The Sky City Casino in Auckland had impressive profits in the first half to December, overshadowing the operator’s Australian properties, according to a financial report from Sky City Entertainment Group. The Auckland casino’s performance was mainly due to an increase in New Zealand tourism, which wasn’t reflected in their Australian market.
According to official numbers, the company generated a net profit of $AUD83.8 million to December 2016, or 18% more than the same period last year, when they hit a record of $71 million. The main contributor to the positive numbers was Sky City Auckland, which saw a 12% growth in the second quarter thanks to record tourism numbers, accounting for nearly 80% of the company’s EBITDA (earnings before interest, tax, depreciation and amortization) in the interim period. The Auckland property is also receiving concessions from the government to build the New Zealand International Conference Center, which is scheduled for opening at the start of 2019.