SkyCity profit down 76% on fire, pandemic impacts

SkyCity is still paying for 2019's blowtorch incident at the NZICC.

Thu, 18 Feb 2021

Covid lockdowns and 2019's fire at the New Zealand International Convention Centre conspired to slice 76.1% from SkyCity Entertainment's net profit after tax for the six months to December 2020, to $78.4 million from $328m for the comparable 2019 period.Revenue was $449.9m, below forecasts by Forsyth Barr analyst Chelsea Leadbetter who had been looking for a $490.9m including gaming GST.Chief executive Michael Ahearne said while the gaming performance had remained positive, at about 95% of the comparable period, tourism interests in hot...

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