SkyCity Entertainment Group’s underlying EBITDA fell 22.3 percent year-on-year to NZ$181.6 million ($107.7 million) in fiscal 2026, as weaker casino revenue and rising costs offset growth across its non-gaming businesses.
Underlying revenue edged down 0.3 percent to NZ$822.7 million ($487.9 million) for the year ended June 30th, according to results released by the New Zealand casino operator on Thursday.
Group gaming revenue declined 5.9 percent, reflecting the rollout of carded play, weaker premium play and lower visitation and spending during the fourth quarter.
Non-gaming revenue rose 13.4 percent, led by the February opening of the New Zealand International Convention Centre (NZICC), alongside growth in hotel and food and beverage operations.
Operating expenses increased 8.4 percent due to NZICC costs, investment in online gaming, higher labor expenses and spending on technology and compliance.
Reported net profit after tax declined 37.6 percent to NZ$18.2 million ($10.8 million), while underlying net profit fell 46.9 percent to NZ$38 million ($22.5 million).
At SkyCity Auckland, gaming revenue dropped 11.3 percent to NZ$317.2 million ($188.1 million). This was partly offset by a 16 percent increase in non-gaming revenue to NZ$181.4 million ($107.6 million).
The Auckland property’s underlying EBITDA fell 14.2 percent to NZ$179.8 million ($106.6 million).
The NZICC hosted 141 events and recorded approximately 100,000 visits between its opening on February 11th and the end of the financial year. SkyCity said the venue has a pipeline of events expected to attract about 350,000 visits in FY27.
In Adelaide, underlying EBITDA declined 31.5 percent to A$19.5 million ($13.9 million), despite broadly stable revenue. SkyCity recorded an A$43 million ($30.6 million) write-down on the property and plans to begin a strategic review during the first half of FY27.
The group did not provide FY27 guidance due to macroeconomic uncertainty. It is targeting NZ$30 million ($17.8 million) in cost savings during the year while continuing preparations to participate in New Zealand’s regulated online casino market.
