SkyCity Entertainment Group Ltd, a New Zealand entertainment firm and iGaming provider, has appointed Blair Woodbury as its new CFO.

With the appointment effective 9 March, Woodbury joins from telecommunications company Devoli, where he has been the Chief Financial Officer since 2021. Prior to that, he held the same position at Sky Network Television NZ.

A seasoned veteran, Woodbury also has various senior finance and transformation roles under his belt with companies like McKinsey & Company, New Zealand Post, and PwC – overseeing restructuring, cost-out programmes, optimisation initiatives and capital allocation, among others.

Jason Walbridge, SkyCity CEO, welcomed Woodbury by highlighting his previous credentials: “Blair brings deep experience as a custodian of shareholder capital in complex operating environments. 

“He has led significant asset optimisation programmes, driven disciplined cost reductions to fund growth, and rebuilt balance sheets while maintaining transparent, credible engagement with investors and analysts.”

Prospects across both New Zealand and Australia

SkyCity is one of New Zealand’s biggest gaming groups, alongside TAB NZ and Entain – with TAB NZ being the sole provider of online racing and sports bets in New Zealand, whilst Entain runs TAB’s day-to-day online and retail betting operations under a 25-year agreement.

The three entities also share marketspace in Australia, with SkyCity operating a total of five casinos with multiple restaurants and hotels between Australia and New Zealand.

Woodbury comes months after SkyCity reported headwinds across both countries. Last May, group leadership expressed concerns that the expected EBITDA for FY25 will drop by 4% from the previous guidance. Its Auckland venue, for example, reported a decrease in spend per visit across both gaming and hospitality.

Over in Adelaide, Australia, SkyCity’s casino also saw VIP customers spending less, with group management attributing this to heightened AML measures and expansion of its problem gambling minimisation efforts.

On a wider scale, New Zealand is in the midst of online casino reform. The government is pressing ahead with the launch of an expanded market, with up to 15 licence holders for online casinos expected to be issued later this year.

It is expected that Woodbury will work closely with Walbridge to make SkyCity’s financial standings watertight across both Australia and New Zealand – markets that have seen frequent regulatory overhauls over the past few years.