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  3. Closure of local casinos during lockdown is hurting SkyCity

SkyCity Casino, one of New Zealand’s biggest loses NZ$1 million per day since its bars, restaurants, cafes, and even part of the hotel closed due to regulations during level 4 lockdown.

While many businesses suffer due to the lockdowns, even major establishments have taken a severe knock. SkyCity Casino operates three branches in New Zealand, Auckland, Queenstown, and Hamilton. Earlier this year, the company released its presentation notes, explaining the level four lockdown rules implemented on the 17th of Aug 2021 resulted in a negative difference of NZ$1 million before taxes, interest, and depreciation.

The casinos were operating well within the projected figures during the first quarter, starting on 1 July 2021. However, with level four lockdown, new restrictions were implemented, not allowing their doors to open. Pokie machines that operated resiliently in the first quarter are now standing still completely, plus, all their supporting establishments are now unable to continue with normal operations as well.

Even with limited international visitors, the casino was still able to depend on local tourists who made use of their entertainment, casinos, and the hotel. The casino reported fair results over weekends and public holidays despite remaining in line with the lowered health regulations.

SkyCity Online Casino thrives in current health climate

SkyCity online Casino is an attractive alternative to the brick and mortar casino. With an exclusive welcome bonus for Kiwis

SkyCity Online Casino Thrives

While their land-based establishments are forced to operate within restriction boundaries, their popular online casino in NZ manages to reactivate completely inactive players.

The company established their online casino in 2019 via a premium online brand that carried a wide range of award-winning games exclusively meant to attract New Zealand players. The casino operates from a license in Malta as these establishment types cannot currently obtain an NZ licence. However, international casinos are allowed to operate in the area, and what better choice than a trusted New Zealand casino brand.

The SkyCity online casino remains completely separate from its brick-and-mortar cousins, featuring different games and other entertainment opportunities. For example, they provide an online welcome bonus exclusive to New Zealand players. With a member account you can activate a 100% match bonus upon making your first deposit and score up to NZ$100 in free cash. They also include 10 free spins for the following week, showing you around what they have to offer.

Even their games are of the highest quality, which means software providers includes the most trusted game creators such as NetEnt and Microgaming amongst others. The brand also includes an impressive live dealer casino, offering award-winning games where you can see the dealer and table similar to land-based casinos.

The online casino managed to provide NZ players with an excellent online choice, keeping them safe while still having access to the best casino opportunities.

SkyCity Casino Announces Year Results

The financial year starting on the 1st of July 2020 started well but without influence from the international market combined with lockdown regulations caused the company to see a decline of nearly 34% compared to 2019. The company experienced a complete closure for 19 days costing them around NZ$20 million in total.

The casino pokies continued to operate with excellent results, even while adhering health protocols. However, these limitations made a drastic difference to their restaurants, cafes, and the hotel due to the added effect of border closures.

Compared to the year starting on the 1st of July 2019, the company saw a drastic difference in their total earnings. This includes net revenue of NZ$235.4 million in 2019 compared to NZ$156.1 million by 30 June 2021.

While their land-based casinos were operating far below the norm the company’s online casino brand delivered far more interesting results with reports showing a major increase in numbers.

SkyCity Online Casino thrives in current health climate

SkyCity online Casino is the way forward, with an exclusive welcome bonus for Kiwis and on going bonuses and promotions to keep you coming back for more

Could SkyCity Online Casino be the Way Forward?

During the various lockdown periods from as early as March 2020, the company saw a drastic increase in new players at their online casino.

Now with over 45,000 players, the online casino manages to constantly show growth as current regulations continue having a negative effect on their land-based casinos. Graeme Stephens, CEO of SkyCity reported seeing a positive change after their establishments reopened but experienced another drastic increase in new online players. The second wave lockdown closed their Auckland branch yet again.

Currently, the online casino remains one of the primary profitable projects for the company, it keeps showing steady positive results despite facing competition from other international casinos already catering to the NZ market.

The company’s online casino brand will remain one of the key areas of focus during the year ahead as predictions could continue imposing restrictions on the international market for many months into the future. The company also expects the online casino to remain a popular choice for New Zealand players, a trend that is likely to continue even after the reopening of borders when players are allowed to visit one of their branches again.

Legalization for online casinos is being reviewed by the government, which would once again provide advantages for SkyCity Casino, New Zealand itself and the players who partake in the available games.