ANNUAL RESULT FOR THE YEAR ENDED 30 JUNE 2019

14 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

Dear Sir/Madam

RE : SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)
ANNUAL RESULT FOR THE YEAR ENDED 30 JUNE 2019

Please find attached the following information relating to SkyCity Entertainment
Group Limited’s result for the year ended 30 June 2019:

1. a Results Announcement (as required by NZX Listing Rule 3.5.1);

2. the FY19 Result - Investor Presentation;

3. the Annual Report, including the audited financial statements and notes; and

4. a Distribution Notice (as required by NZX Listing Rule 3.14 .1) detailing the final
dividend.

For the purposes of ASX Listing Rule 1.15.3, SkyCity Entertainment Group Limited
confirms that it continues to comply with the listing rules of its home exchange, the
NZX Listing Rules.

SkyCity is hosting a conference call for investors and analysts today at 12.00 noon (NZ
time) to discuss the FY19 result. Details for this call were released on the NZX and ASX
on 8 July 2019.

Yours faithfully

Rob Hamilton
Chief Financial Officer

---

Results Announcement



Results for Announcement to the Market
Name of issuer SkyCity Entertainment Group Limited
Reporting Period 12 months to 30 June 2019
Previous Reporting Period 12 months to 30 June 2018
Currency New Zealand dollars
Reported Amount (million) Percentage change
Reported revenue from
continuing operations
1,2

$822.3 0.8%
Total reported revenue
3
$905.4

-2.5%
Reported profit (loss) from
continuing operations
1

$160.8 1.3%
Reported total net profit
(loss)
3

$144.6 -14.7%
Normalised
3
Amount (million) Percentage change
Normalised revenue
including gaming GST
$1,118.9 1.6%
Normalised total net profit
(loss)
$173.0 1.9%

Notes:
- ‘Reported’ information is per the audited financial statements
- ‘Normalised’ results sets International Business win to theoretical win rate of 1.35% and adjusts for certain
revenue and expense items. Reconciliation between reported and normalised financial information is
provided at the end of this document
- ‘EBITDA’ = Earnings before interest, tax, depreciation and amortisation
- ‘EBIT’ = Earnings before interest and tax
- ‘NPAT’ = Net profit after tax
- Certain totals, subtotals and percentages may not agree due to rounding
















1
Excludes Darwin operations treated as discontinued operations
2
On the Income Statement this is the total of Revenue, Other income and Share of losses from associates
3
Includes Darwin operations

Results Announcement



Final Dividend
Amount per Quoted Equity
Security
$ 0.100000
Imputed amount per
Quoted Equity Security
$0.038889
Record Date 30 August 2019

Dividend Payment Date 13 September 2019

Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$0.535949 $0.481823
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
SkyCity’s FY19 performance is set out in the company’s
Investor Presentation which is attached to this
announcement. It provides detail and explanatory comment
on operating and financial performance for each business unit
and the SkyCity Group as a whole and various other relevant
aspects of the financial performance for the year ended 30
June 2019.

The Investor Presentation will be available on the company’s
website from 14 August 2019.
Authority for this announcement
Name of person authorised
to make this
announcement
Jo Wong
Contact person for this
announcement
Jo Wong
Contact phone number 09 363 6143
Contact email address jo.wong@skycity.co.nz
Date of release through
MAP
14 August 2019

Audited financial statements accompany this announcement.

Results Announcement


Reconciliation between Reported and Normalised Financial Information

 SkyCity’s objective of producing normalised financial information is to provide data that is useful to the investment community in understanding
the underlying operations of the group − the intention is to provide information which:
• Is representative of SkyCity’s underlying performance (as a potential indicator of future performance);
• Can be compared across years; and
• Can assist with comparison between publicly listed casino companies in NZ and Australia

 This objective is achieved by:
• Eliminating inherent volatility or “luck” factor from IB which has variable turnover and actual win % period to period;
• Eliminating structural differences in our business between periods; and
• Eliminating known different treatments with other NZ and Australian publicly listed casino companies

 Non-GAAP information is prepared in accordance with a Board-approved “Non-GAAP Financial Information Policy” and is reviewed by the Board
at each reporting period. Application of SkyCity’s non-GAAP financial information policy is consistent with the approach adopted in FY18

Results Announcement




FY19FY18
Revenue
$m
EBITDA
$m
EBIT
$m
NPAT
$m
Revenue
$m
EBITDA
$m
EBIT
$m
NPAT
$m
Reported822.3297.8217.8144.6815.9310.0229.2169.5
IB revenue adjustment80.3---68.6---
Gaming GST95.2---91.8---
IB at theoretic al win rate49.938.738.727.84.0(0.5)(0.5)0.4
Sale of Darwin88.720.410.424.7120.628.715.2-
Gain on sale of Federal St car park (17.4)(17.4)(17.4)(17.7)----
Revaluation of Auckland properties-3.23.23.2--
Signific ant tax events---(9.5)
-
---
Normalised1,118.9342.7252.8173.01,100.8338.2243.8169.9

Results Announcement


AdjustmentExplanationRationale
Treat IB commissions
as an expense rather
than reduction in
revenue which reduces
both reported revenue
and operating
expenses within IB (by
$80.3m in FY19 and
$68.6m in FY18)
In FY19, SkyCity adopted NZ IFRS 15 (Revenue from Contracts with Customers)
(“NZIFRS 15”) for the first time. This accounting standard was applied to both
FY19 and FY18 within the group’s financial statements
The main impact of adopting NZIFRS 15 was to reduce both revenue and
expenses by the amount of IB junket commissions. This does not impact
EBITDA, EBIT or NPAT
This adjustment adds back IB commissions and increases both revenue and
expenses. This adjustment does not impact EBITDA, EBIT or NPAT
This adjustment has been made to maintain the relationship between turnover and the
theoretical win rate of 1.35% when determining normalised revenue
This adjustment is consistent with how all NZ and Australian publicly listed casino
companies present revenue for IB
By making this adjustment, SkyCity is enabling the user of its financial information to
more easily compare results to other casino companies. SkyCity believes this enhances
the user’s understanding of comparative results and enables the user to better
understand normalised IB results
Add gaming GST to
reported revenue (by
$95.2m in FY19 and
$91.8m in FY18)
Reported revenue included within the financial statements of the group
excludes GST. This adjustment adds back GST associated with gaming so that
normalised revenue equals the amount bet by gaming customers
All publicly listed NZ and Australian casino companies include GST associated with
gaming within their revenue results. Including gaming GST within reported revenue is
not consistent with GAAP and from FY19 SkyCity has ceased to include gaming GST
within revenue in its financial statements
However, SkyCity does include gaming GST within its normalised revenue. By making
this adjustment SkyCity is enabling the user of financial information to more easily
compare results to other casino companies. This adjustment does not impact EBITDA,
EBIT or NPAT
Apply theoretical win
rate of 1.35% for IB vs.
actual win rate of 1.00%
(FY19) and 1.32% (FY18)
This adjustment recalculates gaming win from IB to the theoretical win rate.
The vast majority of IB play is baccarat. Statistically, over the long-term the
casino expects to win 1.35% of all bets taken on baccarat. However, in any
particular reporting period the actual results of play will vary depending on
“luck”
The 1.35% win rate is used by all publicly listed NZ and Australian casino
companies in addition to casino companies in Asia and the United States. For
FY19 the actual win rate was 1.00% and in FY18 the win rate was 1.32%. SkyCity’s
average win rate over the last 10 years is 1.27% (or 1.33%, excluding FY19)
In order to understand the long-term results within IB there is the need to eliminate the
inherent volatility or “luck” factor. By adjusting win to the theoretical win rate, the users
of the financial information are able to understand the underlying performance of IB
and form a view on the future performance of the business
For internal purposes, including budgeting and determination of staff incentives, the
theoretical win rate of 1.35% is used

Results Announcement



AdjustmentExplanationRationale
Eliminate the impact of
disposing the Darwin
operations (classified as
discontinued
operations from 8
November 2018 and
sold on 4 April 2019)
During FY19, SkyCity sold its Darwin operations
In the group’s financial statements, this has resulted in Darwin being treated as
a discontinued operation from 8 November 2018 (the date of signing the sale
and purchase agreement). As a result of this treatment, the impact of the
Darwin operations for both FY19 and FY18 is reduced to a single line, net of tax,
in the Income Statement (refer note 23 of the group’s financial statements)
Furthermore, as a result of classifying Darwin as a discontinued operation, no
depreciation was booked between 8 November 2018 and 4 April 2019
This adjustment:
Adds back the results of Darwin’s operations in both FY19 and FY18 to
revenue, EBITDA and EBIT
Reverses the net loss on disposal (~$28m)
Calculates a depreciation charge from 8 November 2018 to 4 April 2019
(~$5m) and reduces normalised results by this amount
The disposal of Darwin is a significant and one-off transaction that has impacted the
comparability of the FY19 result with prior years
The adjustments detailed are designed to show, in normalised results, the Darwin
operations in FY19 in a manner consistent with prior years
SkyCity considers this provides more useful information for assessing the current year
performance against prior years
In FY20, Darwin will be fully excluded from both FY20 and FY19 normalised results to
enable appropriate comparisons between these years
Eliminate benefit from
gain on sale ($17.4m
pre-tax) of Federal St
car park (sold in April
2019)
The reported results include a significant, one-off gain relating to the Federal St
car park disposal. The adjustment reverses this gain
The disposal of the Federal St car park is a significant and one-off transaction that has
impacted the comparability of the FY19 results with prior years. SkyCity considers this
provides more useful information for assessing the current year performance against
prior years
Reverse impact of
revaluation (reduction
of $3.2m) of Auckland
properties recently
acquired
During FY18 and FY19, SkyCity acquired a number of investment properties in
Auckland. In accordance with the appropriate accounting standard, these
investment properties will be revalued by an independent expert every year
and the carrying value adjusted within the group’s financial statements
This adjustment reverses the FY19 decline in value of these properties
The revaluation is non-cash and unrelated to the operations of the group
This adjustment will be made each year to determine the group’s normalised results
SkyCity considers that reversing this valuation adjustment provides more useful
information for assessing performance year-on-year

