SkyCity's profits drop in year of 'considerable upheaval'

This is the first set of full-year results fronted by SkyCity's new chief executive Jason Walbridge. (Image: NZME)

Thu, 22 Aug 2024

A year ago SkyCity was touting a post-covid turnaround ahead, but financial results reveal that turnaround went into reverse.Revenues have increased, but profits have fallen, and regulators are clamping down.SkyCity reported a total net loss of $143.3 million, a significant decrease on last year's profit of $8m.Revenues were close to stationary but up from $926m last year to $928.5m; underlying revenue increased from $957m to $959.6m on June 30 compared to the same time a year ago.However, profits and earnings before interest and tax were d...

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