SkyCity Entertainment Group could cut between 200 and 250 predominantly New Zealand-based corporate and back-of-house roles as part of a major cost-reduction programme unveiled alongside its FY26 results.
The casino operator said its group-wide reset is designed to target around NZ$30 million in realised benefits during FY27, which is then set to increase to NZ$70 million in total benefits by FY28. SkyCity said the programme reflects “structural changes in its land-based business” as well as the arrival of regulated online casino gambling in New Zealand.
The news about the potential job losses come after a pretty difficult financial year for the group. Its underlying revenue was down NZ$882.7 million for the 12 months leading up to the 30th of June 2026, equating to 0.3%, while the underlying EBITDA dropped 22.3% down to NZ$181.6 million. After tax, its underlying net profit fell 46.9% to NZ$38 million.
According to the company, one of the main reasons behind the decreased gaming revenue was partially due to mandatory carded play across all of its New Zealand casinos, alongside reduced customer visitation and spending during the fourth quarter at its Auckland and Adelaide properties.
Thankfully, higher non-gaming revenue, including business from the newly opened New Zealand International Convention Centre, helped to partially offset the decline.
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Alex Smith