Results Announcement








AdjustmentExplanationRationale
Eliminate significant
tax events (net $9.5m
decrease to normalised
NPAT)
During FY19, SkyCity had a number of significant tax events which have
impacted the reported effective tax rate
ATO tax review
The Australian Tax Office (ATO) undertook a Streamlined Assurance Review of
SkyCity’s Australian operations. This is part of the ATO’s plan to conduct
Streamlined Assurance Reviews over the top 1,000 Australian companies
As a result of this review, SkyCity and the ATO agreed to settle differences of
opinion on the treatment of certain financing arrangements. As a result of this
settlement, SkyCity made a A$3.5 million payment to the ATO. This payment
relates to historical items only and does not change SkyCity’s future tax
payments or tax expense
Auckland car parks deferred tax
During FY19, the group announced it had agreed to sell a concession over the
Auckland main site and NZICC car parks. This transaction will be completed on
19 August 2019. However as at 30 June 2019, the car park assets associated with
a part of the transaction have been classified as “assets classified as held for
sale”
This classification changes the calculation of deferred tax associated with these
assets and as a result a $11.5m reduction in tax expense was booked within the
FY19 Income Statement
Share of partnership expenditure –tax election
In the current year, SkyCity made a NZ tax election for the SkyCity Australian
Limited Partnership. This resulted in a one-off benefit in the FY19 tax expense
Summary
This adjustment eliminates the net reduction (from the above items) in tax
expense for the purpose of the normalised results
These items do not significantly change SkyCity’s future tax expense
For the purposes of the normalised results, these items have been reversed from the
FY19 tax expense in order to show SkyCity’s underlying effective tax rate (when
combined with other tax adjustments outlined in this reconciliation)
SkyCity considers that this net adjustment provides more useful information for
assessing potential future performance of the group

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Annual Report
Year Ended 30 June 2019

An electronic copy of this annual report is available in the Investor Centre section of the company’s
website at www.skycityentertainmentgroup.com
This annual report is dated 14 August 2019 and is signed on behalf of the Board of directors of SkyCity
Entertainment Group Limited (SkyCity or the company and, together with its subsidiaries, the Group) by:
Rob Campbell
Chair
Bruce Carter
Deputy Chair
ABOUT THIS ANNUAL REPORT
Unless otherwise stated, all dollar amounts in this annual report are expressed in New Zealand dollars.
Where appropriate, information is also provided in relation to activities that have occurred after 30 June 2019, but prior to publication of this
annual report.
The non-financial information in this annual report has been informed by the principles and disclosures of the Global Reporting Initiative’s
(GRI) Sustainability Reporting Standards. Ernst & Young has undertaken limited assurance (in accordance with the International Standard on
Assurance Engagements (New Zealand)) over disclosures associated with selected performance data included in the Sustainability section
included in this annual report. A GRI reference index based on the GRI Sustainability Reporting Standards is included on pages 178–181 of this
annual report.
Normalised numbers are a non-GAAP financial measure. A reconciliation of reported and normalised earnings and description of the
differences are provided on pages 174–177.

GENERAL
Year in Review 4
Creating Value 6
Performance 8
Diversity Snapshot 12
Chair’s Review 14
Chief Executive Officer’s Review 15
Delivering Our Group Strategy 16
About SkyCity 24
Auckland 27
Hamilton 31
Adelaide 32
Queenstown 34
International Business 35
Our Risk Profile and Management 36
Our Board 40
Our Senior Leadership Team 44
SUSTAINABILITY
Our Sustainability 48
Our Sustainability Pillars
Our Customers 52
Our People 58
Our Communities 72
Our Suppliers 78
Our Environment 84
Independent Limited Assurance Statement 91
CORPORATE GOVERNANCE STATEMENT AND OTHER DISCLOSURES
Corporate Governance Statement 92
Director and Employee Remuneration 104
Shareholder and Bondholder Information 118
Directors’ Disclosures 121
Company Disclosures 123
FINANCIAL STATEMENTS
Independent Auditor’s Report 127
Income Statement 134
Statement of Comprehensive Income 135
Balance Sheet 136
Statement of Changes in Equity 137
Statement of Cash Flows 138
Notes to the Financial Statements 139
Reconciliation of Normalised Results to Reported Results 174
GRI CONTENT INDEX 178
GLOSSARY 182
DIRECTORY 183
ANNUAL MEETING
The 2019 SkyCity Annual Meeting will be held on Friday 18 October 2019 in the SkyCity Theatre,
Level 3, SkyCity Auckland, Corner of Wellesley and Hobson Streets, Auckland, commencing at
10.00am (New Zealand time).

2019
2018
FEBRUARYJANUARYMARCH
• Sky Tower lit yellow and orange
to depict a sunrise over a 3-week
period to celebrate Matariki,
the Māori New Year
• SkyCity becomes a signatory to
the Climate Change Statement
committing SkyCity to reducing
greenhouse gas emissions in line
with New Zealand’s obligations
under the Paris Agreement
JULYAUGUSTSEPTEMBER
• Record FY18 full-year result with
normalised net profit after tax
(NPAT) up 10.4% to $169.9 million
and reported NPAT up 277.9% to
$169.5 million (due to A$95 million
impairment of SkyCity Darwin’s
goodwill the previous year)
• Sky Tower open day raises more
than $9,000 for Youthline
• SkyCity Teddy Bears’ Picnic in the
Sky Tower raises more than $4,500
for Kidz First Children’s Hospital
• FY18 final dividend paid to
shareholders – 10 cents per share
• SkyCity Auckland welcomes
public health providers into the
casino during Gambling Harm
Awareness Week
• Marek Przyborek (Huami) named
2018 New Zealand Sommelier of
the Year
• Sky Tower hosts the Memorial
Firefighter Stair Climb in honour
of New Zealand firefighters lost
in the line of duty since 1872
• SkyCity announces a climate
change strategy that will see
its New Zealand sites carbon
neutral by the end of 2019, with its
Adelaide site to follow in 2020
• Reported net profit after tax
(NPAT) down 11.4% for the first
half of FY19 to $82.8 million and
normalised NPAT up 11.4% to
$97.0 million
• SkyCity announces on-market
share buy back programme to
purchase up to 5% of its total
ordinary shares on issue
• Installation commences of
Sara Hughes’ 2,400sqm glass
artwork on the exterior of the
New Zealand International
Convention Centre
• Annual Sky Tower New Year’s Eve
fireworks and laser animation
display welcomes in the New Year
• Record visitation of 32,000 people
to the SkyCity Auckland main
casino floor on New Year's Eve/Day
– up 11% from the prior year
• Record New Year's Eve/Day daily
gaming machine turnover at
SkyCity Auckland
• FY19 interim dividend paid to
shareholders – 10 cents per share
• Sky Tower lit as a candle to honour
the victims of the Christchurch
attack and to stand in solidarity
with the Muslim community and
all those affected
• 2019 NRL season officially
launched at SkyCity Auckland,
the official ‘Home of the
Vodafone Warriors’, with squad
members and fans in attendance
Year in Review
We are proud of the contribution we make to the
communities we operate in, and our staff continue
to do us proud, year-on-year.

APRILMAYJUNE
• Carmen Leong (SkyCity Grand Hotel)
wins New Zealand Receptionist
of the Year 2018 at the AICR Hotel
Receptionist of the Year competition
• More than 600 egg trays donated
to the Auckland Council to assist
the safe carriage of eggs from
Great Barrier Island to the
Auckland City Mission
• SkyCity announces plans to
grow its hotels business across
its portfolio and develop its
Queenstown site
• SkyCity agrees to sell SkyCity Darwin
to Delaware North for A$188 million
• Dani Chen (Bellota) wins the 2018
World Tapas Championship in Spain
• SkyCity becomes a Platinum Partner
of Women in Gaming Australasia
• SkyCity's bespoke Māori leadership
programme, Tahuna Te Ahi, wins the
2018 Deloitte Top 200 Diversity
& Inclusion Leadership Award
• Academy Award-winning design
and effects company Weta
Workshop announces plans
to open a new entertainment
experience at SkyCity Auckland
• Danielle Davies (SkyCity Auckland)
named Young Tourism Export
Council’s Rising Star
OCTOBERNOVEMBERDECEMBER
• Sale of SkyCity Darwin to Delaware
North for A$188 million completed
• David Christian appointed as
General Manager Adelaide
• SkyCity agrees to sell a long term
concession to Macquarie
Principal Finance to operate
SkyCity Auckland’s 3,200 car park
spaces until 2048 for $220 million
• SkyCity awarded Gender Tick,
a New Zealand-based accreditation,
in recognition of its commitment to
providing a fair workplace for
all employees
• SkyCity Auckland awarded the
New Zealand Rainbow Excellence
Awards 2019 Training and
Development Award for its
Transition Support framework
• SkyCity announces plans to
launch an offshore online
gaming business
• More than $1.3 million raised
for Leukaemia & Blood
Cancer New Zealand in the
15th Firefighter Sky Tower
Stair Challenge
• SkyCity awarded the Auckland
International Airport Award for
Contribution to the Growth of
Chinese Tourism in New Zealand
at the 2019 HSBC NZCTA China
Business Awards
• The Sugar Club launches
New Zealand’s first ever low
carbon menu
• SkyCity named as a Platinum
winner in the Best Learning &
Development Project – Leadership
Capability category at the
international LearnX Awards for
its Tahuna Te Ahi programme
• Liz Burrett (SkyCity Auckland)
named Hotel Industry Sales,
Marketing & Distribution Employee
of the Year at the 2019 New Zealand
Hotel Industry Awards
GENERAL
5

