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SkyCity reports flat FY24 revenue of NZ$959.6m

Results

SkyCity Entertainment Group reported underlying revenue, including gaming GST, of NZ$959.6 million for the year ended 30 June 2024, broadly unchanged from the previous year. Underlying group EBITDA fell 8% to $277.8 million, while the company reported a net loss of $143.3 million; it also reiterated its FY2025 earnings guidance.

SkyCity’s lower EBITDA and net loss give investors and suppliers important context alongside its reiterated FY2025 earnings guidance.

End-of-day close SkyCity (SKC), NZD, to 4 October 2024
Story date8 July 20244 October 2024

Latest reported results

SkyCity NZX: SKC

Financial year ended 30 June 2026

Revenue
NZD 813.7m
Operating income
NZD 20.0m

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Deals & M&A

SkyCity invites takeover proposals while preparing two New Zealand online licences

SkyCity Entertainment Group's board has decided to seek acquisition proposals for the entire business through a structured process, chairman Julian Cook told shareholders at the annual meeting on 21 October. The company rejected two takeover bids earlier this year and has appointed UBS and Chapman Tripp as advisers. SkyCity is also preparing applications for two New Zealand online casino licences.

At the annual general meeting held in Auckland on 21 October, chairman Julian Cook told shareholders that the board had chosen to seek proposals via a structured process. UBS will serve as investment banking adviser, while Chapman Tripp takes the legal adviser role. Cook warned that the exercise would be lengthy and that no sale or fresh offers were guaranteed.

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