New Zealand’s SkyCity Entertainment Group has released its financial results for FY 2022 revealing a loss of NZ$33.6 million (€20.1 million).
SkyCity Entertainment Reports NZ$33.6 Million Loss For FY 2022This included a 32.3% decline in revenue at SkyCity Auckland to NZ$330.6 million (€206.5 million) as well as a 23.5% decline at SkyCity Hamilton to NZ$56.2 million (€35.1 million) and a 16.9% decline at SkyCity Queenstown to NZ$10.2 million (€6.3 million). SkyCity’s only Australian property in Adelaide saw a smaller decline of 6.3% to AU$184.5 million (€128.8 million).
However, the company did report that its overall international business was EBITDA positive in the second half of FY 2022 while the company’s iGaming division reported a rise of 28.8% in revenue while EBITDA grew by 41.7% year-on-year.
In a statement issued alongside the results the company said:
“Following the 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.
SkyCity Entertainment Reports NZ$33.6 Million Loss For FY 2022