Inputs
FY19 OPERATING
EARNINGS BY PROPERTY
Hamilton 8%
International
Business 12%
Adelaide 6%
Darwin 5%
Food and Beverage 11%
Auckland 79%Local Gaming 63%
Queenstown & Wharf 1%
Hotel and
Conventions 8%
FY19 REVENUE BY
BUSINESS ACTIVITY
Our Business
Creating Value
FINANCIAL CAPITAL
Pool of funds (equity, debt and grants) available
to SkyCity from banks, shareholders and
bondholders or generated through SkyCity’s
operations or investments
MANUFACTURED CAPITAL
Manufactured production-orientated
physical objects (buildings, equipment and
infrastructure) available to SkyCity that
contribute to the delivery of SkyCity’s products
and services
INTELLECTUAL CAPITAL
Intellectual property, organisational capital,
brand and reputation developed by SkyCity
HUMAN CAPITAL
Competencies, capabilities and experience of
the SkyCity workforce and SkyCity’s capacity to
add value through human capital development
SOCIAL AND RELATIONSHIP CAPITAL
Relationships within SkyCity and with external
stakeholders that enhance individual and
collective wellbeing and are essential to
SkyCity’s social licence to operate
NATURAL CAPITAL
Renewable and non-renewable environmental
stocks (air, water, land and ecosystem health)
that provide goods and services that support
SkyCity’s current and future prosperity
PARKING
2,248 parking bays
HOSPITALITY
23 restaurants
16 bars
HOTELS
635 hotel rooms
CONFERENCES
6,266 sqm of conference rooms
SKY TOWER
328 metres tall
5,031 staff
5 properties across New Zealand
and Australia
Note: The sale of the SkyCity Darwin business was completed on 4 April 2019. Accordingly, the SkyCity Darwin business is not included in
the figures provided as at 30 June 2019, but is included for the period from 1 July 2018 – 3 April 2019 for the purposes of the FY19 Operating
Earnings by Property graph, FY19 Revenue by Business Activity graph and FY19 annual visitation and normalised revenue information.
as at 30 June 2019
International Business 1%
Other 6%
GAMING
5 casino licences
3,204 electronic gaming machines
273 table games
307 automated table games

$161 million in taxes to Governments
$301 million in salaries & wages to staff
$135 million of dividends declared in relation
to FY19 period for shareholders
$14 million in community contributions, levies
and sponsorships
$178 million to suppliers
$344 million of capital invested
$38 million in interest paid to lenders
Outputs &
Financial Results
Outcomes
& Impacts
FY19 revenue (including gaming GST) and annual visitation
GAMING
$764 million
(reported)

$831 million
(normalised)
2.8million visits from
loyalty card members*
HOSPITALITY
$111 million5.7 million
restaurant/bar covers
HOTELS
$54 million228,000
rooms occupied
CONFERENCES
$22 million 160,000
conference delegates
SKY TOWER
$18 million 574,000 visits
PARKING
$8 million 2.2 million cars parked
* Calculated by reference to customers who used their SkyCity Premier Rewards cards
to game, where one visit records a customer's patronage on a day irrespective of how
many times they used their card on that day.
Customers
Be responsible hosts
Happy, safe customers
People
Inspire our people
Great, safe place to work
Communities
Grow our communities
Thriving local communities
Suppliers
Source responsibly
Consistent ethical sourcing
GENERAL
Environment
Protect the environment
Significantly lower
emissions
7

Performance
Our FY19 Highlights
SkyCity delivered a solid financial performance in FY19, underpinned by strong growth in our
International Business and good results from the combined New Zealand properties. Adelaide was
stable on a like-for-like basis, despite ongoing to construction disruption experienced from the
redevelopment project.
The key features of the FY19 result are:
7.4%
growth over FY18 due to growth in visitation, new product mix and floor layout
$450 million
to be released from the sale of SkyCity Darwin, Auckland car park concession and Federal Street car park
20 cps
comprising an interim dividend of 10 cents per share and a final dividend of 10 cents per share,
which will be paid on 13 September 2019 to all shareholders on the company’s register at the
close of business on 30 August 2019
Auckland electronic gaming machine revenue
Net asset sale proceeds
Dividends (fully imputed)
$144.6 million
down 14.7% due to a win rate in International
Business of 1.00% (below the theoretical win rate of
1.35%) and other significant items
Reported NPAT
$297.8 million
down 3.9% due to a win rate in International Business
of 1.00% (below the theoretical win rate of 1.35%) and
other significant items
Reported EBITDA
$14.1 billion
up 19% on FY18 with gain in share of Australia/NZ VIP market
International Business turnover
$173.0 million
up 1.9% over the previous comparable period
Normalised NPAT of
$342.7 million
up 1.3% over the previous comparable period
Normalised EBITDA of
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

Our Performance History
Earnings Per Share (EPS) and Dividend Per Share (DPS)
0.0
5.0
10.0
15.0
20.0
Cents per share
25.0
30.0
FY15
22.9
22.0
20.0
FY16
25.5
24.3
21.0
FY17
23.4
6.8
20.0
FY18
25.3
25.4
20.0
FY19
21.4
25.6
20.0
Declared DPS
Reported EPS
Normalised EPS
Group EBITDA
0.0
50
FY15FY16FY17FY18FY19
100
150
200
$ million
250
300
350
305
330
320
304
307
310
334
338
298
343
Reported
Normalised
Group Revenue
0
200
FY15FY16FY17FY18FY19
400
600
800
$ million
1,000
1,200
1,008
1,084
1,029
867
919
878
816
1,101
822
1,119
Reported
Normalised
(Including Gaming GST)
Enterprise Value
0.0
500
FY15FY16FY17FY18FY19
1,000
1,500
2,000
$ million
2,500
3,000
3,500
3,110
3,357
3,072
3,196
3,036
2,467
643
3,009
348
2,723
349
2,749
447
488
2,548
Net Debt
(2)
Equity Value
(1)
(1) Based on the share price and number of shares on issue as at 30 June in each financial year.
(2) Gross hedged debt less cash at bank as at 30 June in each financial year.
Notes: (a) FY15–FY19 reported Group revenue figures have been adjusted for New Zealand IFRS 15 (Revenue from Contract with Customers);
and (b) reported Group revenue and reported Group EBITDA figures for FY18 and FY19 exclude SkyCity's Darwin operations, which were
discontinued on 4 April 2019.
GENERAL
9
Performance

Better
communities
at the heart
of what
we're doing
Our sustainability initiatives are focussed on doing good for our communities
– our customers, employees and suppliers. Our objective is to ensure that our
strategic decisions strengthen the communities we operate in and provide
environments and opportunities for our customers, suppliers and staff to enjoy,
to be entertained and to be safe.

FY19 Performance Highlights
Our Customers
In the 2019 SkyCity Employee
Engagement Survey, our staff rating as a
'responsible host' was 88% – an increase
of 2% from the 2017 survey
Our Communities
We paid a total of $4.0 million (assured) to
the four New Zealand SkyCity Community
Trusts for distribution to communities in
the Auckland, Waikato and Queenstown
Lakes regions and distributed over
$1.6 million (not assured) in
sponsorships to individuals
and organisations
Our People
We established the SkyCity Inclusion
Council to support the embedding of
an authentic and inclusive culture
within SkyCity Auckland
Our Environment
We will be among the first major
New Zealand companies to go carbon
neutral, achieving carbon neutrality
across our New Zealand sites
in 2019
Our Suppliers
We developed and adopted a new
ethical and responsible sourcing
strategy for the SkyCity Group
GENERAL
11

S TAFF
STAFF
AGE
DISABILITIES
LGBTTI+ COMMUNITY
WE HAVE
(full-time, part-time
and casual)
identify as having
a disability
identify as being
a member of the
LGBTTI+
community
35 YEARS
average age of
our workforce
83 YEARS
age of our oldest
staff member
59%
of our workforce are
36 years old and under
5,031
1%
6%
Millennials (24–36 years)
Generation X (37–53 years)
Generation Z (<23 years)
Baby Boomers (54–75 years)
Veterans (76–93 years)
SkyCity is a major employer with over 5,000 staff
and growing. We employ a diverse range of people
at all skill levels and aim to create an environment
where people are at the centre, are motivated
to work hard, progress in their careers and are
empowered to grow and achieve.
The following graphic shows the diverse make up of
our workforce as at 30 June 2019.
18.8%
40.8%
28.8%
11.5%
0.1%
Diversity
Snapshot
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

WOMEN IN LEADERSHIP
GENDER BREAKDOWN
ETHNICITIES*
of leadership
roles held
by women
48.8%
WOMEN
0.1%
GENDER DIVERSE
51.1%
MEN
38%
different languages
Staff speak/write in
60
VS
Chinese 16.5%
15.1%
11.3%
9.3%
8.1%
7.7%
6.1%
6.0%
3.4%
2.7%
OUR TOP 10 ETHNICITIES STAFF IDENTIFY WITH:
OUR TOP 3 NON-ENGLISH LANGUAGES:
New Zealander
Indian
Australian
Māori
Other Asian
Filipino
European
Other European
Samoan
Mandarin, Tagalog (Philippines) and Hindi
*Given as a percentage of those staff members who provided details about their ethnicity.
The gender composition of SkyCity’s directors, officers, senior executives and total workforce as at
30 June 2019 and, comparatively as at 30 June 2018, is set out below:
FemaleMale
2019Number%Number%Total
Directors233%467%6
Officers338%562%8
Senior Executives436%764%11
Total Workforce2,45649%2,56951%5,025
FemaleMale
2018Number%Number%Total
Directors229%571%7
Officers343%457%7
Senior Executives440%660%10
Total Workforce2,73748%2,95052%5,691
In the above tables:
• ‘officers’ are the Chief Executive Officer and those directly reporting to the Chief Executive Officer, other than the
Executive Assistant;
• ‘senior executives’ are those who hold a strategic position (as determined by the People and Culture Committee from
time to time) and are noted as a ’senior executive’ in the SkyCity Board Charter; and
• the ‘total workforce’ number does not specify those who identify as gender diverse.
TOTAL WORKFORCE
GENERAL
13
Diversity Snapshot

