New Zealand Casinos “Cash Positive” After COVID-19 Reopening

New Zealand casinos “cash positive” after Covid-19 reopening. New Zealand’s SkyCity Entertainment Group has revealed its casinos in Auckland and Hamilton have been “profitable and cash positive” since reopening on 14 May following a seven-week closure due to coronavirus.

The firm’s domestic business had exceeded expectations at its flagship Auckland property and in the smaller SkyCity Hamilton, with EGM revenue already at 80% of average daily revenue for the eight months to 29 February 2020. Table games revenue is back to 50% after a slow start, which has reflected social distancing requirements.

Hotel occupancy remains low at 32% but has reached 90% on weekends due to special offers, with room rates on average 35% lower than usual.

The New Zealand government is due to review its COVID-19 response next Monday 8 June with the possibility of dropping the nation back to Alert Level 1 to be considered, paving the way for restrictions to be eased even further.

[image: Pinterest]

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