SkyCity (ASX:SKC) share price on the rise despite 37% revenue drop

The SKYCITY Entertainment Group Limited (ASX: SKC) share price is trading 2.29% higher at the time of writing.

Earlier today, SkyCity released its half-year results for the six months ended 31 December 2020 (1H FY21). Despite the report including a number of losses, the SkyCity share price has remained resilient in today’s trade. Let’s take a closer look.

SkyCity half-year 2021 highlights

SkyCity’s total reported revenue for the period tumbled 37.7% compared to the prior corresponding period (pcp), landing at NZ$449.9 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) took a 62.6% dive to NZ$152.6 million compared to the pcp, which brought in NZ$407.5 million.

Net profit after tax (NPAT) for 1H…