Chair’s Review
The past year has been one of solid
performance by SkyCity’s ongoing
business while progress has been made
on major projects setting the stage for
future improvement.
Reported net profit was down 14.7%, impacted
by some significant transactions, including the
sale of SkyCity Darwin and a lower win rate in
International Business. Normalised net profit,
which is a commonly referenced measure of
performance in the casino industry in Australasia,
was up slightly from the preceding year.
The FY19 outcome was negatively impacted by
some specific events, such as the imposition of
a new 'bed tax' on our Auckland hotel revenue,
a $6.5 million increase in effective tax rate and
the earnings from our SkyCity Darwin property
being available for only 9 months due to its sale.
Our operations in Auckland and Adelaide continue
to face disruption from surrounding development.
The wider economic and tourism conditions
have not been buoyant. Those things noted,
along with the costs associated with rectifying a
substantial technology deficit across the business,
performance must improve.
The aim of SkyCity is to be a business which
succeeds in financial, social and environmental
terms in the long run. This is an “all of business”
objective which requires the active commitment of
all of our leadership and staff. We judge ourselves,
and expect to be judged by others, across this
full range. Our success must be part of the success
of the communities of which we form part.
Given this, we have applied considerable attention
to our staff training and involvement programmes
based on diversity, skills and performance;
refocussed our community funding programmes
on youth and employment development; and
taken a more defined and positive position on
climate change response. We have continued
to develop our alcohol and gambling addiction
programmes in monitoring and support.
The primary task of the SkyCity Board is the
efficient allocation of capital. There has been
genuine progress here since I identified
last year a strategy to enhance returns on
capital employed in the business. The sale of
the SkyCity Darwin business, the long term
concession of our SkyCity Auckland car park
assets and the Federal Street car park in
Auckland reflect this strategy. These sales will
net the business around $450 million to reduce
debt, institute a capital returns programme and
fund our ongoing and future growth projects.
The overall impact is to place the business in a
strong position to fund the ongoing repair of our
technology platform and other value enhancing
projects under consideration.
The Auckland and Adelaide construction projects
have made progress and are being intensively
managed within the terms of their build contracts.
The Auckland project is the subject of unacceptable
and costly delays, but will deliver an impressive
convention centre and hotel complex which will
be of considerable ongoing value to our business
and a national asset in its own right. Integrated as
it will be with our other hotel and entertainment
properties in the precinct, including expanded
activities and food and beverage outlets, today’s
construction site will become tomorrow’s gathering
place for locals, tourists and convention attendees
for many decades.
The Adelaide casino and hotel expansion project
is moving at pace. This project is fully integrated
with a massive city redevelopment around the
iconic Riverside and Oval. We remain confident
that this project will greatly enhance the value of
our Adelaide property, lifting its performance to
required levels.
In all of our casino properties, we continue to
invest to provide our customers with up-to-date
products and experiences equal to that of casinos
throughout the world. Our customers cover a
wide range of gaming interests, levels of play and
service expectations. Their satisfaction with their
experience is vital to our success and it is in the
nature of our business that we must be constantly
reinvesting to meet their demands. This makes
our vigilance and control over capital and risk all
the more critical.
Rob Campbell
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

Chief Executive Officer’s Review
The year under review has been a good
one for SkyCity with a continuation of
the positive momentum that has been
evident in the business over the last
few years.
Features of the year include:
• Reported earnings before interest, tax,
depreciation and amortisation (EBITDA)
down 3.9%, and reported net profit after
tax (NPAT) down 14.7%, due to a lower win
rate in International Business and other
significant items
• Normalised EBITDA up 1.3%, and normalised
NPAT up 1.9%, despite a more challenging
operating environment
• Excellent progress on our major project in
Adelaide – due to open towards the end of 2020
• Making progress on our major project in
Auckland – now expected to complete towards
the end of 2020. We continue to engage with
the main construction contractor to expedite
the project
• Sale of SkyCity Darwin and Auckland car parks
(main site concession and Federal Street) –
expected to release $450 million of cash proceeds
• Successful buy back of $39 million of shares
on-market as part of our refreshed capital
allocation framework
• Declaration of a fully-imputed final dividend
of 10 cents per share – bringing total FY19
dividends to 20 cents per share
• Offshore online casino launched in August 2019
in partnership with Gaming Innovation Group
• Development of master plans for Auckland,
Hamilton and Queenstown, including the
acquisition of land in Queenstown and
consolidation of properties adjacent to the
SkyCity Auckland precinct
• Refreshed brand launched on 1 July 2019
• Continued investment in our people with new
staff values approved – “Own it, Share it, Live it”
• Ongoing investment in key sustainability
initiatives
Overall, I am pleased with where we have finished
the year, particularly our operating results
which were slightly ahead of expectations − full
credit to the team for delivering the numbers.
These results were achieved against the backdrop
of a more challenging operating environment,
both domestically and internationally, and
increased cost pressures across the business.
When you adjust for the sale of our Darwin
property (which closed in April 2019) and
legislative changes increasing our effective
tax rate, normalised NPAT for FY19 was up 7.5%
relative to the previous corresponding period.
Reflecting on the current economic environment
(both local and international), our outlook
for FY20 is more cautious than prior periods.
However, we continue to expect growth on a
like-for-like basis and will be working hard to
achieve this. Comparability of our FY20 earnings
to prior periods will be complicated by structural
changes to the business (ie. asset sales and
the upcoming closure of our existing SkyCity
Auckland Convention Centre while it is readied
for Weta Workshop and the All Blacks Experience)
and higher pre-opening costs as we ramp up
preparations to operationalise our new assets in
Auckland and Adelaide post completion.
Our refreshed Group strategy, now in its second
year, has a clear emphasis on the creation of
shareholder wealth and a focus on sustainability
initiatives critical to our social licence to
operate. The progress we have made across
our key sustainability initiatives is an area I am
particularly proud of in the year under review.
Being recognised at the Deloitte Top 200 Awards
as the winner of the Diversity & Inclusion category
for our Māori leadership programme, Tahuna
Te Ahi, was a great moment for SkyCity, as is
our progress towards being carbon neutral in
New Zealand by September 2019 (and Adelaide
during 2020).
We refreshed our brand across our New Zealand
properties from 1 July 2019 with a new, more
contemporary logo which reflects our values
of “Own it, Share it, Live it” and the modern,
dynamic, entertainment company we are today.
Our Adelaide property will follow this refresh in
2020 to coincide with completion and opening of
the expanded casino and new hotel project.
Everyone has been really stretched to accomplish
the many strategic initiatives whilst also improving
the underlying operations. This pressure will
continue through next year and the following as
we open and establish our two major projects –
in addition to managing the completion of the
developments themselves we will be recruiting
and training around 1,500 new team members.
A big thank you to the SkyCity Board for their
ongoing support of me and the Senior Leadership
Team over the past year and to my team across the
business for their tireless efforts and positive energy.
Graeme Stephens
GENERAL
15

Communities
need good
businesses
By creating value for others,
we create value for SkyCity.

Delivering Our Group Strategy
Last year, we announced a refreshed Group medium term strategy which has a
clear focus on the creation of both sustainable shareholder returns and enhanced
social and sustainability initiatives critical to the long term viability and success
of SkyCity.
Key considerations when setting the strategy were:
• profitability of our business is roughly 80%
from New Zealand and 20% from Australia.
Shareholders are comfortable with the
relatively low country risk and regulatory
environments that these jurisdictions offer and
we are likely to remain focussed on this region
for the foreseeable future;
• our business is predominantly gaming-led,
with roughly 80% currently coming from the
casino component. The long term, exclusive
nature of our casino licences provides a solid
underpin to the risk profile of the business.
We have strategically evaluated our existing
casino licences to ensure we are maximising
the potential within them and have identified
further opportunity for growth in the premium
market as well as our Queenstown licences;
• there are unlikely to be many (if any) new
land-based casino licence opportunities in our
jurisdictions of operation, so growth (other than
organic growth) will have to come from other
lines of business. The balance of our business
essentially derives from hotels and restaurants.
Our restaurants are relatively low margin and
exist primarily to service our gaming, hotel
and conventions customers and to ensure
that our destinations remain relevant in their
communities. Our hotels are higher margin
businesses and there is an opportunity to scale
up our portfolio and expertise;
• we are cognisant of a strategic need to
remain abreast of developments in the online
and digital space and, where appropriate,
to ensure that we take up opportunities that
will ensure we continue to offer a relevant form
of entertainment;
• a review of our existing precincts to ensure
that we are maximising opportunities has
highlighted areas of potential investment
into premium gaming spaces, hotels (as
highlighted above) and entertainment to
ensure our destinations remain relevant to
customer demand. Where necessary, we are
prepared to acquire property to ensure we
are future-proofed;
• we have two major projects currently underway
that have committed us to ~$800 million of
debt over the next few years. While we are
very comfortable with our ability to service
and repay this level of gearing, it does not
leave us with any significant debt capacity
for other expansionary projects or initiatives
in the short term. Any funding requirements
for new initiatives will be raised through sale
of non-core assets and/or partnering using a
“capital lighter” approach; and
• the relatively high dividend yield that SkyCity
offers is valued by shareholders and should be
preserved and recognised when looking at any
future funding requirements.
GENERAL
17

Our Vision
Our Character &
Culture Goals
To be the leader in gaming, entertainment
and hospitality in our communities
Offer a great
and safe
place to work
Always put
customers
first
Be responsible
leaders in our
communities
Our Business Goals
Improve
our operating
performance
Optimise
our existing
portfolio
Grow and
diversify our
business

