Skycity Entertainment Group
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| Public | |
| Traded as | ASX: SKC, NZX: SKC |
| Industry | Entertainment: Casinos and Hotels |
| Founded | 1996; 21 years ago |
| Headquarters | Auckland, New Zealand |
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Key people
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John Mortensen (Interim CEO) Rob Hamilton(CFO) |
| Products | Casinos and Hotels |
| Website | www |
Skycity Entertainment Group is a leading entertainment and gaming business owning and operating monopoly casinos in New Zealand (Auckland, Hamilton and Queenstown) and Australia (Adelaide and Darwin), alongside a variety of restaurants and bars, luxury hotels, convention centres and Auckland's iconic Sky Tower.
The company's shares are traded on both the Australian and New Zealand Stock Exchanges, reported net profit after tax (NPAT) was $128.7 million, with the Group seeing record revenue exceeding $1 billion for the first time in the country's history. SKYCITY currently has an interim CEO, John Mortensen, following the resignation of previous CEO Nigel Morrison in May 2016.
The group came into existence in 1996 when the company was established as the owner of the Skycity Auckland complex. In 1998 it took over the operations from the previous gaming operator Harrah's Entertainment.
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.
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 July 2004 it bought the Darwin Casino and Hotel from MGM Mirage and rebranded it as Skycity Darwin. Then in June 2004 it acquired a 40.5% holding in the Christchurch Casino when it bought Aspinal Limited.
On April 7, 2016, it was announced by the company that longtime CEO Nigel Morrison would be stepping down as managing director and chief executive effective April 29. The SkyCity board has appointed John Mortensen, Chief Operating Officer of the company's New Zealand Operations, as interim chief executive pending a global search for new chief executive.
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Wikipedia