SkyCity has reported a full year loss of $143.3 million, on flat revenue growth of $928.5m.
The casino operator's bottom line was eroded by a number of extraordinary items, including a more than $94m [https://www.rnz.co.nz/news/business/525561/skycity-warns-shareholders-of-94-point-3m-writedown
writedown in the value of Adelaide Casino's assets] and a tax adjustment of nearly $130m.
When these items were excluded the company made an underlying net profit of $123.2m, in the year ended June, which was 7.2 percent down on the year earlier.
Chief executive Jason Walbridge said it was a solid result given the economic circumstances, with cost of living pressures in New Zealand and Adelaide, as well as ongoing regulatory issues.
SkyCity said the Auckland casino will be closed for five days next month, after admitting to breaches of host responsibility requirements, but did not specify the dates.
However, the company expected to meet its current year guidance of between $245m and $265m, with no dividend.
"While we are continuing to see good visitation numbers across our properties as a whole, the spend per customer has also decreased, reflecting the harder economic times everyone is facing," Walbridge said.
"We are continuing to focus on new and innovative experiences so that customers see SkyCity as an attractive entertainment destination that delivers great outcomes."