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SkyCity says under-performing Hollywood movies and smaller summer audiences - combined with the upcoming capital costs of upgrading the chain - led it to reassess profit expectations for the country's biggest cinema chain.
In 2006 SkyCity owned 50 per cent of the company but then paid its partner Village Cinemas $50 million for the other half.
"We make assumptions about the film quality but I think that these have not met out expectations but our valuations were justified," says acting chief executive Elmar Toime.
Are bad movies to blame for downturn? Or a bad cinema experience? Here is the latest selection of Your Views:
