SkyCity’s revenue falls as net profits drops in 2020-21

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SkyCity

SkyCity, a New Zealand operator, has announced revenue figures for its 2020-21 fiscal year ending 30 June, of NZ$959.2m (US$667.5m). It was a 17.6 percent decrease from the previous year.

Gaming revenue from its casinos increased from NZ$530.8m to NZ$579.6m, while non-gaming revenue increased from NZ$127.8m to NZ$579.6m. Online revenue was $13.1 million and revenue from the New Zealand International Convention Centre was NZ$170.7 million. Other sources also contributed NZ$28.4 million.

“The financial result for the year had property closures and other restrictions due to COVID-19. This limited comparability with the prior comparable period,” said Sky City chair Rob Campbell and CEO Michael Ahearne. Over the period, SkyCity has also benefited from government responses in the form of wage subsidies and other assistance measures, a portion of which SkyCity has chosen to repay in light of improved financial performance.

 

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Nassima Azmzm

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