Skycity Entertainment Group
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| Type | Public (ASX: SKC NZX: SKC) |
|---|---|
| Industry | Casinos and Hotels |
| Founded | 1996 |
| Headquarters | New Zealand |
| Key people | Nigel Morrison (CEO) Alistair Ryan (CFO) |
| Products | Casinos and Hotels |
| Website | www.skycity.co.nz |
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 Nigel Morrison.[4]
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 2 February 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] Casinos
[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. It has the only table gaming licence issued out by the South Australian Government, giving it a monopoly over the gambling business in the state
[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 328 metre tall Sky Tower, two hotels, convention centre, a 700 seat theatre and 18 restaurants and bars. It opened on 2 February 1996.
[edit] Christchurch
SKYCITY purchased a 50% share in Christchurch Casino in 2011. 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, which includes a 5 star hotel from MGM Mirage on 23 June 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] Hotels
[edit] Auckland
Skycity Hotel, Auckland is a four-star casino hotel and was opened in February 1996. It is one of New Zealands busiest hotels and is located inside the main Auckland complex, which includes the 328 meter Sky Tower, 17 restaurants and bars and the casino. It serves mainly families, businessmen and gamblers who play at the casino. It offers 344 rooms.[citation needed]
Skycity Grand Hotel is a luxury five-star hotel and was officially opened by Prime Minister Helen Clark in April 2005 after costing $85 million. It is not located inside the main complex but is adjacent and is connected by an "Air Bridge". It serves mainly older guests, VIPs and high stake gamblers who play at the casino. Many celebrities have stayed at the hotel including Justin Timberlake, Christina Aguilera and Linkin Park. The Grand features 21 floors and 316 rooms. The rooms comprise The Grand Suite, 8 Self Contained Suites, 11 King Suites and 296 rooms. The room interiors were designed by Chhada Siembieda (specialists in luxury hotel interiors and responsible for the "W" hotel chain as well as the Hayman Island Resort, Sydney Hilton and the Hotel Intercontinental in both Sydney and in Hong Kong). Facilities and services include 24 hour room service and reception, a heated lap pool, fitness center with personal trainers, sauna, health spa, baby sitting and a hotel doctor.[citation needed]
[edit] Darwin
Skycity Hotel, Darwin is premium five-star boutique hotel and was opened in July 2004. It was originally known as the "MGM Grand Darwin" until Skycity Entertainment Group bought the hotel and re branded it as Skycity Darwin.
The casino was originally granted a licence in 1979 and opened at its current premises in 1983.[5] Until 2004 it was known as the MGM Grand Darwin. The SKYCITY Entertainment Group purchased the hotel in 2004 for $195 million and took ownership on 23 July 2004.
[edit] Cinemas
Skycity Cinemas was a cinema operator wholly owned by Skycity Entertainment Group Limited, operating 97 cinema screens around New Zealand.
[edit] See also
[edit] References
- ^ Hembry, Owen (28 October 2006). "SkyCity still bets on growth". The New Zealand Herald. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10407971. Retrieved 12 November 2011.
- ^ a b Hembry, Owen (1 March 2007). "SkyCity hit as luck changes for VIPs". The New Zealand Herald. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10426391. Retrieved 12 November 2011.
- ^ "Sky City blames tough conditions for performance". The New Zealand Herald. 28 February 2007. http://www.nzherald.co.nz/sky-city-entertainment-group-ltd/news/article.cfm?o_id=193&objectid=10426239. Retrieved 12 November 2011.
- ^ Vaughan, Gareth (18 December 2007). "Sky City appoints Nigel Morrison as CEO". Fairfax New Zealand. http://www.stuff.co.nz/4328427a13.html.
- ^ "Skycity Confirms MGM Grand Darwin Acquisition". 11 February 2004. http://www.scoop.co.nz/stories/BU0402/S00118.htm. Retrieved 15 January 2008.
