SkyCity announces NZ$560 million in additional liquidity: debt and equity
New Zealand’s SkyCity Entertainment Group has announced a series of liquidity-focused initiatives, including NZ$230 million in new equity, aimed at strengthening the company’s balance sheet as it emerges from the COVID-19 pandemic. The new equity will comprise a NZ$180 million...
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New Zealand casinos among world’s first to ditch all COVID-19 restrictions
New Zealand’s SkyCity Entertainment Group will resume full and unrestricted operations from today after the government dropped the nation’s COVID-19 Alert Level down to Level 1, effectively removing all restrictions except border restrictions. New Zealand has now gone more than...
SkyCity says New Zealand casinos “cash positive” after COVID-19 reopening
New Zealand’s SkyCity Entertainment Group has revealed its casinos in Auckland and Hamilton have been “profitable and cash positive” since reopening on 14 May following a seven-week closure due to coronavirus. In a trading update detailing the company’s progress over...
SkyCity to reopen New Zealand casinos this week
SkyCity Entertainment Group has announced it will reopen its casinos in Auckland, Hamilton and Queenstown this Thursday 14 May after the New Zealand government dropped its COVID-19 alert level to “Level 2”. The properties, which have been closed since late March,...
SkyCity restarts development projects, eyes New Zealand casino openings within two weeks
New Zealand’s SkyCity Entertainment Group says it has reactivated a number of key development projects at its domestic properties this week after the government dropped the nation’s COVID-19 Alert Level down to Level 3. No development works were permissible during...
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Skycity to lay off 200 staff on monthly revenue loss of NZ$90 million
New Zealand-based casino operator Skycity Entertainment Group has announced that it will lay-off 200 staff and cease a majority of capital expenditure projects indefinitely in order to reduce costs. The measures come in response to government directives that have seen...
SkyCity feels impact of Auckland fire as normalized revenue down 7.9% in 1H20
A substantial one-off gain from the sale of its Auckland car park concession has driven New Zealand’s SkyCity Entertainment Group to a 75.4% increase in revenue to NZ$721.7 million for the six months to 31 December 2019, with net profit...
SkyCity says insurance confirmed to cover costs of Auckland convention center fire
SkyCity Entertainment Group Limited says its insurers have confirmed that the company’s contract works insurance policy will respond in relation to damage to the under-construction New Zealand International Convention Centre (NZICC) and Horizon Hotel from a fire that broke out...
