SkyCity expects a normalised EBITDA of between $247-253m for the financial year ending June 30 thanks to a rise in domestic tourism.<\/p>\n\n\n\n\n\n\n\n
New Zealand.-\u00a0SkyCity Entertainment Group\u00a0<\/strong>has announced prior to the release of its FY21 results that it has seen\u00a0a strong performance from its gaming businesses<\/strong>\u00a0in New Zealand.<\/p>\n\n\n\n The company said it had seen particularly strong performance from electronic gaming machines\u00a0<\/strong>at SkyCity Adelaide and from its offshore online casino SkyCity Malta. <\/p>\n\n\n\n SkyCity will release its FY2021 result on 25 August 2021. It expects\u00a0normalised net operating profit after tax (NPAT) of between AU$84m and AU$88m<\/strong>\u00a0and normalised EBITDA of between AU$247m and AU$253m.<\/p>\n\n\n\n SkyCity Adelaide<\/a>\u00a0reopened its doors after a six-day lockdown last November with restrictions in place, including\u00a0entry limited to certain membership tiers<\/strong>, a maximum capacity of 100 including staff on the gaming floor and fewer spaces at gaming tables.<\/p>\n\n\n\n Although the company continues to struggle with\u00a0the lack of foreign tourists<\/strong>\u00a0due to Covid-19 countermeasures, SkyCity has benefitted from domestic tourism, particularly on the weekend and holidays.<\/p>\n\n\n\n Richard Briggs<\/strong>, Hamilton City Council chief executive, has delivered a draft submission to the New Zealand Gambling Commission calling for an increase in the amount of profit SkyCity Hamilton<\/a> returns to the local community<\/strong>.<\/p>\n\n\n\n The casino operator only returns 1.5 per cent<\/strong> while pubs and clubs must return 40 per cent of their slot machines profits<\/strong>.<\/p>\n\n\n\n A few weeks ago, the New Zealand Gambling Commission<\/strong> started analysing casino charity requirements<\/a>.<\/p>\n\n\n\n For Briggs, the current licence conditions are \u201cout of sync\u201d<\/strong> due to a historic situation. He said there should be a standard profit return with a minimum contribution.<\/p>\n\n\n\nCriticism of SkyCity profit return to community<\/strong><\/h2>\n\n\n\n