This section provides a summary of SkyCity’s
performance and strategic positioning to create
value during the 2019 financial year and our
priorities for the year ahead.
FY19 Performance –
Our Business Goals
Improve our Operating Performance
During the financial year, we successfully
implemented several initiatives to improve
our operating performance, including new
events/promotions, more effective marketing,
investing in new products and placing a greater
emphasis on data analytics.
The benefits of new gaming product and changes
to the floor layout are being realised across
the Group, particularly in Auckland, as is our
ongoing investment in premium/VIP gaming.
Our International Business has seen increased
visits from major customers, which has led to a
record year in terms of turnover and normalised
profitability. Plans to significantly upgrade our
premium gaming areas in Auckland are underway
with a complete refurbishment of Levels 8 and 9
of the main casino site due to be completed by
the second half of FY20.
We continue to make good progress on our
ICT investment and digital capability. We have
delivered significant change to critical ICT
infrastructure over FY18 and FY19 and are now
at a point where we can focus on initiatives
to enhance the customer experience, centred
around customer relationship management and
loyalty improvements.
SkyCity remains firmly focussed on achieving
efficiencies where possible to offset cost inflation
and achieve operating leverage. SkyCity has a
lean operational model with detailed cost reviews
completed annually.
We were excited to launch a refresh of our
brand on 1 July 2019 in New Zealand with
changes to signage and brand collateral being
progressively implemented. Our new brand is
reflective of who we are now − a diverse, dynamic,
entertainment company. Our approach to the
refresh has been to focus on the customer and
to make incremental changes to avoid a costly
replacement of touchpoints. We plan to launch
the refresh in Adelaide around the time the new
expanded facility opens, which will also coincide
with a name change from Adelaide Casino to
SkyCity Adelaide.
Optimise our Existing Portfolio
We have progressed a number of key initiatives
to optimise our existing portfolio over the year
in review.
The New Zealand International Convention
Centre and Horizon Hotel project, which has been
subject to considerable delays from originally
contracted completion dates, is proceeding
albeit slower than desired. The convention
centre is close to being watertight and the
shape and form of the meeting rooms, plenary,
exhibition floor and public spaces is coming to
life. The unique glass panels and terracotta spine
wall created by New Zealand artists, Sara Hughes
and Peata Larkin, are now visible at street level.
The 300-room, 5-star hotel is well advanced with
the external façade completed and internal fitout
well progressed. At this stage, we continue to
expect completion of the project towards the
end of 2020 and expect no material changes to
previous guidance on the total investment for
the project.
Excellent progress has been made on our
expansion of the Adelaide Casino during the
year. The project is progressing well with Hansen
Yunken, the main construction contractor, on time
for a September 2020 completion. The 'topping
off’ of the new facility is expected to take place
in September 2019 and the hotel, casino levels
and public spaces are well established – the first
glass panels were installed in early June 2019.
Walker Corporation, which is developing Festival
Plaza and a 1,500-space car park (adjacent to the
casino), is progressing satisfactorily. SkyCity still
expects to deliver the project in-line with its
A$330 million budget.
Significant attention is being given to preparing
both projects for operationalisation to ensure
a smooth handover and ensure we can hit the
ground running post openings. As a result, you
will note a step up in pre-opening costs in both
Auckland and Adelaide as we near completion.
SkyCity’s master planning for the Federal Street
precinct in Auckland is beginning to take shape,
with the property acquisitions largely completed
and the move of Head Office to SkyCity HQ on the
corner of Albert and Victoria Streets underway.
This move will allow for Federal House on
Federal Street to be demolished and become
part of a broader precinct development, which
will include accommodation, retail and further
entertainment/hospitality. SkyCity is actively
seeking a development partner to co-invest in
developing the Federal Street block and to further
unlock the value of the precinct.
GENERAL
19
Delivering Our Group Strategy

SkyCity continues to evaluate the potential for
further development opportunities in both
Hamilton and Queenstown. We own undeveloped
freehold land in Hamilton adjacent to our casino
which could accommodate a hotel. Our decision
to proceed with any development will be
influenced by a need to increase the number of
electronic gaming machines at the property as we
are already capacity constrained on weekends.
In Queenstown, we have successfully acquired
a hectare of lakefront land (633 Frankton Road)
with panoramic views of the Remarkables and
Lake Wakatipu. Premium accommodation in
Queenstown remains undersupplied despite
the prominence of high-value tourists − a
significant opportunity exists for SkyCity to
provide an integrated gaming/lodging offering for
VIP/premium customers given the popularity of
the location.
Given the nature and size of our potential
investments in Hamilton and Queenstown,
certain regulatory changes will be required.
Consistent with our intention to pursue
opportunities to go “capital lighter”, we have
concluded the sale of our SkyCity Darwin
property and the Federal Street car park and
have gone unconditional on the sale of the
long term concession over our Auckland car
parks (expected to complete on 19 August 2019).
These transactions will release significant capital
(around $450 million) to repay bank debt in the
first instance and then recycled into capital return
initiatives and strategic opportunities.
SkyCity remains focussed on effective capital
allocation and our balance sheet is in a strong
position to deliver on our medium term
strategic plan. A combination of surplus cash
due to asset sales and there being no immediate
requirement for re-distribution of proceeds into
strategic projects (and a share price trading
below our view of fair value), saw SkyCity proceed
with an on-market share buy back programme
during 2H19 with $39 million in total shares having
been acquired by 30 June 2019. We have Board
approval to buy up to 5% of issued capital under
the buy back programme. Even assuming the full
buy back is executed, we have sufficient funding
headroom to invest in our master planning
opportunities in Hamilton and Queenstown on
a standalone basis and stay within acceptable
gearing limits, but would need a development
partner in Auckland to make the investment
feasible and not stretch our balance sheet.
Consistent with prior periods, we remain
committed to both our BBB- credit rating, which
was recently reinforced by Standard & Poor’s,
and our existing dividend policy, which offers
shareholders attractive yield through the cycle.
Grow and Diversify our Business
Hotel Strategy
SkyCity is progressing with its strategy to grow
its hotel business. SkyCity’s existing presence in
hotels is expanding in Auckland and Adelaide over
the next 18 months. As previously highlighted, we
also see potential for further hotels connected
to existing precincts in Auckland, Hamilton and
Queenstown as part of master planning initiatives,
and potentially a second hotel in Adelaide
over time.
SkyCity recognises the value that it is creating
through the development of a portfolio of
hotels and remains keen to introduce an
investment/development partner at an
appropriate price and time. There is no immediate
need or requirement to release capital from a
partial sale or monetisation of our hotel assets
and we have sufficient capacity to progress the
current pipeline of initiatives.
Online Gaming
In May 2019, we announced that SkyCity, via a
Maltese subsidiary, had agreed to partner with
Gaming Innovation Group (a leading European
based online gaming platform provider) to provide
an offshore online casino gaming platform for
New Zealand customers. The SkyCity online
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

gaming site was subsequently launched in
early August 2019 and offers high-quality host
responsibility and a brand name New Zealanders
can trust.
Gaming Innovation Group provides SkyCity Malta
with a full-suite online casino solution which
includes a technical platform, gaming content,
managed services and front-end development.
The SkyCity online casino business is managed by
an Online Director who is based in Europe.
SkyCity would support regulation of the
New Zealand online casino market, including
introducing an appropriate licensing regime for
operators and imposing taxes and mandatory
host responsibility requirements. While ultimately
a regulated online gaming market remains
the preferred solution for SkyCity, the launch
of the SkyCity online casino is another step on
the journey of pursuing opportunities to grow
and diversifying our earnings, addressing a fast
growing industry which is highly complementary
to our land-based activities and offering
customers a multi-channel gaming experience.
Other Forms of Entertainment
As an entertainment and hospitality provider,
SkyCity is challenged to stay relevant in relation
to new forms of entertainment competing
for disposal income. Digital entertainment is
obviously growing rapidly and, in addition to our
foray into online gaming, we have also invested
into New Zealand’s leading broadcaster and
operator of esports, Let’s Play Live Media. We now
own 100% of this business and, although it’s a
relatively small investment, given that esports is
one of the fastest growing forms of entertainment
globally (and particularly popular with millennials),
we are hopeful that there will be synergies that we
can develop to increase visitation to our properties
as well as enhance brand awareness.
In addition, in 2020, our existing SkyCity Auckland
Convention Centre becomes home to the All Blacks
Experience and Weta Workshop, both providing
unique, interactive customer experiences.
Federal Street will become an entertainment
zone focussed on food, beverage and family/kids’
entertainment ensuring long term relevance of
our precinct. SkyCity considers itself privileged to
be partnering with two of New Zealand’s iconic
global brands which, together with the Sky Tower,
will create a must-see entertainment destination in
Auckland, with more attractions to come.
FY19 Performance – Our
Character and Culture Goals
At SkyCity, we need to continually focus on
protecting and enhancing our social licence
to operate. Following the progress made
during FY18, we have continued to invest in key
sustainability initiatives.
Pleasingly, we are starting to be recognised as
a leader in these areas, culminating in being
recognised at the Deloitte Top 200 Awards as the
winner of the Diversity & Inclusion category for
our Māori Leadership programme, Tahuna Te Ahi.
We continue to actively promote women into
leadership positions and are proud of the gender
and cultural diversify we have across the business.
We are also committed to providing safe, fun
and progressive environments for our customers,
suppliers and staff. We continue to deliver on our
Group health and safety strategy, which is centred
around preventing harm and building awareness.
We remain focussed on youth development and
supporting our most vulnerable staff.
At SkyCity, we are proud of, and rely on, our
culture of compliance, which encourages people
to focus on doing the right thing by themselves,
their team mates, the company and stakeholders.
A recent culture survey produced strongly positive
results and underpins our refreshed staff values
“Own it, Share it, Live it” - these were developed
in consultation with staff and hence reflect what
working at SkyCity means to them.
GENERAL
21
Delivering Our Group Strategy

Outlook for FY20
Due to structural changes in the business (ie. the
sale of SkyCity Darwin and Auckland car parks,
conversion of the existing SkyCity Auckland
Convention Centre and increased pre-opening
costs in advance of the two main projects), direct
comparability of FY20 earnings to the previous
corresponding period will be challenging.
We intend to establish a like-for-like base against
which FY20 should be measured and we will
endeavour to break down and present our FY20
results in a clear fashion enabling the market to
assess the underlying performance of the Group.
Despite a more challenging and uncertain
operating environment domestically and
internationally, we continue to expect revenue
growth across our various businesses, partially
offset by increased cost pressures. We continually
monitor the potential for an economic slowdown
and currently believe there is more we can
do to improve our performance and hence
expect to achieve some earnings growth on a
like-for-like basis.
We would describe FY20 and FY21 as transitory
years for SkyCity as we ready and open the two
new major projects. We have a strong platform to
drive positive medium term earnings growth and
a high-quality team focussed on delivery of our
strategic plan. Our balance sheet is conservatively
geared, our existing projects are funded and,
whilst we continue to develop our Group master
plans, we are yet to commit to anything new
that could significantly impact us. We continue
to invest for the future and look through the
cycle to the earnings potential of the business
in FY22/FY23 and beyond. In the meantime, we
have stable and defensive earnings and pay an
attractive dividend yield which should protect
shareholder wealth.
Our Business GoalsFY20 Priorities
Improve our
operating
performance
• Continue growth in core Auckland gaming business
• Drive improved performance from Adelaide business
• Secure product changes for Hamilton gaming business
• Achieve further growth in international VIP gaming business (both tables and
electronic gaming machines)
• Implement new information and communications technology (ICT) systems,
including point-of-sale and rostering
• Continue to pursue operating efficiencies and mitigate external cost pressures
Optimise our
existing portfolio
• Progress New Zealand International Convention Centre/Horizon Hotel project
and Adelaide expansion project within agreed timeframes and budgets,
and continue preparation for the new operations associated with these two
major projects
• Complete upgrade of Auckland VIP/premium gaming areas
• Enhance Auckland main gaming floor food and beverage facilities
• Progress evaluation and design of Auckland master plan and commence
initial projects
• Progress evaluation and design of development opportunities in
Hamilton and Queenstown (including any required regulatory approvals)
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

