SALE OF SKYCITY DARWIN BUSINESS

29 March 2019

Client Market Services
NZX Limited
Level 1, NZX Centre
11 Cable Street
WELLINGTON

Copy to:

ASX Market Announcements
Australian Stock Exchange
Exchange Centre
Level 6
20 Bridge Street
Sydney NSW 2000
AUSTRALIA


Dear Sir/Madam


RE: SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)
SALE OF SKYCITY DARWIN BUSINESS

Please find attached an announcement concerning the sale of the company’s
SKYCITY Darwin business in Australia.


Yours faithfully


Jo Wong
Company Secretary

MARKET RELEASE
29 March 2019


Sale of SKYCITY Darwin business

SKYCITY Entertainment Group Limited (SKC.NZX) (“SKYCITY”) confirms that the
sale of its Darwin business to Delaware North is now unconditional following the
satisfaction of all conditions in the sale and purchase agreement entered into with
Delaware North on 8 November 2018, including obtaining all necessary approvals
from the Northern Territory Government.

Completion of the sale is expected to occur on 4 April 2019.

“We are pleased that the sale of SKYCITY Darwin is now unconditional. The sale is
consistent with our strategy to sell certain non-core assets and to allocate capital
to assets and businesses which we feel are better aligned with our long-term
strategic objectives,” SKYCITY Chief Executive Officer Graeme Stephens says.

The key terms of the sale are as follows:

• Sale price of A$188 million for 100 per cent of the shares in SKYCITY Darwin
Pty Limited

• Little Mindil property (book value A$11 million), located adjacent to the
SKYCITY Darwin site, has been retained by SKYCITY and is to be sold
separately.

Following completion of the transaction, SKYCITY will provide certain agreed
transitional services to Delaware North.


ENDS

For more information please contact:

INVESTORS/ANALYSTS

Ben Kay
General Manager, Corporate
Development and Investor Relations
SKYCITY Entertainment Group
Phone: + 64 9 363 6067
Email: ben.kay@skycity.co.nz

MEDIA

Colin Espiner
General Manager, Communications
SKYCITY Entertainment Group
Mobile: +64 27 504 6294
E-mail: colin.espiner@skycity.co.nz