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Fletcher Construction restarted work at the SkyCity New Zealand International Convention Center (NZICC) which was damaged by a three-day fire that accidentally ignited last year.
Construction work on the SkyCity Convention Center resumed on Level 3, but casinos, hotels, and the Sky Tower will remain closed until Level 2.
Fletcher Construction restarted work at the SkyCity New Zealand International Convention Center (NZICC) which was damaged by a three-day fire that accidentally ignited last year.
The new end date for the NZICC project was January 2, 2025, as the Covid-19 impact would likely affect the construction industry for “some time,” SkyCity said in a statement issued to the NZX.
“SkyCity will continue to work with Fletcher Construction to complete the project as soon as possible, which hopefully will be within the extended time frame,” the company said.
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The construction company also recommended working this week at the SkyCity’s Horizon hotel.
The entertainment group said it had also resumed renovations to restaurants and bars in Auckland and restarted work on its new entertainment area. At Hamilton SkyCity he resumed work in part of his casino.
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The new end date for the New Zealand International Convention Center is January 2, 2025.
SkyCity said it continued to have a strong liquidity position with around $ 400 million in cash and unused credit lines currently available.
SkyCity expects to reopen its New Zealand properties in stages under Alert Level 2, with a reduced schedule initially based on expected customer demand.
The first to open will be the casino, but with a limit of 100 people.
“This will require SkyCity to create different” zones “in its main gaming rooms and put raffles, game promotions and other public events on hold,” the company said.
He also planned to open his hotels, the Sky Tower and most restaurants in accordance with “strict” measures of social distancing and contact location.
In Australia, SkyCity’s Adelaide Casino was also closed at this time.
The company said that after its restructuring announced last month that it included 200 immediate job cuts, SkyCity’s operating cash requirements (before reopening any property) was approximately $ 12 million per month.
SkyCity also has significant ongoing capital spending commitments on its two main projects and “other smaller development projects in Auckland and Hamilton.”
At the time of the restructuring, SkyCity chief executive Graeme Stephens said during the shutdown that the company was facing some $ 90 million in lost revenue per month, while incurring significant costs such as utilities, lease payments and labor, with labor costs only around $ 20 million per month.
