Australian minister plans huge fine increase for SkyCity
Minister for Australian Consumer and Business Services Andrea Michaels wants to amend the legislation to increase the penalties for Adelaide's casino operator. She wants...
SkyCity deals with post-covid situation
SkyCity Entertainment Group reports its most recent financial results showing that the region has faced some challenges in this hard post-covid period.
According to the reports, New Zealand casino operators are seeing a decrease in their incomes.
After the lockdown many casinos started having positive results despite Macau, as the region keeps having new covid breakdowns. SkyCity was also having some problems because of the ongoing coronavirus and that is why it lost more than thirty million NZ dollars.
In accordance with the New Zealand Department of Internal Affairs, during spring of 2021, the gaming industry had some good results. During this fiscal year the gaming sector saw 17% improvement, as 2.63 million NZ dollars were spent in the region.
However, SkyCity, which is a target for many regulators, hasn’t had this kind of success. It saw a 32.9% annual decline in profit.
It is known Auckland’s casinos were closed for 107 days and as a result of that the gaming sector had a 32.3% decrease, amounting to 330.6 million NZ dollars.
Additionally, SkyCity had a 23.5% decrease in profit to 56.2 million NZ dollars.
Even though the region had a tough fiscal year, its business keeps growing, as the income of the gaming field was up by 28.8%. According to them if things do not change, everything will soon be like it was before the pandemic.
SkyCity’s Michael Ahearne to leave CEO position
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