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SkyCity reports 145% decline as a result of pandemic
SkyCity Entertainment Group had a fall of 145% in normalized revenue in the first half of 2022 FY because of pandemic’s restrictions.
The company reports that the beginning of the 2022 FY was also difficult as the business was negatively impacted by the pandemic’s restriction, especially in Auckland where its venue was shut down for 107 days.
As SkyCity notes, the gaming business performs well, though the touristic business faces challenges as a result of border closures.
The online casino profit of the company has seen an increase, reaching 10,000 active users’ milestone for each week.
The chief executive of SkyCity, Michael Ahearne noted:
“The pandemic has a negative impact on the business and its performance in every venue of SkyCity. Our venue in Auckland was shut down for 107 days, Hamilton’s venue got shut down for 65 days, Adelaide venue for 8 days and Queenstown for 22 days. After the reopening, we faced other challenges which include physical distancing and other limitations on mass gatherings. But we managed to overcome the difficulties”.
As Ahearne stated, the business in New Zealand has proved its flexibility and quickness in rebounding after restrictions.