{"id":777030633,"date":"2025-08-21T08:20:34","date_gmt":"2025-08-21T11:20:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777030633"},"modified":"2026-04-21T19:56:05","modified_gmt":"2026-04-21T22:56:05","slug":"skycity-annual-profit-drops-42","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/skycity-annual-profit-drops-42","title":{"rendered":"SkyCity annual profit drops 42%"},"content":{"rendered":"\n

SkyCity has announced a NZ$240m (US$140m) equity raising.<\/p>\n\n\n\n\n\n\n\n

New Zealand.- SkyCity Entertainment Group<\/strong> has reported figures for the full fiscal year 2025. It posted revenue of NZ$825.2m ($480.93m)<\/strong>, down 5 per cent in year-on-year terms, due to \u201clower spend per visit and higher VIP customer churn in Adelaide.\u201d <\/p>\n\n\n\n

Earnings before interest, tax, depreciation and amortisation (EBITDA<\/strong>) was up 56.4 per cent to NZ$216.1m (US$125.9m), in large part due to a NZ$139m (US$81m) significant one-off item in fiscal 2024. The company\u2019s underlying net profit<\/strong> was down 42 per cent to NZ$71.5m (US$21.6m) mainly due to the settlement of a South Australian casino<\/a> duty, a NZ$94m writedown on the value of Adelaide Casino and NZ$130m tax adjustment.<\/p>\n\n\n\n

The company\u2019s CEO, Jason Walbridge<\/strong>, said: \u201cOur financial results reflect the difficult operating environment we\u2019ve navigated in FY25. The delayed economic recovery in New Zealand has led to lower discretionary spend impacting our business and that has come through the same time as a period of elevated investment\u201d.<\/p>\n\n\n\n

SkyCity has announced a NZ$240m (US$140m) equity raising<\/strong>. This includes an NZ$81m (US$47.21m) institutional placement and a NZ$159m (US$92.67m) pro-rata entitlement offer. It will issue 343 million new shares, amounting to approximately 45.1 per cent of existing shares.<\/p>\n\n\n\n

Walbridge said: \u201cOur announcement today, to raise NZ$240m of equity, will improve our financial stability in the current market conditions and provide us with the right foundations to step prudently into the opportunities that are ahead of us. We know what we need to do and we\u2019re leaning into it.\u201d<\/p>\n\n\n\n

SkyCity said that it expects to report EBITDA of between NZ$170.6m (US$99m) and NZ$190.6m (US$111m) in full-year 2026.<\/p>\n\n\n\n


<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> SkyCity halts trading amid capital raise talks<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

SkyCity has announced a NZ$240m (US$140m) equity raising.<\/p>\n","protected":false},"author":226,"featured_media":17432,"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 5% revenue decline for FY25, primarily attributed to reduced discretionary spend and VIP customer churn, despite a significant EBITDA increase driven by a one-off item. Concurrently, the company announced a NZ$240m equity raising, comprising an institutional placement and a pro-rata entitlement offer, to bolster financial stability amidst challenging market conditions and facilitate future strategic opportunities.","focusai_entities":"SkyCity Entertainment Group, Jason Walbridge","focusai_location":"New Zealand, Adelaide, South Australia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Capital Structure Impact","query":"What is the projected impact of this NZ$240m equity raising on SkyCity's debt-to-equity ratio and its capacity for future strategic investments or M&A activities within the iGaming and land-based casino sectors?"},{"label":"Market Conditions Mitigation","query":"How does SkyCity's reported decline in discretionary spend and VIP churn in New Zealand and Adelaide compare to broader regional gaming vertical trends, and what specific operational adjustments are planned to mitigate these pressures?"}],"footnotes":""},"categories":[16336,163],"tags":[24619,1137],"class_list":["post-777030633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-finance","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777030633","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777030633"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777030633\/revisions"}],"predecessor-version":[{"id":777030668,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777030633\/revisions\/777030668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17432"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777030633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777030633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777030633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}