SkyCity Entertainment is facing a U.S.-funded class action lawsuit connected to player losses in its Malta-operated SkyCity Online casino, with the legal action mentioning...
SkyCity records profit recovery in 2025
SkyCity Entertainment has shared its results for the year ending June 30, 2025, posting a net profit of NZ$29.2m (US$17m).
Although the number still fell short of market forecasts, it represents a substantial rise over the NZ$143.3m (US$83.4m) loss from the year before.
While underlying net profit dropped 42% to NZ$71.5m (US$41.6m), revenue decreased 5% to NZ$825.2m (US$480m) for the year.
However, EBITDA exceeded projections and was the company’s best performance of the year, rising 56.4% to NZ$216.1m (US$125.7m).
Chief Executive Officer Jason Walbridge commented:
“Our financial results reflect the difficult operating environment we’ve navigated in FY25. The delayed economic recovery in New Zealand has led to lower discretionary spend impacting our business and that has come through the same time as a period of elevated investment. This investment has been centred around regulatory systems upgrades, B3, pre-opening costs for New Zealand International Convention Centre and preparation for online casino gaming in New Zealand.
Despite the softer results, SkyCity has made notable progress. Carded play is now operational across its New Zealand sites, the company received a positive suitability outcome from the Independent Review of SkyCity Adelaide, and preparations are underway for the opening of the New Zealand International Convention Centre in February 2026.
The High Court of Australia has rejected SkyCity's appeal and announced that the company has to pay AU$ 13.1 million in casino duty.SkyCity Entertainment, founded in...
