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.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
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The Philippine Gaming and Amusement Corp (PAGCOR) remitted PHP17 billion ($354 million) to the Bureau of the Treasury in 2020 to help the government fight the Covid-19 pandemic.
The Yokohama City Council has begun its deliberations on whether or not to hold a popular referendum on IR development. Despite gaining more than three times the needed number of resident signatures, Mayor Fumiko Hayashi has asked that the referendum be rejected.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
