{"id":24609,"date":"2021-11-17T09:41:26","date_gmt":"2021-11-17T12:41:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24609"},"modified":"2026-04-23T13:45:59","modified_gmt":"2026-04-23T16:45:59","slug":"skycity-h1fy22-performance-to-be-impacted-by-land-based-closures","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/skycity-h1fy22-performance-to-be-impacted-by-land-based-closures","title":{"rendered":"SkyCity H1FY22 performance to be impacted by land-based closures"},"content":{"rendered":"\n

However, its igaming business has performed strongly during the first half of the financial year.<\/p>\n\n\n\n\n\n\n\n

New Zealand.-\u00a0SkyCity Entertainment Group<\/strong>\u00a0has shared an update on trading, revealing that earnings have been impacted by the Covid-19 pandemic<\/strong>\u00a0and multiple lockdowns, especially in Auckland. However,\u00a0the company noted a new record for online gross revenue <\/strong>of more than NZ$5m in September.\u00a0<\/p>\n\n\n\n

In the first month of the current financial year, online revenue reached NZ$3m, up 30 per cent year-on-year. In August, it saw a record of NZ$4m when SkyCity’s venues in\u00a0Auckland<\/a>\u00a0and\u00a0Hamilton<\/a>\u00a0were closed due to new Covid-19 restrictions.\u00a0<\/p>\n\n\n\n

The casino operator expects\u00a0revenue from online casino will continue growing\u00a0<\/strong>and estimates the New Zealand market could produce NZ$300m in revenue annually at maturity.\u00a0The company also said tourism-related businesses will continue to be negatively impacted by international border closures in the following months.<\/p>\n\n\n\n

In August,\u00a0SkyCity<\/a>\u00a0revealed the\u00a0closure of its casinos costs the company up to AU$1m (US$727,500) a day<\/strong>. The\u00a0casino 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

For Fiscal Year 2021, the casino operator reported\u00a0a 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.<\/p>\n\n\n\n

Its net profit of AU$156.1m was down 34 per cent <\/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","protected":false},"excerpt":{"rendered":"

However, its igaming business has performed strongly during the first half of the financial year.<\/p>\n","protected":false},"author":176,"featured_media":21929,"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 significant operational impacts on its land-based casinos due to Covid-19 lockdowns, particularly in Auckland. Conversely, its iGaming business demonstrated robust performance, achieving record online gross revenues and projecting the New Zealand online casino market could reach NZ$300m annually at maturity. Despite strong normalised FY21 financial results, the operator withheld detailed earnings guidance due to ongoing pandemic-related uncertainties.","focusai_entities":"SkyCity Entertainment Group","focusai_location":"New Zealand, Auckland, Hamilton, Australia","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (0.9), affiliate_publisher (0.8), investor_analyst (0.95), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NZ iGaming Regulation?","query":"Given the projected NZ$300m annual online casino market, what specific regulatory frameworks or licensing regimes is SkyCity anticipating for New Zealand's iGaming sector?"},{"label":"Capital Allocation Strategy?","query":"How does SkyCity plan to reallocate capital between its recovering land-based assets and its rapidly growing iGaming vertical to optimize shareholder returns in the current uncertain environment?"}],"footnotes":""},"categories":[16336,157],"tags":[1137],"class_list":["post-24609","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\/24609","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=24609"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24609\/revisions"}],"predecessor-version":[{"id":24633,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24609\/revisions\/24633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21929"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}