SkyCity profit grows

Credits: newstalkzb.co.nz
Credits: newstalkzb.co.nz

New Zealand casino company SkyCity revealed positive results for its net income.

New Zealand.- Casino operators SkyCity Entertainment Group revealed the complete report of financial operations addressing transactions for the half year ended December 31, 2017. According to the official statement, the New Zealand company grew 11.6 per cent in its net profit in comparison with the same period of 2016.

SkyCity Entertainment Group’s net profit achieved a total of NZ$93.5 million (US$67.6 million), whilst the complete revenue reached NZ$554.7 million (US$400.17), which represents a total increase of 4 per cent. Meanwhile, the company’s EBITDA was set at NZ$180.8 million (US$130.47), which shows a growth of 4 percent year-on-year.

“SkyCity said the key drivers of performance in the period was modest growth in combined NZ properties, growth in international business, stable performance from combined Australian properties, lower net interest expense due to increased capitalized interest on major growth projects, and a stronger Australian dollar to New Zealand dollar,” revealed the official report published by AGBrief.

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