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SkyCity H1 net slips as fewer Asian high-rollers visit
February 8, 2017 / 9:47 PM / 10 months ago

SkyCity H1 net slips as fewer Asian high-rollers visit

SYDNEY, Feb 9 (Reuters) - New Zealand casino operator SkyCity Entertainment Group Ltd said on Thursday its underlying profit slipped 2 percent and revenues from international business suffered following a crackdown on gaming by China.

Normalised or underlying profit fell to NZ$83.7 million ($60.9 million) while revenues dropped over 6 percent to NZ$525.8 million, dragged lower by its international business.

Eighteen employees of Australian rival Crown Resorts were detained for several days by Chinese authorities for alleged gambling crimes late last year.

No charges were laid against them, but the detentions also hurt SkyCity’s ability to attract Asian high-rollers, who had been behind the casino’s recent strong performance.

$1 = 1.3772 New Zealand dollars Reporting by Swati Pandey; editing by John Stonestreet

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