Skycity Entertainment Group Limited
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| SKYCITY Entertainment Group Limited | |
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| Type | Public (ASX:SKC NZX: SKC) |
| Founded | 1996 |
| Headquarters | New Zealand |
| Key people | Elmar Toime (CEO) David Sullivan {CFO) |
| Industry | Casinos and hotels |
| Products | Casinos and Hotels |
| Website | www.skycityentertainmentgroup.com |
- This article is about the casino corporation; for other uses see Skycity.
SKYCITY Entertainment Group is a New Zealand corporation whose core business is owning and operating casinos in Australasia. It is the smallest of four major players operating in the market.[1] The company's shares are traded on both the Australian and New Zealand Stock Exchanges, and 2007 net profits are expected to be around NZ$100 million, with the 2006 December half year having operating revenues of NZ$ 419.2 million.[2][3] The present CEO of SKYCITY is Elmar Toime.
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.
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.[2]
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[edit] History
Since opening its original Auckland casino on February 2, 1996, SKYCITY has expanded its operations to several New Zealand and Australian cities.
In June 2000, it bought the Adelaide Casino (now SKYCITY Adelaide). 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.
[edit] Adelaide
SKYCITY Adelaide, formerly the Adelaide Casino, was bought by SKYCITY Entertainment Group in June 2000 and officially became the SKYCITY in April 2001. It has around 70 gaming tables and 950 gaming machines.
[edit] Auckland
SKYCITY Auckland is New Zealand's largest casino. Located in Central Auckland, it provides table and slot machine gaming. The facility includes the Sky Tower, a hotel, convention centre and theatres. It opened on February 2, 1996.
[edit] Christchurch
SKYCITY purchased a 40% share in Christchurch Casino in 2004. It has around 500 gaming machines and numerous tables.
[edit] Darwin
SKYCITY Darwin, formerly known as the MGM Grand Darwin, is the only casino in Darwin, the capital of the Northern Territory, Australia. SKYCITY Entertainment Group bought the casino from MGM Mirage on June 23, 2004, for $140 million US.
[edit] Hamilton
SKYCITY Hamilton is a casino in Hamilton, New Zealand, that opened in September 2002. It has over 330 gaming machines and 23 tables, a restaurant and a bar, with live music and other performers on Friday and Saturday nights. It is part of the Riverside Centre on the Waikato River, which includes bars, restaurants, ten-pin bowling and Mega Zone all operated under the SKYCITY company.
[edit] Queenstown
SKYCITY Queenstown opened in December 2000. It has 80 gaming machines and numerous gaming tables.
[edit] References
- ^ SkyCity still bets on growth - New Zealand Herald, Saturday 28 October 2006
- ^ a b SkyCity hit as luck changes for VIPs - New Zealand Herald, Thursday 1 March 2007
- ^ Sky City blames tough conditions for performance - New Zealand Herald, Wednesday 28 February 2007
- Who We Are - Background and directory of SKYCITY Entertainment Group (from the official company website)
