{"id":20251,"date":"2021-07-14T14:44:16","date_gmt":"2021-07-14T14:44:16","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=20251"},"modified":"2026-04-23T17:38:03","modified_gmt":"2026-04-23T20:38:03","slug":"skycity-gets-permission-to-put-back-nzicc-completion-date","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/skycity-gets-permission-to-put-back-nzicc-completion-date","title":{"rendered":"SkyCity gets permission to put back NZICC completion date"},"content":{"rendered":"\n

SkyCity has been granted permission to extend the long stop date for completion of the New Zealand International Convention Centre (NZICC) project from 2 January 2025 to 15 December 2027.<\/p>\n\n\n\n\n\n\n\n

New Zealand.-\u00a0SkyCity Entertainment Group\u00a0<\/strong>has announced that it has extended the date for completion of the New Zealand International Convention Centre (NZICC) from 2 January 2025 to 15 December 2027.<\/p>\n\n\n\n

The company said its\u00a0obligations to operate the NZICC\u00a0<\/strong>will also be extended based on the new completion date.<\/p>\n\n\n\n

The casino operator and its partner, Fletcher Construction Company, hope to\u00a0complete the development by late 2024<\/strong>\u00a0but said they prefer to be prudent and to have a buffer between the programme date and the long stop date.<\/p>\n\n\n\n

The non-gaming centre will have a 32,500sqm gross floor area<\/strong>, a 2,850 seat theatre, world-class dining venues and a five-star, 300-room hotel.<\/p>\n\n\n\n

SkyCity<\/a>\u00a0said it will provide a further update on the NZICC project on 25 August 2021 when it releases its FY21 results.<\/p>\n\n\n\n

Last week, the group announced that it had seen\u00a0a strong performance from its gaming businesses<\/strong>\u00a0in New Zealand, with particularly strong\u00a0performance from electronic gaming machines\u00a0<\/strong>at SkyCity Adelaide and from its offshore online casino SkyCity Malta.<\/p>\n\n\n\n

It expects normalised net operating profit after tax (NPAT) of between AU$84m and AU$88m<\/strong> and normalised EBITDA of between AU$247m and AU$253m.<\/p>\n\n\n\n

SkyCity Adelaide<\/a> reopened its doors after a six-day lockdown last November with restrictions in place, including entry 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 weekends and holidays.<\/p>\n","protected":false},"excerpt":{"rendered":"

SkyCity has been granted permission to extend the long stop date for completion of the New Zealand International Convention Centre (NZICC) project from 2 January 2025 to 15 December 2027.<\/p>\n","protected":false},"author":176,"featured_media":18781,"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 secured an extension for the long stop date of its New Zealand International Convention Centre (NZICC) project from January 2, 2025, to December 15, 2027. This strategic adjustment provides a prudent buffer for the non-gaming development, while the company simultaneously reported strong gaming performance from its New Zealand operations, SkyCity Adelaide, and SkyCity Malta, anticipating normalised NPAT of AU$84m-AU$88m for FY21.","focusai_entities":"SkyCity Entertainment Group, Fletcher Construction Company, SkyCity Adelaide, SkyCity Malta","focusai_location":"New Zealand, Adelaide, Malta","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NZICC Project Cost Impact?","query":"What is the projected impact of the NZICC long stop date extension on the total capital expenditure and the project's internal rate of return (IRR) for SkyCity?"},{"label":"Gaming Vertical Performance Drivers?","query":"Beyond domestic tourism, what specific operational or marketing strategies contributed to the strong performance of electronic gaming machines at SkyCity Adelaide and the offshore online casino SkyCity Malta?"}],"footnotes":""},"categories":[16336,157],"tags":[1137],"class_list":["post-20251","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\/20251","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=20251"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20251\/revisions"}],"predecessor-version":[{"id":20273,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20251\/revisions\/20273"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18781"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=20251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=20251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=20251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}