New Zealands SkyCity Entertainment Group says it has reached an agreement with the New Zealand Government to extend the long stop date for completion of the New Zealand International Convention Centre (NZICC) project in Auckland from 2 January 2025 to 15 December 2027.
While the company is still targeting completion in late 2024, it said the additional time provides it with a buffer between the programme date and the long stop date under its New Zealand International Convention Centre Project and Licensing Agreement (NZICC Agreement). Regulatory concessions granted to SkyCity under the NZICC Agreement are unchanged.
The extension comes after SkyCity Auckland suffered a huge blaze on the roof of the NZ$750 million (US$520 million) NZICC development in October 2019, which saw casino operations temporarily shut down and guests evacuated.
SkyCity intends to provide a further update on the NZICC (and Horizon Hotel) project on 25 August 2021 when it releases its FY21 result to the market, the company said in a Wednesday morning filing.
SkyCity advises that there is no material change to previous guidance for the total project costs of around $750 million.