|
Sky City in 1999
- The best margin performer amongst Australasian casinos
- 90% dividend payout ratio maintained
- Exciting entertainment options
- A well-established brand profile representing fun and entertainment
- Vital contribution to economic development, employment and tourism in the Auckland region
- Significant contribution to, and role in, the Auckland community
$45.6 million
after-tax earnings
- Earnings per share up from 32cps* (1998) to 47cps (1999)
- Dividend per share up from 29cps (1998) to 43cps (1999)
- Total revenue up 8% from $239 million (1998) to $257 million (1999)
Highlights 1998/99
- Queenstown casino licence awarded
- Share buyback continued: 3.75 million shares acquired in calendar 1998 at an average of $5.07 per share
- A very successful instalment receipts issue attracted 20,000 new shareholders in March 1999
- Sky City well established as the entertainment centre of Auckland
- An estimated 5.5 million visitors to the Sky City complex, of whom 650,000 were international visitors to New Zealand $45.6 million
- 100 new gaming machines in December 1998
- Restaurant mix enhanced
- Main floor refurbishment commenced
- Continuing involvement in the Auckland community through sponsorships and donations
Strategic focus
To improve the overall performance of the business through a combination of growth and cost control, by:
- providing a fun and entertaining environment for customers
- attracting new customers
- maintaining a focus on entertainment events and other initiatives as a stimulant to revenue performance, with immediate focus on the millennium year opportunities during the next 12 months
- maintaining a focus on cost management and margin performance across all sectors of the business
- seeking new opportunities within the gaming entertainment sector and positioning for alternative forms of gaming as appropriate
- developing a performance-oriented people culture
- contributing to and participating in the Auckland community and other communities in which we will be involved in the future
* cents per share
1998 EPS before non-recurring items
|
Key elements of the result
|
