Casino operator SkyCity Entertainment Group posted double-digit profit gains in its most recent fiscal year thanks to another record performance at its Auckland property.

For the 12 months ending June 30, SkyCity reported revenue rising 9% to NZD 1.1b (US $790.5m), earnings up 8% to $334m and net profit after tax up 13% to a record $145.7m. SkyCity operates four casinos in New Zealand and two in Australia.

SkyCity breaks out its so-called International Business (IB) aka Asian high rollers as separate figures from its individual property results, and last year’s IB was a record-breaker. Group-wide turnover was up nearly one-third to $12.4b and average win rate improved 0.13 points to 1.49%, better than the company’s theoretical win rate of 1.35%.

So-called ‘normalized’ IB earnings – so named because they smooth out the wild variables so prevalent in the VIP gambling game – were up 26.6% to $33.5m. The figures would have been even more stellar but for marginally higher commissions and higher bad debt provisions.