Skycity Renovations Pays Off

NEW ZEALAND – As reported by the Advertiser: "Skycity Adelaide's $20 million refurbishment has come up trumps for its New Zealand parent company which yesterday reported a rise in earnings from the casino.

"Skycity Entertainment shares surged 7.9 per cent - up 34c to $4.62 - after managing director Evan Davies said it was recovering from smoking restrictions in Adelaide and NZ faster than it had expected.

"…Revenue from Adelaide rose 18 per cent to $66 million. Skycity's earnings before interest, tax, depreciation and amortisation rose 18 per cent to $14 million - up 226 per cent on the six-month period…"
2006-02-23