Our Character and
Culture Goals
FY20 Priorities
Grow and diversify
our business
• Launch offshore online casino business and support regulation of online
casino activities in New Zealand
• Create separate internal structure for hotel business (both management and
ownership) and evaluate new hotel opportunities
• Support development and opening of new entertainment attractions in Auckland
Offer a great and
safe place to work
• Maintain a cohesive management team focussed on strengthening the
SkyCity culture – one which supports employees to achieve their potential,
be engaged and deliver an exceptional customer experience
• Continuous improvement in health and safety performance as evidenced by
achievement of leading and lagging indicator targets
• Zero work-related fatalities on our sites and/or sites where SkyCity has primary
control or management responsibilities
• Deliver employment opportunities for youth through the Project Nikau
programme
• Maintain labour practices commensurate with an employer of choice
• Undertake safety engagement activities that promote active and visible
safety leadership
Always put
customers first
• Implement facial recognition technology on gaming floors following the
successful trial in FY19
• Maintain best practice host responsibility standards across all properties
• Launch new customer website and app for New Zealand customers
• Develop digital web and mobile products for Adelaide business to bring in line
with rest of the Group (for launch in FY21)
• Build foundations for a new customer data platform to provide more relevant
insights and communications
• In preparation of the new customer data platform, continue to improve
performance of SkyCity’s Premier Rewards loyalty programme and customer
experiences across each property
Be responsible
leaders in our
communities
• Maintain leading position on diversity and inclusion through active
engagement on issues and with stakeholder groups
• Measure and reduce SkyCity’s carbon footprint and implement a carbon offset
strategy for all operations in New Zealand and Australia by the end of FY20
• Deliver year one of SkyCity’s ethical supply chain roadmap
GENERAL
23
Delivering Our Group Strategy

Delivering
award-winning
entertainment
destinations

About SkyCity
SkyCity is New Zealand’s largest tourism, leisure and entertainment company and
is dual listed on the New Zealand and Australian stock exchanges.
As one of three major publicly listed casino
operators in Australasia, SkyCity operates
integrated entertainment complexes in
New Zealand (in Auckland, Hamilton and
Queenstown) and in Adelaide, Australia.
In addition to casino gaming facilities at each
of its complexes, SkyCity also offers premium
restaurants, bars and conference facilities which
appeal to both domestic and international visitors
alike. Additionally, SkyCity offers award-winning
hotel accommodation in Auckland.
SkyCity employs over 5,000 staff across its
operations in New Zealand and Australia, with
around 3,500 of them based at its flagship
property in Auckland across 200+ job types.
Upon completion of the New Zealand International
Convention Centre and Horizon Hotel projects in
Auckland and the A$330 million expansion project
in Adelaide (both due for completion in 2020),
SkyCity’s workforce will significantly increase
in size.
An Exciting New Era
July 2019 signalled the start of an exciting new era
for SkyCity with the rollout of a refreshed brand
and logo. The new look SkyCity brand represents
the leading entertainment business we are today
and the exciting new experiences across our
gaming, hospitality and entertainment portfolios
coming soon. Our world-class casinos, hotels,
attractions, conference facilities and hospitality
outlets are naturally vibrant epicentres of our
communities and we have become synonymous
with entertainment.
Our new brand logo reflects the sum of many
parts of our business and the ‘k’ includes a nod
to our most famous landmark, the Sky Tower.
The new brand logo also pays homage to the
stars of the Southern Hemisphere and, in many
instances, incorporates the use of light – just like
the light we reflect into our communities and our
customers’ lives.
The SkyCity brand and logo have been refreshed
but our name, exceptional service and all
the benefits our customers know and love
remain unchanged.
The brand rollout comprises several programmes
of work to address the thousands of touchpoints
across our properties. Adopting a sustainable
approach to the change, collateral will be replaced
as needed with New Zealand’s rebrand expected
to be completed by early 2020. Our Adelaide
property will be rebranded in 2020 to coincide
with major openings there.
SkyCity Auckland
SkyCity Hamilton
SkyCity Queenstown
and SkyCity Wharf
Adelaide Casino
GENERAL
25

1996
SkyCity opens its flagship SkyCity Auckland complex with
Harrah's Entertainment (now Caesars Entertainment),
the largest casino entertainment operator in the United States,
as the operator
SkyCity lists on the New Zealand stock exchange
1994
Construction of the SkyCity Auckland complex commences
1998
Harrah's management contract ends and SkyCity
becomes a New Zealand-managed operation
2002
SkyCity Hamilton opens
2012
SkyCity acquires full ownership
of SkyCity Queenstown
2016
The first sod was turned on the New Zealand
International Convention Centre/Horizon Hotel site
2019
SkyCity sells SkyCity Darwin
SkyCity online casino launched offshore
1999
SkyCity lists on the Australian stock exchange
1997
Sky Tower opens in Auckland
2000
SkyCity Queenstown opens
SkyCity acquires Adelaide Casino
2004
SkyCity acquires SkyCity Darwin
2005
SkyCity acquires full ownership of SkyCity Hamilton
2013
SkyCity acquires SkyCity Wharf in Queenstown
2018
Construction commences on the Adelaide Casino
expansion project
OUR HISTORY AT A GLANCE

Auckland
PropertySkyCity Auckland, New Zealand
General Manager
Michael Ahearne, Group Chief Operating Officer
Opened1996
Casino Venue LicenceRuns until 2048*
Facilities• Casino
• Hotels
• Food and beverage
• Entertainment
• Conventions
• esports broadcasting
studio
• Out-catering
• Car parking
• Sky Tower
• Theatre
• Telecommunications and
broadcasting facilities
Licensed Gaming Product• 1,877 electronic gaming machines
• 150 table games
• 240 automated table games
Workforce~3,500 staff
FY19 Revenue $567.9 million (reported)
$606.7 million (normalised)
*The casino venue licence can be renewed for a further period of 15 years pursuant to sections 134–138 of the New Zealand Gambling Act 2003.
Located in the heart of Auckland’s CBD,
SkyCity Auckland is the flagship property
of the SkyCity Entertainment Group and
features a casino, two award-winning hotels –
the SkyCity Grand Hotel and SkyCity Hotel, over
20 bars and restaurants, a convention centre,
a 700-seat theatre and the iconic Sky Tower.
Opened in 1997, the 328-metre tall Sky Tower
has been an icon of Auckland’s skyline for over
20 years and attracts over 500,000 visitors
each year. As the tallest free-standing structure
in the Southern Hemisphere, visitors can enjoy
breathtaking views right across Auckland
from the Sky Tower’s two observation decks
or while dining in one of three restaurants
in the Sky Tower, including Auckland’s only
360-degree revolving restaurant. At the very top
of the Sky Tower, a 93-metre communications
mast accommodating VHF, UHF, AM and FM
broadcasting and telecommunications antennas
provides telecommunications and broadcasting
facilities to the telecommunications industry.
The Sky Tower is also home to New Zealand's
only esports broadcasting studio.
SkyCity is currently investing more than
$700 million within the SkyCity Auckland precinct
with the development of the New Zealand
International Convention Centre, an adjacent
laneway, over 1,300 additional car parking spaces
and the new 300-room, 5-star Horizon Hotel
– all due for completion in 2020.
GENERAL
27
About SkyCity

The New Zealand International Convention Centre
will be New Zealand’s premier convention centre
enabling New Zealand to attract major international
conferences as well as having capability for
sporting events, theatre and musical performances.
The centre is designed to be a welcoming, open
building complemented by a fresh new streetscape
for local, national and international visitors alike
to enjoy.
Two of the largest pieces of public art ever created
in New Zealand, commissioned by SkyCity from
New Zealand artists Sara Hughes and Peata
Larkin, will adorn the exterior of the New Zealand
International Convention Centre and span a total
of 5,760sqm.
The 5-star Horizon Hotel will bring 300 new
high-end rooms to the Auckland CBD and will
be uniquely connected via an air bridge over
Hobson Street to three city centre blocks across
the New Zealand International Convention Centre
and SkyCity Auckland’s entertainment precinct.
It will also be located directly above a new retail
and dining laneway that will connect Nelson and
Hobson Streets, and adjacent to Federal Street’s
award-winning restaurants and bars.
With a pipeline of events coming to Auckland,
including the opening of the New Zealand
International Convention Centre, Horizon Hotel
is well positioned to play an important role in
supporting the City’s growth.
The design of the hotel emanated from the
opportunity to expand the horizons of the site by
curving the building to maximise the views from
all guest rooms – resulting in the extraordinary
curved glass façades of the hotel that feature 300
glass fins that capture the clear marine light of
the Auckland isthmus. The interior continues this
theme with grand public spaces featuring natural
stones, marbles and timbers, with the horizon-like
curves of the guest room environments creating a
unique and special experience.
Over the last financial year, we have continued to
progress our master plan for the SkyCity Auckland
complex with ongoing concept development
and feasibility analysis to explore opportunities
for further accommodation, food and beverage,
new gaming spaces and entertainment offerings.
Our vision is for SkyCity Auckland to be a
customer-centred destination with an ecosystem
of mutually beneficial places – buildings,
experiences and public spaces.
As part of this broader master planning programme,
SkyCity has acquired over $100 million of property
around the SkyCity Auckland precinct over the last
two years – with the SkyCity Auckland footprint
now spanning the majority of three blocks in the
Auckland CBD (~3.5 hectares) with ~295,000sqm
of gross floor area.
FY19 PERFORMANCE
SkyCity Auckland achieved robust normalised
EBITDA growth in FY19 – up 2.8% to
$267.9 million despite a more challenging
operating environment, a strong comparative in
2H19 and ongoing disruption in the Auckland CBD
from various development projects.
Gaming revenue was up 4.9%, with the standout
feature being strong growth in our electronic
gaming machines of 7.4% due to investment
in product mix and configuration and better
marketing and positive changes to our
smoking decks.
Non-gaming revenue was flat year-on-year
with improved performances in food and
beverage offset by weaker hotel revenue per
available room (RevPar) as new hotel supply
came into the Auckland market ahead of
major tourism, commercial and entertainment
developments which have been delayed (eg. the
New Zealand International Convention Centre and
Commercial Bay).
Margins in Auckland were stable on a like-for-like
basis despite increased cost pressures, such as
the implementation of a new Auckland-wide
hotel 'bed tax' and our ongoing transition to a $20
minimum wage for New Zealand staff by 2020.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

2,700sqm
of meeting space – configurable for up to 33 meeting
spaces at any one time with additional pre-function
spaces in the adjacent laneway
2,850-seat theatre
divisible into two 1,200-seat theatres, with retractable seating and flat floor options
6,674sqm
of divisible hall space suitable for theatre, exhibition
or one-off events for up to 4,000 people
32,500sqm
gross floor area
NEW ZEALAND INTERNATIONAL CONVENTION CENTRE
The New Zealand International Convention Centre will operate as a carbon neutral venue following
completion of construction – the only one of its kind in the Asia Pacific region.
GENERAL
29
About SkyCity

Huami was awarded the Wine Spectator Best of Award of Excellence for 2019
for the second year in a row (July 2019)
Depot named Best Casual Dining Restaurant in 2018 Cuisine Good Food Awards
(October 2018)
East Day Spa, located in the SkyCity Grand Hotel, wins New Zealand’s Best Hotel Spa
at the World Spa Awards 2018 (October 2018)
Sky Tower achieves Qualmark Gold Award – a Gold Award recognises the best
sustainable tourism businesses in New Zealand and identifies businesses
leading the way in making the New Zealand tourism industry a world-class
sustainable visitor destination (December 2018)
MASU by Nic Watt, Depot and Gusto at the Grand named in Metro Magazine’s
2019 Top 50 Restaurants (April 2019)
SkyCity Hotel, SkyCity Grand Hotel and the Sky Tower awarded a Trip Advisor
Certificate of Excellence for 2019 (May 2019)
SkyCity Hotel and SkyCity Grand Hotel awarded Trip Advisor’s 2019 Travellers’
Choice Award (May 2019)
Huami named in Metro Magazine’s 2019 Top 50 Bars (April 2019)
The Sugar Club and The Grill by Sean Connolly were each awarded two hats,
and Depot, Gusto at the Grand and MASU by Nic Watt retained one hat, in the
2018 Cuisine Good Food Awards (October 2018)
ACHIEVEMENTS
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

Hamilton
PropertySkyCity Hamilton, New Zealand
General Manager
Michelle Baillie
Opened2002
Increased ownership from 70% to 100% in 2005
Casino Venue LicenceRuns until 2027*
Facilities• Casino
• Food and beverage
• Entertainment
• Conventions
• Car parking
• Tenpin bowling
Licensed Gaming Product• 339 electronic gaming machines
• 23 table games
Workforce~400 staff
FY19 Revenue$54.8 million (reported)
$61.8 million (normalised)
*The casino venue licence can be renewed for a further period of 15 years pursuant to sections 134–138 of the New Zealand Gambling Act 2003.
Situated within Hamilton’s historic Chief
Post Office, in a building designed to maximise
a superb riverside location on the banks of the
Waikato River, SkyCity Hamilton features a casino,
eight bars and restaurants, a conference centre
and Hamilton’s only tenpin bowling alley.
The SkyCity Hamilton business has been on a
transformational journey over the last few years
with the opening of a new food and beverage
development in 2015, the addition of a modern
tenpin bowling alley, Bowl and Social, in 2016
and the addition of X-Golf, a virtual golf simulator,
and new café in 2019.
Over the last financial year, we have progressed
our master plan for the SkyCity Hamilton complex
to explore further opportunities to leverage the
property’s riverbank location, including a potential
hotel development and additional food and
beverage and entertainment offerings.
We have also continued to explore opportunities
to optimise the product mix at SkyCity Hamilton
in response to customer demand for electronic
gaming machines (which are capacity
constrained over weekends) in preference
to tables, which are underutilised. The hotel
feasibility also relies on hosting out of town
gaming customers over the weekend, so the
extra gaming machine product is necessary
to satisfy this potential increase in demand.
In this regard, during the year, we applied
to the New Zealand Gambling Commission
to deploy 60 additional gaming machines
at SkyCity Hamilton in substitution of three
existing Blackjack table games.
FY19 PERFORMANCE
SkyCity Hamilton achieved EBITDA of $26.9 million
consistent with a record prior period with solid
electronic gaming machine performance and
improved contribution from food and beverage.
Hamilton remains capacity constrained, with
insufficient electronic gaming machines
during peak periods limiting our ability to
sustain the above-trend growth achieved over
previous periods.
GENERAL
31
About SkyCity

Adelaide
PropertyAdelaide Casino, Australia
General Manager
David Christian
Acquired2000
Licensing Agreement Runs until 2085*
Facilities• Casino
• Food and beverage
• Entertainment
Licensed Gaming Product• 828 electronic gaming machines (allowance for 1,500)
• 82 table games (allowance for 200)
• 67 automated table games
Workforce~1,000 staff
FY19 RevenueA$137.1 million (reported)
A$148.7 million (normalised)
* The Approved Licensing Agreement between the Minister for Business Services and Consumers and SkyCity Adelaide Pty Limited provides
Adelaide Casino with exclusive rights to provide casino gaming (except for interactive gambling) in South Australia until 30 June 2035.
Located in the historic Railway Station building on
the banks of the River Torrens, Adelaide Casino is
South Australia’s only casino destination.
SkyCity is currently investing A$330 million to
transform the Adelaide Casino into a world-class
integrated entertainment hub on the Festival
Plaza forecourt adjacent to the Torrens River that
will include a new luxury hotel, wellness centre
with a day spa, pool, sauna and gym, new VIP
gaming facilities, three new bars and three
additional signature restaurants – all due for
completion in 2020. SkyCity has an agreement
with developer Walker Corporation to lease
750 car parks in an adjacent car park which is
expected to be opened contemporaneous with
the expansion in 2020.
The current Adelaide Casino, housed in the iconic
Adelaide Railway Station, is also being revitalised
and restored to improve the layout and experience
for customers with a three-storey glass atrium
connecting the heritage and new buildings.
After being overlooked for more than a decade,
SkyCity is transforming the former Overland
Dining Hall in the Railway Station building
through a A$6 million restoration into a new,
all-hours bar and dining hall, The Guardsman,
which is due to open later this year. The new
venue pays homage to the Railway Station’s rich
heritage and will feature a grand central bar,
open kitchen and a coffee front.
The South Australian Government’s broader
review of gambling regulation in South Australia is
expected to be completed soon. SkyCity remains
optimistic about the introduction of ticket-in
ticket-out (TITO) technology on its main casino
floor and the use of note acceptors.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

FY19 PERFORMANCE
David Christian commenced as General
Manager, Adelaide Casino, during 2H19 bringing
considerable operational experience to the role
and an expertise in delivering and opening new
mixed-use casino developments.
Adelaide Casino’s EBITDA was up slightly on a
like-for-like basis (after adjusting for A$1.7 million
of staff restructuring costs incurred during
1H19) despite the disruption caused by building
works around the property (including SkyCity’s
A$330 million expansion project).
will become available when construction is complete, taking the total number of employees to ~2,000
~1,000 jobs
created during construction from 2018–2020
A$330 million
800 ongoing positions
Investment of
An additional
ADELAIDE CASINO EXPANSION
GENERAL
33
About SkyCity

Queenstown
PropertySkyCity Queenstown and SkyCity Wharf, New Zealand
General Manager
Jono Browne
Opened/AcquiredOpened Queenstown in 2000 and increased ownership
from 60% to 100% in 2012
Acquired Wharf in 2013
Casino Venue Licence Runs until 2025* for Queenstown
Runs until 2024* for Wharf
Facilities• Casino
• Food and beverage
• Entertainment
• Conventions
Licensed Gaming Product• 86 electronic gaming machines (Queenstown)
• 12 table games (Queenstown)
• 74 electronic gaming machines (Wharf)
• 6 table games (Wharf)
Workforce~100 staff
FY19 Revenue$11.6 million (reported)
$13.1 million (normalised)
*The casino venue licence can be renewed for a further period of 15 years pursuant to sections 134–138 of the New Zealand Gambling Act 2003.
SkyCity’s two Queenstown casinos,
SkyCity Queenstown and SkyCity Wharf,
are located in central Queenstown, surrounded
by the majestic Southern Alps.
As Queenstown is an attractive destination for
SkyCity’s International Business customers,
SkyCity continues to explore options to create an
improved VIP/premium facility in Queenstown.
In June 2019, SkyCity purchased land on the
shores of Lake Wakatipu in Queenstown, which
the company intends to use to develop a 5-star
hotel to complement its existing entertainment
facilities in Queenstown and further attract
international visitors to Queenstown.
Plans for the hotel development are being
finalised and the regulatory framework to achieve
the proposed development will be investigated in
the year ahead.
FY19 PERFORMANCE
Our combined Queenstown properties grew
earnings by 12.5% to $2.3 million driven by
increased visits from premium customers and
operating leverage, albeit with a weaker 2H19 due
to the later start to the winter season.
International Business turnover at Queenstown
was up 47.2% highlighting the attractiveness
of the location for premium/VIP customers
and reinforcing our strategy to develop a new
luxury hotel and International Business salons in
that destination.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

