Casino profits but it drops $200,000

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Queenstown’s SkyCity Casino has delivered another lacklustre financial result. 

The Beach Street gaming centre’s bottom line profit dropped from $900,000 to $700,000 for the year to June 30, says publicly-listed SkyCity Entertainment Group in its annual report. 

The figures are before interest, tax, depreciation and amortisation, meaning the casino has done little better than break-even. 

Pokie and food and beverage revenues were steady, SkyCity says, but table-game revenues fell because of lower spend per visitor. 

Tight cost control prevented an even worse result, the annual report says. 

The casino is 60 per cent owned by SkyCity and 40 per cent by local conglomerate Skyline Enterprises. 

Rival Lasseters Wharf Casino also has a June 30 year-end but results are not yet available. 

Two months ago, Mountain Scene revealed that Singapore-owned Lasseters had lost nearly $6 million in the past three years, almost $3.5m in 2009 alone.