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Skycity Entertainment Group

#6700

Rank

$521.31M

Marketcap

NZ New Zealand

Country

Skycity Entertainment Group
Leadership team

Mr. Michael Ahearne (Chief Exec. officer)

Ms. Julie Amey (Chief Financial Officer)

Mr. Callum J. Mallett (Chief Operating Officer)

Products/ Services
Casino, Gambling, Hospitality
Number of Employees
1,000 - 20,000
Headquarters
Auckland, Auckland, New Zealand
Established
1996
Revenue
100M - 500M
Traded as
SKC.NZ
Social Media
Overview
Location
Summary
SkyCity Entertainment Group Limited, together with its subsidiaries, operates in the gaming, entertainment, hotel, convention, hospitality, and tourism sectors in New Zealand and Australia. The company operates through Skycity Auckland, Other NZ Operations, SkyCity Adelaide, and International Business segments. It engages in the hotels and convention, food and beverage, sky tower, car parking, property investment, and other related activities. The company also operates casinos in Auckland, Hamilton, and Queenstown, New Zealand; and Adelaide, Australia, as well as various restaurants and bars. In addition, it provides hotel accommodation and online casino services. As of June 30, 2022, the company operated 309 table games, 3,451 electronic gaming machines, 378 automated table games, 17 restaurants, 15 bars, 755 hotel rooms, and an online casino. SkyCity Entertainment Group Limited was incorporated in 1994 and is headquartered in Auckland, New Zealand.
History

Since opening its original Auckland casino on 2 February 1996, SkyCity has expanded its operations to several New Zealand and Australian cities.

In June 2000, it bought the Adelaide Casino. It added another casino to its portfolio when it opened SkyCity Queenstown in the alpine resort of Queenstown.

In 2001, SkyCity bought a half share in cinema operator Force Corporation for $19.4 million, and rebranded it as SkyCity Leisure.In June 2004, the group acquired a 41% stake in the Christchurch Casino when it bought Aspinal Limited. Although the deal was opposed by Skyline Enterprises, the other owner of 41% stake, it was approved by the Casino Control Authority and the Commerce Commission. However, in 2012 SkyCity sold its shares to Skyline for $80 million and bought Skyline's 40% stake in Queenstown Casino for $5 million.In July 2004, SkyCity bought the Darwin Casino and Hotel from MGM Mirage and rebranded it as SkyCity Darwin.

In February 2010, the group sold its cinema operating business to Australian firm Amalgamated Holdings Limited .Evan Davies was the founding Chief Executive, before leaving the group in 2008. During Davies' 11 years, the company grew from a single site to having business operations throughout New Zealand, South Australia and the Northern Territory. In April 2016, longtime CEO Nigel Morrison stepped down as Managing Director and Chief Executive. Graeme Stephens was appointed as SkyCity's Chief Executive from May 2017 to December 2020, with Chief Operating Officer Michael Ahearne stepping in as the new CEO from January 2021 until present.In October 2017, the group acquired NPT Limited's interest in AA Centre in Auckland for NZ$47 million.In November 2018, SkyCity sold the Darwin Casino to American company Delaware North for $188 million.In June 2019, SkyCity obtained governmental permission to buy a 1.01-hectare parcel of land in Queenstown to develop a new luxury hotel.In August 2019, SkyCity launched its online gambling website, SkyCity Online Casino. The website is operated by Malta-based Gaming Innovation Group on behalf of SkyCity's Maltese subsidiary.SkyCity casinos often depend to a large degree on several hundred high-stakes gamblers, often from East Asia, who may gamble hundreds of thousands of dollars in one visit to a casino. Reported net profit after tax was $128.7 million, with the Group seeing revenue exceeding $1 billion for the first time in the company's history.

As a result of the COVID-19 pandemic, SkyCity announced 200 job losses in New Zealand on 3 April 2020, and a further 700 redundancies a month later, on 11 May. In 2020, SkyCity planned to raise new equity of $230 million to strengthen its balance sheet as part of its pandemic recovery plan.

Mission
Skycity Entertainment Group’s mission is to create remarkable experiences for its customers, partners, employees and the community. The group strives to be the best in the industry, to provide its guests with secure, vibrant, entertaining and value-driven experiences.
Vision
Skycity Entertainment Group’s vision is to bring more than just entertainment to the communities it serves by continuing to grow and diversify its businesses. Skycity strives to be the premier entertainment, hospitality and gaming company in Australasia.
Key Team

Mr. Glen Alexander McLatchie (Chief Information Officer)

Ben Kay (Gen. Mang. of Strategy & Investor Relations)

Ms. Joanna Lee Wong (Gen. Counsel & Company Sec.)

Kate Gourdie (Group Communication Mang.)

Ms. Claire Walker (Chief People & Culture Officer)

Mr. David D. Christian (Chief Operating Officer of SkyCity Australia)

Ms. Nirupa George (Chief Corp. Affairs Officer)

Recognition and Awards
Skycity Entertainment Group has been honored with multiple awards. They have been awarded the CRL Skycity Auckland Top Employer Award, the New Zealand Meat Industry Association Excellence Award, the New Zealand Hotels Association Excellence Award, the Auckland Regional Transport Authority Top Employer Award and the ACCCNZ Excellence Award.
References

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Skycity Entertainment Group
Leadership team

Mr. Michael Ahearne (Chief Exec. officer)

Ms. Julie Amey (Chief Financial Officer)

Mr. Callum J. Mallett (Chief Operating Officer)

Products/ Services
Casino, Gambling, Hospitality
Number of Employees
1,000 - 20,000
Headquarters
Auckland, Auckland, New Zealand
Established
1996
Revenue
100M - 500M
Traded as
SKC.NZ
Social Media