SkyCity New Zealand

SkyCity Entertainment’s New Zealand properties will be able to shed their restrictions on mass gatherings and physical distancing from today (April 14, 2022), following a further easing of alert level from red to orange. 

According to a filing from SkyCity to the Australian stock exchange, under the orange setting, mask-wearing is required for staff, but not customers, and there is no requirement to provide proof of Covid-19 vaccination nor scanning or QR codes at entry. 

The company also noted that the operating restrictions at its Australian Adelaide casino continue to be progressively relaxed, with no density or social distancing requirements currently. 

There are still some capacity limits on table games, but this has been eased to six (from three), and back betting is now allowed. Mask wearing is also no longer required for staff or customers from April 15, 2022.

Looking ahead, SkyCity said whilst the first four months of the year have been significantly disrupted by Covid-19 disruptions, trading continues to improve, particularly in local gaming. 

It has maintained positive EBITDA and cash flow over the period and has seen steady improvement in visitation across its New Zealand properties. 

Weekend EGM activity in Auckland and Hamilton has reached pre-Covid levels as of April 2022. 

There’s been subdued performance from SkyCity Adelaide overall, but its seen positive hotel occupancy and local VIP EGM activity as domestic tourism recovers. 

Its online casino has also performed consistently, with monthly revenue and EBITDA compared to the six months ended December 31, 2021.