Falling Sky

SkyCity Entertainment Group, a well known casino operator, has admitted to an 18% fall in net profit for the year ending June 30th. This means the net profit of the operator, who owns casino outlets in Adelaide, Darwin and New Zealand, fell to $98 million for the last commercial year. The Group had several offers to purchase its North Terrace site in Adelaide, but will only consider propositions exceeding SkyCity's own valuation. The company is predicting reduced turnover at Adelaide casino due to the smoking ban that will come into place in South Australia in the beginning of November.