SKYCITY continues to invest in Auckland site following strong year
Following another strong financial year and increased customer visitation, SKYCITY Entertainment Group is continuing to invest in its Auckland business, with a $20 million atrium upgrade nearly complete and plans for another world-class restaurant on Federal Street in the pipeline.
SKYCITY’s flagship property delivered record results for the second year in a row, with revenue at the site increasing 6.9 percent to $557.5 million* for the 2016 financial year and earnings before interest, taxation, depreciation and amortisation (EBITDA) increasing 10 percent to $251.2 million.
Celebrating its 20th birthday in February 2016, the business has undertaken a massive transformation of its main atrium area including a new improved entranceway, white marble walls and tiled floors, a feature wall and one of the country’s largest escalators leading to the second level of the property. The opening of the hugely popular new eatery Andy’s Burgers and Bar completed the fit out of the atrium area.
The company also today announced plans to develop an additional high end Cantonese restaurant on its award winning Federal Street dining precinct, taking the number of restaurants in the precinct to nine. The new restaurant will open in 2017.
The news comes just after the company celebrated the opening of a new pop-up eatery on Federal Street, overseen by SKYCITY’s out-catering business The Kitchen c/o SKYCITY, offering a relaxing lounge-like area for customers to enjoy some time out whilst enjoying a small bite to eat.
John Mortensen, Interim CEO SKYCITY Entertainment Group says the property is entering into an exciting phase of sustained growth, following continued investment in the property to enhance customer experience.
"SKYCITY really is living up to its name as the home of entertainment in Auckland"
“SKYCITY is continuing to invest in its Auckland property as visitor numbers increase and we continue to enhance and deliver new exciting entertainment activities and world class food and beverage options for our customers.
“SKYCITY really is living up to its name as the home of entertainment in Auckland, and it’s great to see such a fantastic atmosphere at the property, no matter what night of the week you visit. We’re always looking at innovative and exciting ways we can enhance and develop our offering,” he says.
*The above figures are exclusive of International Business revenue and earnings.
Click here to view the ASX/NZX announcement.
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