Episode Details

SkyCity’s 2026 earnings took a major hit, with net profit plummeting 38% to $18.2 million—down from $29.2 million the prior year. Amid sweeping restructuring, CEO Jason Walbridge vows to make the company “simpler, smarter, and more connected,” targeting $30 million in annual savings by 2027 and $70 million by 2028, driven by regulatory shifts in online gambling. The plan includes up to 200 job cuts, mostly in Auckland, adding uncertainty for employees as SkyCity navigates tough industry changes. No specific profit forecast is given yet, but shareholders will get updates at October’s meeting, alongside expected one-off costs and an $80–$100 million capital spend. The company’s top priorities: restoring positive cash flow and eventually resuming dividends.

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