SkyCity Entertainment Group, the casino and hotel operator, said full-year profit is expected to be "in the $140 millions", in line with the 2012 result, with Darwin seen as a standout in otherwise flat trading conditions.
The shares fell 2.5 per cent to $3.85 on the NZX today and have gained 13 per cent this year. Normalised net profit, which strips out one-time items and adjusts for its theoretical win rate, was $141.4 million in the year ended June 30.
Nigel Morrison told shareholders at their annual meeting today that it would be "somewhat challenging" to match last year's first-half result, which got a boost from the Rugby World Cup. Still, based on current market conditions and trading patterns "we would be disappointed if we did not deliver full-year normalised group NPAT for the year ended 30 June 2013 in the $140 millions."
In the year to date, July 1 to October 17, sales at the company's main Auckland casino fell 4.9 per cent to $146.1 million, with about $7 million of RWC revenue that wasn't repeated. Hamilton sales rose 14.2 per cent to $17.6 million and the rest of the New Zealand business rose 20.5 per cent to $4.5 million.
For the Australian casinos, Adelaide revenue rose 0.5 per cent to A$49.6 million and Darwin rose 12.4 per cent to A$44.2 million.