New Zealand operator SkyCity closed its financial year with revenue of $822.7m, down 0.3 per cent on the prior period. The decline reflects the mandatory shift to carded play across New Zealand casinos and lower customer visitation. Non-gaming income partly offset the drop, including the NZICC convention centre, which opened on 11 February.
The centre hosted 141 events over the year and drew around 100,000 visitors. Bookings for the next calendar year stand at approximately 350,000 visits, including several large international conferences.
CEO Jason Walbridge said the company had met the commitments made to shareholders in August last year during the capital raise. Carded play is now live across all New Zealand properties, and the updated SHOW by SkyCity loyalty programme has launched. SkyCity is preparing for the regulated rollout of online gambling in the country and has resolved key issues with the regulator in Adelaide.
The company announced a cost-reduction programme targeting $30m in savings in the next financial year and up to $70m in the period after. Walbridge framed the move as a response to the changing environment and preparation for the online market. Carded play has given the operator detailed visibility into customer activity and tightened responsible-gaming controls.
