SkyCity Entertainment Publishes Its Annual Financial Results

The giant Aussie casino corporation, the SkyCity Entertainment group has issued its fiscal results that cover the 12 months that ended on June. These numbers witnessed an improvement of 13.1 percent in net profit after tax, which totaled 145.7 million. As for the total revenues, it increased by 7.6% to each 1.1 billion. This Auckland based company is the entity responsible for 4 casinos in New Zealand, as well as 2 casinos in Australia.

The Interim CEO of SkyCity Entertainment, John Mortensen, has claimed that these improved numbers were a result of the firm's Auckland facility performance, as it witnessed record setting activity from high rollers from around the world. According to his statement, the financial year was a great success, as it followed on from the great momentum that the company had during the previous fiscal year. He added that the strong results, financially, were scored across most of the business' fields and that great progress has occurred on the major growth projects of the Group in Adelaide and Auckland.

He also added that they have invested time and money to keep supporting the communities they are in, to further enhance their corporate responsibility activity. This aims to reflect the commitment to being a responsible corporate citizen, and simultaneously operate a successful and a sustainable business model.

It was declared by the group that the casinos in New Zealand are certainly benefitting from the record migration and tourism numbers. On the other hand, the Auckland SkyCity Complex has received a great push thanks to the new concessions for games, which included an additional number of gaming machines as well as cashless technology for payments.

The continuous momentum of the Auckland complex reflects the investments carried out by the group in that property during the last few years. These investments included initiatives that aimed to drive the incremental visitation through external factors and customer segmentation.

While excluding SkyCity Entertainment Group's international business, the Auckland Venue of the group, has accounted for eighty-five percent of its recent earnings before tax and interest. It witnessed an increase of 8.2% when compared to the previous 12 months, to reach 195.2 million. On the other hand, the New Zealand business of the group, which includes the Wharf, Queenstown, and the Hamilton casinos, they also witnessed an increase in yearly earnings, but only 1% to total 16.2 million.

The statement also added that while the company is pleased with the improved performance of the SkyCity Adelaide business, but there are still some challenges, as they deliver local gaming growth in the soft market of Adelaide. Lastly, the statement added that developing and growing the company’s share of the local machine gaming market in the SA (South Australia) territory is the key focus for the upcoming fiscal year.