SkyCity downgrades earnings forecast as conditions deteriorate

6th May 2025 By Staff Reporter | news@propertyticker.co.nz | @propertyticker

SkyCity Entertainment Group says it now expects its full year group earnings to fall to around 4% below the bottom of the current guidance range of $225m to $245m.

“Visitation continues to hold steady across all our precincts,” said the casino and hotel operator, which added that spend per visit across the group also continued to fall.

“Auckland has seen reduced spend per visit across both its hospitality and gaming businesses, whilst Hamilton and Queenstown casinos have continued to perform broadly in line with group expectations.”

Chief executive Jason Walbridge said: “Notwithstanding these challenging conditions, we remain optimistic that as consumer confidence returns and spend begins to lift, SkyCity is well placed to maximise the opportunities in front of us, like the New Zealand International Convention Centre opening in February 2026.”