SkyCity expects first-half profit to rise as much as 30%

SkyCity expects first-half profit to rise as much as 30%
Tina Morrison
By Tina Morrison Jan. 19 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's only listed casino company, expects first-half profit to rise as much as 30 percent as it benefits from improved trading in New Zealand, higher turnover from 'high roller' gamblers, reduced costs at its struggling Adelaide property, and lower funding costs. Net profit will be between $69 million and $71 million in the six months ended Dec. 31, from $54.6 million in the year-earlier period, the Auckland-based company said in a statement. Earnings before in...