SkyCity shuts down Auckland casino, entertainment facilities after COVID-19 scare

Summary

  • SkyCity Entertainment Group Ltd (ASX:SKC) announced closing down its Auckland casino and entertainment facilities following three new coronavirus cases in the city.
  • SkyCity also said that physical distancing and hygiene requirements would be implemented at its Hamilton and Queenstown properties. 
  • However, the Auckland hotels of the Group would remain open to accommodate the guests currently staying in-house, pending further advice from the New Zealand government. 

SkyCity Entertainment Group Ltd (ASX:SKC) announced closing down its Auckland casino and entertainment facilities following three new coronavirus cases in the city. The operations at the properties were closed down 11 PM, 14 February 2021. SkyCity also said that physical distancing and hygiene requirements would be implemented at its Hamilton and Queenstown properties. 

Image Source: © Lucidwaters | Megapixl.com

However, the Auckland hotels of the Group would remain open to accommodate the guests currently staying in-house, pending further advice from the New Zealand government. The hotel properties would also observe appropriate physical distancing and hygiene requirements, SkyCity said.

The latest restrictions have been implemented after three new COVID-19 cases and a COVID-19 Alert would increase to Alert 3 in Auckland, while other alerts will also be upgraded to Level 2 for the rest of the country from 15 February for three days. The Alert levels would be reviewed in 24 hours.

Image Source: © Lucidwaters | Megapixl.com

However, the Group's businesses outside New Zealand would remain unaffected by these restrictions. SkyCity Adelaide already follows the physical distancing and hygiene requirements and SkyCity Online casino also remains open.

Meanwhile, SkyCity's financial results of six months ended 31 December 2020 Would be announced on 18 February 2021. In FY2020, the Group’s revenue from continuing operations improved by 36.8 per cent to NZ$1,125 million. However, there was a decline of 24.3 per cent in normalised revenue (NZ$779.5 million). The EBITDA improved by 16.9 per cent to NZ$348.3 million. The net profit after tax (NPAT) grew 62.8 per cent to NZ$235.4 million.

READ MORE: Shopify, Walmart to Report Q4 Earnings Next Week: What to Expect

Stock performance

The shares of SkyCity traded almost flat last week. The stock closed at A$2.76, up 0.36 per cent, on 12 February 2021, against the previous closing on 11 February 2021. The stock is up 7 per cent so far this year.

READ MORE: Q4 Earnings Show Market Resilience, Positive Growth

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK