SALE OF AUCKLAND CAR PARK CONCESSION GOES UNCONDITIONAL

9 August 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



RE: SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)
SALE OF LONG-TERM CONCESSION OVER AUCKLAND CAR PARKS GOES
UNCONDITIONAL


Please find attached an announcement concerning the sale of a long-term concession
over the company’s Auckland car parks.



Yours faithfully

Jo Wong
Company Secretary

MARKET RELEASE
9 August 2019
Sale of long-term concession over Auckland car parks
SkyCity Entertainment Group Limited (SKC.NZX/SKC.AX) (“SkyCity”) confirms that the sale
of a long-term concession over its Auckland car parks is unconditional following the
satisfaction of all conditions in the concession agreement entered into with Macquarie
Principal Finance Group (“MPF”) on 3 April 2019.
Completion of the transaction is expected to occur on Monday, 19 August 2019.
The sale is consistent with SkyCity’s strategy to sell certain non-core assets and to allocate
capital to assets and businesses which are better aligned with its long-term strategic
objectives. SkyCity looks forward to a positive, long-term partnership on its Auckland
precinct with MPF and Care Park.
The key terms of the sale are as follows:
• Long-term concession (licence to operate) over SkyCity’s Auckland car parks sold to
MPF for $220 million;

• Concession term to June 2048 to align with renewal date for SkyCity Auckland casino
licence;

• Care Park appointed by MPF to operate the car park;

• MPF required to perform parking operations in accordance with agreed service
standards;

• Availability regime established to ensure ongoing access for SkyCity customers and
staff; and

• Car park remains available for public use, including casuals and licence holders.

Following completion of the transaction, SkyCity will provide certain transitional services to
MPF, primarily ICT-related services.
ENDS

For more information please contact:

Media Investors and analysts
Colin Espiner
GM, Communications
DDI: +64 9 363 6467
Mobile: +64 27 504 6294
E-mail: Colin.Espiner@skycity.co.nz

Ben Kay
GM, Corporate Development & Investor
Relations
DDI: +64 9 363 6067
E-mail: ben.kay@skycity.co.nz