{"id":21977,"date":"2021-08-25T13:27:37","date_gmt":"2021-08-25T16:27:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21977"},"modified":"2026-04-23T16:18:52","modified_gmt":"2026-04-23T19:18:52","slug":"skycity-profits-up-36-3-for-fy21","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/skycity-profits-up-36-3-for-fy21","title":{"rendered":"SkyCity profits up 36.3% for FY21"},"content":{"rendered":"\n

SkyCity has announced growth in normalised revenue 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<\/a>\u00a0<\/strong>has shared its financial results for the fiscal year 2021, reporting normalised profit after tax (NPAT) up 36.3 per cent<\/strong>\u00a0and earnings before interest, tax, depreciation, and amortisation (EBITDA) up 25.5 per cent year-on-year. Its\u00a0net profit of AU$156.1m was down 34 per cent\u00a0<\/strong>from the previous year. <\/p>\n\n\n\n

Reported EBITDA was down 8.9 per cent and reported NPAT was down 33.7 per cent versus the prior year.<\/p>\n\n\n\n

The company said it had\u00a0benefitted from domestic tourism<\/strong>, particularly on the weekend and holidays at its Adelaide, Hamilton, and Queenstown venues. A\u00a0strong performance from its gaming businesses<\/strong>\u00a0in New Zealand has resulted in 45,000 active customers. However, it was affected by a fire at its convention centre construction project<\/strong>.<\/p>\n\n\n\n

Michael Ahearne, SkyCity CEO, said the Covid-19 pandemic has impacted the business and operations at each of the company\u2019s properties over fiscal year 2021.<\/p>\n\n\n\n

Authorities in New Zealand have recently decided to extend the country\u2019s Level 4 lockdown<\/strong> until August 27. However, measures will be extended until August 31 in Auckland<\/strong> as it was the epicentre of the outbreak.<\/p>\n\n\n\n

Under the \u201cLevel 4\u201d lockdown, people can only leave their houses to buy food or medical supplies or for socially distanced exercise.<\/p>\n\n\n\n

SkyCity\u2019s<\/a> Auckland venue was in the spotlight after a guest tested positive for Covid-19 last week. The customer visited on Saturday August 14. According to local media reports, there were 240 workers at SkyCity Auckland<\/strong> and thousands of patrons deemed close contacts were told to isolate. <\/p>\n\n\n\n

SkyCity also closed its venues in Hamilton and Queenstown<\/strong> until further notice.<\/p>\n","protected":false},"excerpt":{"rendered":"

SkyCity has announced growth in normalised revenue for the financial year ending June 30 thanks to a rise in domestic tourism.<\/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 reported a mixed financial performance for FY2021, with normalised NPAT and EBITDA growth attributed to robust domestic tourism, particularly in New Zealand. However, reported net profit declined significantly due to the adverse operational impacts of the Covid-19 pandemic, including extensive Level 4 lockdowns in New Zealand and a fire incident at its convention centre.","focusai_entities":"SkyCity Entertainment Group, SkyCity, Michael Ahearne","focusai_location":"New Zealand, Australia, Auckland, Hamilton, Queenstown, Adelaide","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.8), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Post-Lockdown Recovery Strategy","query":"What specific operational and marketing strategies is SkyCity implementing to mitigate the ongoing impact of Level 4 lockdowns and accelerate post-reopening GGR recovery across its New Zealand gaming verticals?"},{"label":"Capital Allocation & Risk","query":"Given the divergence between normalised and reported profit metrics and heightened operational volatility, how will SkyCity's capital allocation strategy, particularly for future development projects and M&A, be adjusted to account for increased regulatory uncertainty and market disruption?"}],"footnotes":""},"categories":[16336,163],"tags":[23907,1137],"class_list":["post-21977","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\/21977","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=21977"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21977\/revisions"}],"predecessor-version":[{"id":21995,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21977\/revisions\/21995"}],"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=21977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}