one of the first operators to resume operations<\/a><\/em><\/strong> in the Asia Pacific region but it continues to feel the impact of the pandemic.<\/p>\n\n\n\nThe group has said its gaming business has picked up faster than other areas such as the hotel and food and beverages outlets.<\/p>\n\n\n\n
It said in an email quoted by Agbrief: \u201cAs with so many businesses in New Zealand, the COVID-19 crisis has fundamentally changed the SkyCity business for the foreseeable future. To reflect this, we have right-sized our operations to be a smaller, domestically focussed business, as previously disclosed.<\/p>\n\n\n\n
“SkyCity has experienced a decline in revenue over the past forty days of more than 40 percent and we have applied for the wage subsidy extension to ensure we can sustain our employee base until business returns to previous levels.”\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
New Zealand’s SkyCity has now received a total NZ$31 million in wage subsides during the pandemic crisis.<\/p>\n","protected":false},"author":2,"featured_media":8396,"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 has received an additional NZ$9.4 million in wage subsidies, bringing its total pandemic-related government support to NZ$31 million, following a revenue decline exceeding 40%. The operator, which has \"right-sized\" its operations to be more domestically focused, notes its gaming business is recovering faster than its hospitality segments, despite ongoing pandemic impacts.","focusai_entities":"SkyCity, SkyCity Entertainment Group, Agbrief","focusai_location":"New Zealand, Australia, Asia Pacific","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Subsidy Impact Analysis","query":"What is the projected long-term impact of these government wage subsidies on SkyCity's capital structure and its ability to achieve pre-pandemic GGR levels without further state aid?"},{"label":"Operational Restructuring Efficacy","query":"How will SkyCity's \"domestically focused\" and \"right-sized\" operational strategy impact its market share in the Asia Pacific region and its competitive positioning against other regional operators?"}],"footnotes":""},"categories":[16336,157,158],"tags":[338,1137],"class_list":["post-8394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-new-zealand","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8394","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8394"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8394\/revisions"}],"predecessor-version":[{"id":8403,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8394\/revisions\/8403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8396"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}