WELLINGTON, New Zealand — Casino operator Skycity Entertainment Ltd. sank to a half-year loss as the pandemic caused operating restrictions and closures for its New Zealand and Australia properties.
The company on Monday reported a six-month loss of 33.7 million New Zealand dollars ($22.4 million) compared with a net profit of NZ$77.9 million a year earlier. Operating earnings fell 86% to NZ$29.4 million.
Skycity said it couldn’t provide a full-year earnings forecast due to near-term uncertainty stemming from the Covid-19 pandemic. It said the company’s medium-term priority is to return earnings to the pre-pandemic level.