SkyCity cuts FY26 earnings guidance, flags ‘uncertain’ trading outlook
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The news: Casino operator SkyCity Entertainment has downgraded its full-year earnings guidance, warning of lower consumer spending across New Zealand and Australia.
The numbers: SkyCity now expects underlying EBITDA for FY26 to be between $180 million and $190 million, down from its previous range of $190 million to $210 million.
The company also expects reported EBITDA for the year to be between $155 million and $165 million, down from $170.6 million to $190.6 million.
The context: SkyCity said trading and visitation rates have been impacted since March, particularly by increases in fuel prices. The impacts have been most pronounced at SkyCity’s Auckland and Adelaide precincts, it said.
The group noted that the new guidance is based on current trading conditions remaining broadly consistent for the rest of FY26.
“Significant uncertainty exists on the breadth and duration of prevailing macroeconomic conditions, and further deterioration in these conditions could affect this guidance,” it said.
The source: ASX
