SkyCity Entertainment Group Limited (SKC) has released an investor presentation today, including an updated trading guidance.
The presentation reflects an uplift from the New Zealand tourism recovery, partially offset by the negative impact on trading from recent weather events in Auckland.
Electronic gaming machine performance is strong, while table games remain subdued across all properties.
The Group is also experiencing higher legal and compliance costs.
The termination of the Auckland Carpark Concession Agreement is ongoing, with settlement expected to slip to FY24.
The FY23 normalised EBITDA guidance range has been updated to $300m - $310m, excluding carpark earnings.
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