SkyCity Entertainment Group revealed Thursday it will introduce mandatory carded play across its New Zealand properties in Auckland, Hamilton and Queenstown in July of this year, followed by a similar roll-out at SkyCity Adelaide in Australia in 2026, as it moves forward with its transformation program.
The implementation of mandatory carded play mirrors moves by regional competitors Crown Resorts and Star Entertainment Group following a series of regulatory reviews in Australia which found deficiencies around the industry’s AML and responsible gaming measures.
SkyCity last year reached an AU$67 million (US$42.5 million) settlement with Australian AML watchdog AUSTRAC for historical failures and an NZ$4.2 million (US$2.4 million) settlement with New Zealand’s Department of Internal Affairs for similar breaches on home soil.
Announcing its interim financial results on Thursday, SkyCity revealed the planned roll-out schedule for mandatory carded play across its properties, warning that the move is expected to impact revenue in the short-term but describing it as a critical component of the company’s transformation program.
“100% carded play represents a step change in host responsibility and customer care,” said SkyCity CEO Walbridge. “All customers will need to use a SkyCity card that contains their identity and other important information to play anywhere in our casinos. This will enable them to know how long they’ve played, how much they’ve spent, and when to take a break.”
The update came as SkyCity reported a 22% year-on-year decline in Group EBITDA to NZ$113 million (US$64.6 million) for the six months to 31 December 2024, impacted by lower customer spending and increased regulatory costs related to the company’s risk transformation program.
Group revenue also fell by 5% due to the reduced per visit spend, despite visitor numbers remaining relatively strong, while net profit after tax fell to NZ$6 million (US$3.4 million) thanks to a near NZ$32 million (US$18.3 million) settlement with the South Australian government in relation to outstanding interest owed on gaming duty at SkyCity Adelaide.
In announcing its interim results for 1H25, SkyCity noted that gaming revenue at its flagship SkyCity Auckland property was impacted by a five-day closure of gaming operations, weaker market conditions and a change in overall customer mix.
SkyCity Adelaide, the company added, saw visitation increase by 10% and driving increased revenue, although this was ultimately offset by increased expenditure incurred through the three-year transformation program.
“We continue to operate in challenging market conditions with subdued consumer confidence, so we’re pleased to see strength in our visitation numbers as people continue to enjoy coming to SkyCity for their entertainment,” said CEO Jason Walbridge.
“We welcome the government focus on economic growth and tourism we’re seeing on both sides of the Tasman. SkyCity has a big part to play in the tourism sector and we can’t wait to open the New Zealand International Convention Centre (NZICC) in February 2026 and welcome visitors to this world-class venue.”
Looking ahead, the company said it had completed a review of its assets and created a five-year master plan that will see select assets monetized to reduce debt, move towards the resumption of paying dividends to shareholders and invest in growth opportunities.
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