SkyCity's annual profit dips as high rollers win more than expected

Tue, 13 Aug 2019

By Rebecca Howard Aug. 14 (BusinessDesk) - SkyCity Entertainment Group’s full year net profit dipped as it faced a bigger tax bill and ended up paying more than expected to lucky high rollers but underlying earnings beat expectations. The company reported net profit fell 14.7 percent to $144.6 million in the 12 months ended June 30 due to a casino win rate in international business of 1.00 percent, below the theoretical win rate of 1.35 percent. Profit was also dented by a $6.5 million increase in effective tax rate and it reaped just ...

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