relaxation of operating restrictions during the final quarter of the 2022 financial year, SkyCity has seen the strong performance from its local gaming businesses in New Zealand continue into the 2023 financial year and improved performance from SkyCity Adelaide. SkyCity’s tourism related businesses continue to recover and are benefiting from positive domestic visitation particularly during weekend and holiday periods.
“Provided there are no material changes to the current operational environment/settings and trading conditions, SkyCity sees a credible pathway for a return to pre-Covid-29 earnings during FY23, underpinned by the ongoing recovery of local gaming, particularly in New Zealand, optimising SkyCity Adelaide’s post expansion and the reopening of international borders and robust cost control to counteract inflationary pressure on costs.”
CHRISTCHURCH CASINO at one time was partly owned by SkyCity and first opened in 1994 and was New Zealand’s first landbased casino. It closed in 2011 due to an earthquake and SkyCity sold its 50 per cent share in 2012 when they took full control of the Queenstown casino.
SkyCity has been operating an online casino platform since 2019 which features more than 2,000 online games. This bypasses New
Zealand’s strict laws making it illegal for online gambling
to be provided in the country, except via two authorised
providers – Lotto NZ and the TAB. However, New
Zealanders are permitted to gamble offshore.
Te casino today has 450 slots and 32 gaming tables. Tere are restaurants and bars on site and a VIP and poker lounge. Gaming revenues were $45.4m in FY2022 whilst the casino saw an operating profit of $16.5m.
Skyline Enterprises mainly operates leisure
activities (mostly ziplines and cable cars) in both New Zealand and overseas with projects in Singapore, Kuala Lumpur, Malaysia, Canada, and the UK.
Finally GRAND CASINO is located in the Southern Cross Hotel which one of the oldest buildings in Dunedin dating back to 1883. Te casino, previously called Dunedin Casino, opened in 1999 and it offers 180 slots and 12 table games plus the Grand Bar & Café. It was re-branded as the Grand Casino in 2021 and is elegantly designed with a sweeping grand staircase which leads up to the gaming floor and grand glass dome. It is operated by Dunedin Casinos Management and applied for its licence renewal last year.
ONLINE GAMBLING
SkyCity has been operating an online casino platform since 2019 which features more than 2,000 online games.
Tis bypasses New Zealand’s strict laws making it illegal for online gambling to be provided in the country, except via two authorised providers – Lotto NZ and the TAB. However as New Zealanders are permitted to gamble on offshore
WIRE / PULSE / INSIGHT / REPORTS P73
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