New Zealand · Delayed Price · Currency is NZD SkyCity Entertainment Group Earnings Call Transcripts
Fiscal Year 2026
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Interim FY2026 results met guidance, with revenue down 2.4% and EBITDA down 28% year-over-year, mainly due to regulatory changes and higher costs. NZICC's opening is expected to drive a stronger second half, while asset monetization and cost-saving initiatives remain key priorities.
Fiscal Year 2025
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The AGM addressed a challenging year marked by declining revenues, a major equity raise, and ongoing regulatory remediation. Strategic priorities include asset sales, digital transformation, and the NZICC opening, with dividends to resume after financial stability is restored.
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FY 2025 saw higher visitation but lower revenue and EBITDA due to economic and regulatory pressures. A $240 million equity raise and $200 million in planned asset sales aim to reduce leverage and support growth, with NZICC and online gaming as key future drivers.
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Revenue and EBITDA declined due to lower spend per visit and increased compliance costs, but strong visitation, asset diversification, and disciplined capital management support resilience. Guidance for FY2025 EBITDA was revised down, with no dividend expected, while major growth drivers include the NZICC opening and online gaming regulation.
Fiscal Year 2024
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The meeting addressed challenging trading conditions, regulatory compliance, and a multi-year transformation program. Key initiatives include mandatory carded play, new leadership, and major capital projects, with dividends suspended until financial stability is restored.
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FY24 saw flat revenue but an 8% drop in underlying EBITDA, with reported losses due to impairments and regulatory settlements. Regulatory compliance and transformation programs are underway, with mandatory carded play expected to impact uncarded gaming revenue by 15–20%.