SkyCity cuts forecasts for the year

SkyCity Entertainment, New Zealand’s only listed gaming company, has cut forecasts for the year and says the near-term outlook is gloomy, as it grapples with the aftermath of a fire in a key project and now the impact of the coronavirus.

The operator, which has properties in both New Zealand and Australia, hit the headlines in October after a fire devastated the Auckland International Convention Centre, whose completion will now be delayed until 2022. The company reported a more than 16 per cent drop in normalised profits in the half year to December 31.

Source: Asia Gaming Brief