Adelaide

SkyCity’s new hotel and casino in Adelaide is to be named after Eos, the goddess of the dawn in Greek mythology. Eos by SkyCity Adelaide...

A major expansion of Adelaide Casino has moved a step closer after SkyCity Entertainment lodged plans for the exterior design of the development with...

Gaming Laboratories International Australia has announced Andrew Campbell as manager of compliance and quality assurance following continued growth in the region, especially in the...

Standard & Poor's Ratings Services has assigned its 'BBB-' rating to SkyCity Entertainment's NZ$100 million ($64.8 million) seven-year bonds. The unsecured, fixed-rate bonds, which will...

SkyCity Entertainment reported normalised revenue of NZ$1 billion ($657 million) for the full year ending June 30, 2015, up 8.7 percent on the previous...

SkyCity Entertainment Group is optimistic about its prospects, but analyst reactions to its latest results have been lacklustre, while a major project designed to boost growth at home is facing difficulties. The company, which operates four casinos in New Zealand and two in Australia, is facing stagnant growth in its home market, while competition is set to mount in Australia. Overall in the 2013/2014 financial year New Zealanders spent $1.54 billion on the four main forms of gambling, an increase of less than one percent, while casino spending fell 2.1 percent. The company reported a flat profit of $66.6 million ($49 million) in its six monthly results on Wednesday, but also pointed to its increasing investment in Australia and its growing international business. SkyCity offered no full-year profit guidance, and its major capital investment project – an international convention centre in Auckland – is now in considerable doubt.

The rating on SkyCity Entertainment Group’s shares has been downgraded from hold to sell by analysts from Deutsche Bank and Craigs Investment Partners, reflecting...