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Market · New Zealand · Sun 23 Aug · 3 min read

SkyCity profit collapses 37%; carded play bites deep

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What happened

SkyCity Entertainment Group reported FY26 results showing a 44.2% year-on-year decline in EBITDA to NZ$120.5 million (approximately US$71.5 million). Net profit fell 37.6%. Two factors drove the collapse: mandatory carded play requirements imposed on its New Zealand operations, and reduced international VIP volumes tied to Middle East conflict disrupting travel and high-roller activity.

Carded play, which requires gamblers to register and use a loyalty or identity card before playing, was introduced as a harm minimisation measure by New Zealand regulators. SkyCity is the most exposed major casino group to this policy given its dominant position in the New Zealand domestic market.

Why it matters

Sources: ASGAM

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