Casino operator SkyCity Entertainment Group has met dampened expectations, reporting a $33.6m loss for 2022 on the back of an extended lockdown in Auckland where its flagship facility is based.
In results for the year to June posted to the NZX this morning, the company reported revenues of $639m for the year, down nearly a third from 2021. No dividend was announced, but hopes expressed payments to shareholders could resume next year.
The company's Auckland headquarters, whose extensive complex of entertainment venues accounts for the majority of earnings, saw revenues slump 32.3 per cent to $330.6m and its contribution to ebitda drop by half to $100.9m.
Auckland experienced an extensive Covid-related lockdown in the second half of 2021 that shuttered or crimped public-facing businesses in the city. The company said lockdowns had led to its Auckland facility being closed for 107 days during the period.
SkyCity's casino in Adelaide - which last month became the subject of inquiry by South Australian state authorities into compliance with anti-money laundering laws - fared better during the period but still posted revenues of $184.5m, down 6.3 per cent for the year.
