Sky City Entertainment Group Ltd., New Zealand’s largest casino operator, said first-quarter earnings rose 3.7 percent after revenues from most of its businesses grew.
Normalized profit, excluding cinema operations and adjusted for non-recurring items, gained 5 percent in the three months ended Sept. 30 from a year earlier, the Auckland-based company said in a statement today. Revenue from its largest venue, Auckland, fell from the year-earlier quarter, it said, without providing figures.
The company will add three private gaming salons, a rooftop bar and restaurant to the Auckland center, the company said. The expansion will cost about NZ$27 million ($20 million) and will be completed in time for the Rugby World Cup in September, it said.
Analysts forecast full-year normalized profit after tax will reach NZ$127.4 million in 2011, the company said. “We would be disappointed if we did not achieve this,” Chief Executive Officer Nigel Morrison said in the statement.
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