{"id":22014,"date":"2021-08-26T12:56:01","date_gmt":"2021-08-26T15:56:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22014"},"modified":"2026-04-23T16:15:56","modified_gmt":"2026-04-23T19:15:56","slug":"casino-closures-cost-skycity-us727500-a-day","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/casino-closures-cost-skycity-us727500-a-day","title":{"rendered":"Casino closures cost SkyCity US$727,500 a day"},"content":{"rendered":"\n

SkyCity says the closure of venues costs the company AU$1m a day.<\/p>\n\n\n\n\n\n\n\n

New Zealand.- With New Zealand back under a\u00a0Level 4 lockdown<\/a>\u00a0until August 27, SkyCity has revealed that the closure of its casinos costs the company up to AU$1m (US$727,500) a day<\/strong>.<\/p>\n\n\n\n

SkyCity has temporarily closed its venues under new countermeasures imposed by the government. SkyCity Entertainment Group\u2019s<\/a>\u00a0Auckland venue has been in the spotlight after a guest tested positive for Covid-19.\u00a0<\/p>\n\n\n\n

The casino operator said it is unable to provide detailed earnings guidance<\/strong>\u00a0due to uncertain near-term prospects regarding Covid-19.<\/p>\n\n\n\n

The Ministry of Health has confirmed\u00a068 new Covid-19 cases during the last 24 hours<\/strong>\u00a0and the prime minister has committed to a “zero case” strategy until a sufficient population is vaccinated.<\/p>\n\n\n\n

SkyCity posts normalised profit after tax of 36.3 per cent in FY21<\/h2>\n\n\n\n

SkyCity<\/a>\u00a0has shared its financial results for the fiscal year 2021, reporting\u00a0normalised 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. <\/p>\n\n\n\n

Its\u00a0net profit of AU$156.1m was down 34 per cent\u00a0<\/strong>from the previous year. 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,\u00a0it was affected by a fire at its convention centre construction project<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

SkyCity says the closure of venues costs the company AU$1m a day.<\/p>\n","protected":false},"author":176,"featured_media":18877,"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 reports a daily operational cost of AU$1 million due to the Level 4 lockdown in New Zealand, impacting its casino venues. While the company posted strong normalised FY21 profit growth, the current regulatory environment prevents detailed earnings guidance, highlighting significant near-term operational headwinds despite prior domestic tourism benefits.","focusai_entities":"SkyCity, SkyCity Entertainment Group, Ministry of Health","focusai_location":"New Zealand, Auckland, Adelaide, Hamilton, Queenstown","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Lockdown impact on GGR","query":"What is the projected impact on SkyCity's Gross Gaming Revenue (GGR) and Net Gaming Revenue (NGR) for Q3 and Q4 FY22, considering the AU$1M daily operational cost and extended lockdown measures?"},{"label":"Capital allocation strategy","query":"How will the sustained operational costs and uncertain near-term prospects influence SkyCity's capital allocation strategy, particularly regarding its convention centre project and potential M&A activities in the current regulatory climate?"}],"footnotes":""},"categories":[16336,163,158],"tags":[23907,1137],"class_list":["post-22014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","category-slider-home","tag-land-based-casino","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22014","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=22014"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22014\/revisions"}],"predecessor-version":[{"id":22047,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22014\/revisions\/22047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18877"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}