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SkyCity earnings recovering faster than expected: S&P

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SkyCity Entertainment’s earnings are recovering faster-than-expected from the Covid crisis, said Standard & Poors in a note raising its credit outlook to stable from negative.

“We anticipate earnings in the fiscal year ending June 30, 2021, will recover to at least 75% of fiscal 2019 levels,and approach near normalized levels in fiscal 2022,” it said.

“The improvement will likely be supported by the strong recovery in gaming and non-gaming revenue, primarily at the company’s Auckland and Adelaide assets.”

New Zealand’s SkyCity was the first major operator in the Asia Pacific region to reopen its doors after the crisis.

Sharon Singleton
Sharon Singletonhttps://agbrief.com/about-asia-gaming-brief/
Sharon Singleton is a multi-media reporter with experience ranging from website management to reporting and editing for newspapers, news agencies and television. As Managing Editor she's been working with Asia Gaming Brief since 2013 and her specialties are: Business, current affairs, fluent in Italian, French, with working knowledge of Spanish.

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