See also<\/strong>:\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/skycity-halts-dealings-with-junket-operators\">SkyCity halts dealings with junket operators<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SkyCity is now operating fully without Covid-19 restrictions in New Zealand and expects to return to normal levels by fiscal year 2022.<\/p>\n","protected":false},"author":176,"featured_media":16937,"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 has received an upgrade to \"credit stable\" from Standard & Poors, reflecting a robust recovery in gaming and non-gaming revenues, particularly at its Auckland and Adelaide properties. The company anticipates returning to pre-pandemic operational and earnings levels by fiscal year 2022, following the lifting of COVID-19 restrictions in New Zealand.","focusai_entities":"SkyCity Entertainment Group, Standard & Poors, S&P","focusai_location":"New Zealand, Auckland, Australia, Adelaide","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Capital Structure?","query":"How might SkyCity's upgraded credit outlook influence its cost of capital and potential for future debt financing or expansion initiatives across its gaming verticals?"},{"label":"Regional Recovery Disparity?","query":"What specific operational and market factors contributed to the significantly stronger revenue recovery in Adelaide compared to the overall group performance, and what implications does this have for regional market strategies and resource allocation?"}],"footnotes":""},"categories":[16336,157],"tags":[1137],"class_list":["post-16936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16936","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=16936"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16936\/revisions"}],"predecessor-version":[{"id":16958,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16936\/revisions\/16958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16937"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}