SkyCity's first half profit will drop slightly but the new Riverbank footbridge provided a boost SKYCITY'S first half profit will be down on last year with the strong New Zealand dollar wiping $NZ3 million off of its result. The company said it expected a first half profit of $NZ65 million to $NZ68 million, down from $NZ72 million. The company said the Adelaide casino was facing a challenging trading environment. "The South Australian economy has not shown any consistent signs of growth and, with the ongoing partial closure of the Adelaide southern railway line dud to electrification works, the property is experiencing a challenging trading environment," the company said. Having concluded the agreements with the South Australian Government earlier this year and in readiness for the launch of premium gaming, ticket-in ticket-out and cashless gaming, the main floor and VIP rooms are being significantly upgraded at a cost of circa $40 million, with the development of the new premium platinum and pearl rooms and new baccarat pavilion, which will open from February 2014. These significant works are causing some short-term disruption to the gaming floors. Encouragingly, despite this disruption, during the recent Ashes test at the newly redeveloped Adelaide Oval, the Adelaide Casino benefited from a substantial uplift in visitation facilitated by the newly-opened Torrens River bridge. SkyCity shares were 3c lower at $3.55.