Monday, March 1, 2021

SkyCity sees international growth, but clouds gather over Auckland project

SkyCity Entertainment Group is optimistic about its prospects, but analyst reactions to its latest results have been lacklustre, while a major project designed to boost growth at home is facing difficulties. The company, which operates four casinos in New Zealand and two in Australia, is facing stagnant growth in its home market, while competition is set to mount in Australia. Overall in the 2013/2014 financial year New Zealanders spent $1.54 billion on the four main forms of gambling, an increase of less than one percent, while casino spending fell 2.1 percent. The company reported a flat profit of $66.6 million ($49 million) in its six monthly results on Wednesday, but also pointed to its increasing investment in Australia and its growing international business. SkyCity offered no full-year profit guidance, and its major capital investment project – an international convention centre in Auckland – is now in considerable doubt.

Vietnam prepares for airport and casino developments

A senior Vietnamese official has confirmed that he has asked local authorities to clear a site at the Van Don Economic Zone to prepare...

SkyCity interim profit dips on weak Australia operations

SkyCity Entertainment Group, which operates six casinos in Australia and New Zealand, has reported a small decline in net profit after tax in its...

Venetian ad featuring soccer star Beckham put on hold

The Venetian Macau has scrapped a high-profile ad campaign featuring English soccer star David Beckham just two days before its launch. The Venetian Macau announced...

South Korea plans Incheon airport tourism project

South Korea is planning a tourism project at Incheon Airport to emulate Resorts World Sentosa in Singapore, with the aim of attracting more Chinese...

NZ PM says SkyCity center needs more government money

New Zealand’s prime minister says Auckland’s SkyCity convention center will be an “eyesore” unless the government pumps more cash into the project. Local media reported...

Nepali casinos begin reopening

Casinos in Nepal are planning to reopen almost a year after they closed after failing to meet regulations laid out by the government in...

Macau smoking ban expected next year

Macau’s casinos are expected to be completely smoke free next year, according to the Health Bureau’s tobacco prevention director. Tang Chi Ho said the government...

Silver Heritage casino opens in Nepal

Silver Heritage Limited has started operating The Millionaire’s Club & Casino at Shangri La Hotel in Kathmandu, Nepal, according to local media. The new boutique...

Melco Crown calls City of Dreams Manila opening a company “milestone”

Melco Crown Entertainment held the gala opening of its $1.3 billion City of Dreams integrated resort in Manila on Monday, saying it’s an important...

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