{"id":777046431,"date":"2026-08-20T08:25:22","date_gmt":"2026-08-20T11:25:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777046431"},"modified":"2026-08-20T08:25:39","modified_gmt":"2026-08-20T11:25:39","slug":"skycity-considers-adelaide-casino-sale-amid-profit-fall","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/skycity-considers-adelaide-casino-sale-amid-profit-fall","title":{"rendered":"SkyCity considers Adelaide casino sale amid profit fall"},"content":{"rendered":"\n

The New Zealand casino operator is reviewing its Adelaide business as part of a strategic review.<\/p>\n\n\n\n\n\n\n\n

New Zealand.- SkyCity Entertainment Group<\/strong> has reported a 38 per cent fall in net profit for the year ended June 30 and launched a strategic review of its Adelaide casino<\/strong>. <\/p>\n\n\n\n

The casino operator reported NZ$18.2m (US$10.7m) in full-year net profit, down from NZ.2m (US$17.2m) a year earlier. Revenue increased 6.5 per cent to NZ8.9m (US$518m), while underlying profit fell 47 per cent to NZ$38m (US$22.4m).<\/p>\n\n\n\n

SkyCity said it cut NZ$30m (US.7m) in costs during the past financial year and is targeting NZ$70m (US$41.3m) in annualised savings by FY28<\/strong>. This could result in up to 250 job cuts<\/strong>, with most of the roles at risk expected to be in Auckland.<\/p>\n\n\n\n

The company has also started a strategic review of SkyCity Adelaide<\/strong>. Chief executive Jason Walbridge<\/strong> said a sale of the Australian casino is a possible option, although no decision has been made.<\/p>\n\n\n\n

At the same time, SkyCity is aiming to enter New Zealand\u2019s regulated online gambling market. The company is preparing for the upcoming licensing process<\/a>, with licence auctions expected later this year ahead of a launch in early 2027.<\/p>\n\n\n\n

Walbridge said the company\u2019s priority is to return to positive cash flow before considering the reinstatement of dividends. SkyCity did not provide a profit outlook for FY27.<\/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 enters agreement to sell The Grand Hotel in Auckland<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The New Zealand casino operator is reviewing its Adelaide business as part of a strategic review.<\/p>\n","protected":false},"author":680,"featured_media":777046433,"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 38% decline in net profit and a 47% fall in underlying profit for FY24, despite a 6.5% revenue increase. The company has initiated a strategic review of its SkyCity Adelaide casino, with a potential sale under consideration, alongside significant cost-cutting measures and up to 250 job reductions. Concurrently, SkyCity is preparing to enter New Zealand's forthcoming regulated online gambling market, targeting a 2027 launch following anticipated licensing auctions.","focusai_entities":"SkyCity Entertainment Group, Jason Walbridge","focusai_location":"New Zealand, Adelaide, Auckland, Australia","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Adelaide Casino Divestment?","query":"What are the strategic implications and potential valuation impacts of SkyCity's review and possible divestment of its SkyCity Adelaide casino asset on its broader portfolio and capital structure?"},{"label":"NZ Online Market Entry?","query":"How will SkyCity's planned entry into New Zealand's regulated online gambling market, including the anticipated licensing process and 2027 launch, influence its long-term GGR projections and competitive positioning?"}],"footnotes":""},"categories":[16336,157],"tags":[338,1137,25309,24411],"class_list":["post-777046431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-new-zealand","tag-skycity","tag-skycity-adelaide","tag-skycity-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777046431","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\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777046431"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777046431\/revisions"}],"predecessor-version":[{"id":777046440,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777046431\/revisions\/777046440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777046433"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777046431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777046431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777046431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}