SkyCity expecting modest growth in FY18

Casino operator SkyCity Entertainment Group says it expects “modest growth” for the 2018 financial year, based on year-to-date figures.

Normalized revenue for the first four months of the financial year rose 1.7 percent – due in part to a 3.1 percent gain from its domestic business, said the company in a UBS Investor Conference on Monday.

SkyCity said its NZ properties have been doing well, particularly in Auckland.

The operator said it also has seen improved premium gaming activity in Adelaide following the implementation of new gaming concessions.

However, it noted that the trading environment remains soft for its Darwin property.

“Based on YTD performance, remain on-track to achieve modest growth in group EBITDA in FY18, in-line with previous guidance,” said the company.

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