SkyCity Auckland closed for 5 days starting today
Starting today, August 9, SkyCity Auckland will be closed for 5 days, till September 13.SkyCity Entertainment, founded in 1996, is a gambling and entertainment company...
SkyCity hits $928.5m in Q2 despite a tough year
SkyCity announced its Q2 results, highlighting the rise of its operating revenues to 0.3%.
SkyCity Entertainment, founded in 1996, is a gambling and entertainment company based in Auckland, New Zealand. Talking about its Q2 results, the operator marked its $928.5m reach against the $955.2m it had in 2023. This reach of $928.5m is equal to NZ$959.6m.
On the contrary to revenues, EBITDA results saw a decrease of 16.7%, equal to $138.2m.
CEO Jason Walbridge commented:
“I am confident SkyCity is set up to build on our amazing business, with a number of important and exciting milestones coming down the pipeline in the next 12 months.”
SkyCity has had a tough financial year, grappling with a weak economy, rising living costs in New Zealand and Adelaide, and navigating a range of regulatory challenges. Previously, SkyCity submitted an announcement regarding its Adelaide performance.
FAQs
What does SkyCity do?
A gambling and entertainment company SkyCity Entertainment Group owns and operates five casino properties in New Zealand and Australia, including a variety of restaurants and bars, three luxury hotels, a convention centre, and Auckland’s Sky Tower.
Why did SkyCity’s EBITDA decrease despite revenue growth?
SkyCity had to address various regulatory issues, which could have incurred additional costs or operational disruptions, further impacting its EBITDA.
What issues or challenges has SkyCity faced during the year?
During 2024, SkyCity faced various economic issues and regulatory challenges, including its closure for 5 days, and the results following it.
Share:
SkyCity EBITDA stays steady despite Adelaide challenges
SkyCity insists that Adelaide Casino will not affect its full-year adjusted EBITDA.Based in Auckland, New Zealand, Sky City Entertainment Group, simply known as SkyCity,...
