controlled evacuation\u201d <\/em>of the entire precinct, including Sky Tower, SkyCity Auckland Casino, as well as all SkyCity hotels, restaurants and corporate offices. <\/p>\n\n\n\nFurthermore, very fire unit in Auckland rushed to battle the blaze, with additional units called in from neighbouring Hamilton. The thick black smoke quickly spread across Auckland, prompting officials to advise individuals with breathing problems to stay indoors and also switch off their air conditioning.<\/p>\n\n\n\n
The fire continued to burn through the night, fanned by stiff winds, with gusts of over 60 kilometres per hour. <\/p>\n\n\n\n
Fire crews reported that they had no choice but to simply let the fire burn itself out, as the unfinished building didn\u2019t allow firefighters to access the roof without fears that their weight would cause the building to collapse in on itself.<\/p>\n\n\n\n
New Zealand\u2019s Prime Minister Jacinda Ardern will meet with fire and emergency personnel, as well as with SkyCity reps, today.<\/p>\n\n\n\n
What’s next for SkyCity<\/h2>\n\n\n\n
News of the blaze caused SkyCity\u2019s share price to drop as much as 4% on the New Zealand Stock Exchange, although the shares recovered somewhat, closing out Tuesday\u2019s trading down less than 3%.<\/p>\n\n\n\n
In its most recent\u00a0annual financial report, SkyCity indicated that its convention centre \u2013 which was forecast to cost around \u20ac230,4 million \u2013 wouldn\u2019t likely be finished until the end of 2020, with the hosting of its first events to follow early in 2021.<\/p>\n\n\n\n
Lastly,\nand for the time being the cause of the fire remains unknown.
<\/p>\n","protected":false},"excerpt":{"rendered":"
Casino operator SkyCity Entertainment Group\u2019s expansion efforts suffered a major blow after its New Zealand mega-project came to nothing.<\/p>\n","protected":false},"author":133,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SkyCity Entertainment Group's NZ International Convention Center project in Auckland has suffered a significant operational setback due to a major fire, leading to immediate share price volatility. This incident is expected to materially delay the project's completion beyond the initial Q4 2020 target, impacting the operator's strategic diversification into non-gaming assets.","focusai_entities":"SkyCity Entertainment Group, Jacinda Ardern","focusai_location":"New Zealand, Auckland, Hamilton","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Project Completion Outlook","query":"What is the revised project completion timeline for the NZ International Convention Center, and how will this delay impact SkyCity's projected NGR from non-gaming verticals and overall capital expenditure forecasts?"},{"label":"Financial Impact Assessment","query":"What is the comprehensive financial impact of the fire, including reconstruction costs, business interruption losses, and potential penalties, and to what extent are these covered by SkyCity's existing insurance policies?"}],"footnotes":""},"categories":[160,16336,28],"tags":[29,338,1137],"class_list":["post-401","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-australasia-news","category-casino-news","tag-casino","tag-new-zealand","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/401","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\/133"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=401"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/401\/revisions"}],"predecessor-version":[{"id":20355,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/401\/revisions\/20355"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}