SkyCity bullish about “very active” future

SkyCity Entertainment, which operates six casinos in Australia and New Zealand, says it plans to focus on its business in New Zealand for future growth and isn’t looking at acquiring new properties in the increasingly competitive Australian market. The company has several projects in various stages of development to lock in earnings growth from around $800 million of capital expenditure in the next three years. Presenting the company’s annual results CEO Nigel Morrison said the next three years would be full of activity as the company invested further in its Adelaide casino, built the international convention centre in Auckland, considered options for the sale of its new hotel being built as part of that centre, sought to resolve issues with its operations in Queenstown and built its international business further. SkyCity’s full-year results were largely positive and have been generally well received. In the year to 30 June 2015, normalized revenue rose 8.7...

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