International Business
General Manager
Stewart Neish
Group General Manager – International Business
FacilitiesPremium gaming facilities at SkyCity Auckland,
SkyCity Adelaide and SkyCity Queenstown
FY19 Revenue$42.3 million (reported)
$190.5 million (normalised)
SkyCity’s International Business division caters for
high-net worth international players and junkets
who visit casinos as part of their leisure activities.
The flagship SkyCity Auckland property features
several premium gaming spaces, including the
‘Grand Horizon’ VIP gaming salons opened in 2016
in the SkyCity Grand Hotel and 1,800 sqm of luxury
high-end gaming space opened in 2011 above the
SkyCity Hotel.
Located above the SkyCity Hotel, the ‘Horizon
Suites’ feature four luxurious hotel suites for
exclusive use, three of which have adjoining
private accommodation. Each suite features
a private gaming salon and each salon has its
own private dining facilities, bar and massage
chairs, as well as its own lounge area and outdoor
balcony. Gaming dealers are available on request
for customers, who enjoy the full range of gaming
options offered at SkyCity Auckland in their own
private salon.
As part of the A$330 million Adelaide Casino
expansion project, SkyCity is constructing
additional VIP luxury gaming facilities to
complement the existing ‘Horizon’ premium
gaming salon opened in Adelaide in 2015.
There remains potential for further growth in
International Business over the medium to
long term due primarily to the attractiveness
of New Zealand as a tourist destination and
good connectivity. SkyCity intends to continue
to invest prudently in International Business to
enhance sustainable shareholder returns.
The bulk of SkyCity's business is stable and low
risk, originating from local/domestic players.
The International Business provides incremental
growth, but due to its inherent volatility, is likely to
be maintained as a relatively small, but important,
contributor to overall Group profit.
FY19 PERFORMANCE
SkyCity’s International Business division delivered
turnover of $14.1 billion up 18.9%, with normalised
EBITDA of $41.7 million and reported EBITDA
of $3.0 million due to a low casino win rate of
1.00%. The casino win rate, whilst improved in
2H19 vs 1H19, was still below the theoretical of
1.35%. It is probable that the strong turnover
achieved across the year was aided, in part, by our
customers’ luck and hence greater frequency of
bet turns (turnover).
The result in International Business was
driven by a number of factors, including
higher average spend per customer. We also
significantly improved the quality of our sales and
marketing teams. Consistent with the prior period,
the International Business experienced very few
bad debts and continues to have a conservative
approach to credit.
GENERAL
35
About SkyCity

Protecting
the value of
our business
Delivering strong and sustainable
earnings across the SkyCity Group.

SkyCity operates in a dynamic and challenging environment with risks and
opportunities both locally and internationally.
The SkyCity Board is ultimately responsible for
the governance of the Group’s risk management,
which includes formulating the Group’s risk
appetite and setting and monitoring risk tolerance.
The company maintains a risk management
framework for the identification, assessment,
monitoring and management of risk to
the company’s business. As part of this
framework, SkyCity maintains an independent,
centrally-managed Group Risk function which
evaluates and reports on risks and controls across
the Group. The Group Risk team collates, assesses
and monitors the risks the Group faces by way
of a Top Risk Profile, which is updated regularly.
The Top Risk Profile is a current view of the most
significant emerging, or potential risks facing
the Group, as well as a summary of how those
risks are being mitigated or prepared for, and is
a critical input to strategic planning, insurance
renewal, investment and resource prioritisation,
and assurance planning.
Management reports to the Audit and
Risk Committee and SkyCity Board on the
effectiveness of the company’s management
of its material business risks at least annually.
SkyCity’s ability to create and preserve value for its
shareholders requires the successful execution of
its business strategy. Risks influencing its ability
to do this, including SkyCity’s material exposure to
economic, environmental and social sustainability
risks, if any, and how it manages or intends to
manage those risks, are outlined below.
Our Risk Profile and Management
Material ExposureManaging Risk
Highly Regulated Industry
SkyCity operates in the casino industry,
which is highly regulated. The regulatory
framework is subject to change from
time to time, which may impact the
environment in which SkyCity operates
and the costs of operating its business.
Potential examples of such changes
include unfavourable changes to
gaming and/or smoking legislation
and regulations, licence conditions
and gaming taxes and levies.
The risk of regulatory change is mitigated by maintaining
frequent engagement with the governments and
regulators in each jurisdiction in which SkyCity operates
and with industry stakeholders.
Targeted initiatives are undertaken as and when required
based on the likelihood of the risk occurring and the
impact it would have on SkyCity’s business.
Loss of Casino Licence
SkyCity’s Auckland property contributes
a significant portion of SkyCity’s EBITDA.
This concentration of earnings means
that the performance of SkyCity is heavily
dependent upon the Auckland property.
A significant disruption to SkyCity’s
Auckland operations, which may arise
through the suspension, cancellation or
expiry of the Auckland casino licence,
would have a significant negative impact
on SkyCity.
The suspension, cancellation or expiry of
any of SkyCity’s other casino licences would
also have a negative impact on SkyCity.
SkyCity has mitigated this risk by securing an extension
of the Auckland casino licence to 30 June 2048.
The Adelaide casino licence currently runs until
30 June 2085 and extensions to the Hamilton and
Queenstown casino licences are intended to be sought
in accordance with the renewal provisions of the
Gambling Act 2003 (New Zealand) in due course.
In addition, SkyCity mitigates the risk by maintaining
a robust compliance culture and framework to ensure
compliance with licence conditions and gaming
legislation and regulations, and maintaining engagement
with the governments and regulators, in each jurisdiction
in which SkyCity operates.
GENERAL
37

Material ExposureManaging Risk
Economic and Business Volatility
The general economic conditions in
the markets that SkyCity operates
in, in addition to volatility in certain
parts of the business, can significantly
influence the financial performance of
the company.
To mitigate these risks, SkyCity continually monitors its
external environment, including the geo-political and
global economic landscape, and has a robust liquidity
management framework.
SkyCity also continually reviews the optimal mix for its
business activities to ensure it has a balanced portfolio
reflecting its risk appetite.
Customer and Innovation Risk
SkyCity recognises that it is important
to consider evolving customer
demographics and preferences in both
its gaming and non-gaming operations,
including new offerings, technologies
and innovation.
To ensure SkyCity remains relevant to its customers, key
strategic projects are currently being progressed, with a
focus on emerging industry trends and opportunities for
leveraging new technology and demographic changes.
Online delivery of goods and services is increasingly the
norm across many industries and SkyCity’s business is no
exception. SkyCity has therefore, over the last financial
year, been developing an online gaming strategy as a
logical extension of its land-based casino operations.
In May 2019, SkyCity announced its plans to launch an
offshore online gaming business via a Maltese subsidiary
company and, subsequently, launched its new offshore
SkyCity casino gambling site in August 2019.
In 2018, SkyCity acquired a 40% interest in Let’s Play Live
Media Limited, New Zealand’s leading broadcaster
and operator of esports, and in conjunction with them
launched Australasia’s first esports studio in the Sky Tower.
In July 2019, SkyCity acquired a further 60% and took full
ownership of Let’s Play Live Media Limited.
New forms of entertainment are also set to open at
SkyCity Auckland in early 2020, including:
• the All Blacks Experience, a joint venture between
New Zealand Rugby and Ngāi Tahu Tourism, which
will provide visitors with a state-of-the-art, interactive
experience that will showcase the All Blacks. Through
the use of innovation and technology, it will provide a
full sensory, interactive, and immersive experience for all
New Zealanders and visitors to celebrate New Zealand’s
rugby heritage, achievements and culture – bringing
together the stories of our rugby legends, the drama
and excitement of test match rugby, and the mastery
and legacy of the All Blacks; and
• Academy Award-winning design and effects company
Weta Workshop is developing an immersive attraction
to complement its behind-the-scenes tours at their
Miramar headquarters in Wellington.
Master planning also continues to be progressed for each
of the SkyCity sites to explore opportunities for further
accommodation, food and beverage, new gaming spaces
and entertainment offerings.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

Material ExposureManaging Risk
Technology Risk
Technology represents a critical platform
to SkyCity’s business – not only for
facilitating/enabling its operations,
but also mitigating cyber-threats and
ensuring compliance with regulatory
and licence requirements.
To mitigate technology risk, SkyCity has invested in a
significant programme over recent years to improve
technology systems, infrastructure, capability and
data management, and to improve cyber-resilience.
SkyCity continues to invest in these areas as required.
In addition, there is also significant focus on technology
project governance, risk management and assurance.
Development and Project Risk
With two significant growth projects
underway, the New Zealand International
Convention Centre and Horizon Hotel
development in Auckland and the
Adelaide Casino expansion project, as
well as master planning across the Group,
SkyCity recognises that robust project
management is critical to successful
delivery of these projects.
SkyCity has established strong governance and
oversight frameworks for both current and future
major growth projects, including the establishment
of a dedicated Board sub-committee to oversee the
New Zealand International Convention Centre and
Horizon Hotel development and a separate dedicated
Board sub-committee to oversee the Adelaide Casino
expansion project.
SkyCity also ensures robust governance over capital
allocation and shareholder returns.
Peter Alexander was appointed SkyCity's Chief Property
Officer in January 2019 and is responsible for the Group's
property investment and development activities in
New Zealand and Australia. He has more than 30 years'
experience in investment management, primarily in
property investment and development, in New Zealand
and overseas.
Health and Safety Risk
SkyCity has Health and Safety Risk
Registers in place that identify
risks into two key categories – high
consequence/low frequency (being
critical risks) and low consequence/high
frequency risks.
Due to the hospitality and retail focus of
SkyCity’s business, a high percentage of
the company’s health and safety risk falls
into the low consequence/high frequency
category, which includes risks such as
slips/trips and cuts from manual tasks.
To mitigate critical risks (which include working at
heights, confined spaces, electrical, moving plant,
fire and explosion), SkyCity has in place extensive safe
systems of work to effectively control the potential for
an incident. Ongoing safety assurance activities seek to
test these controls and, where appropriate, strengthen
critical risk controls ensuring SkyCity keeps its people and
visitors safe.
SkyCity has harm prevention programmes in place which
are aimed at reducing minor injuries and promoting
wellness amongst SkyCity’s employees and contractors.
SkyCity’s New Zealand properties are tertiary accredited
under the Accident Compensation Corporation (ACC)
Accredited Employers Programme and its Adelaide site is a
registered self-insured employer. The company undertakes
assurance activities to maintain certifications and
continually improve its health and safety performance.
GENERAL
39
Our Risk Profile and Management

Keeping us
on track
with sound
governance
and strong
leadership

Our Board
ROB CAMPBELL
Chair
Member of the Audit and Risk Committee
Member of the People and Culture Committee
Member of the Sustainability Committee
Chair of the Governance and
Nominations Committee
Appointed a director of SkyCity in June 2017
and Chair of the SkyCity Board in January 2018
Rob is currently the Chair of Summerset Group
Holdings Limited, Tourism Holdings Limited and
WEL Networks Limited and a director of Precinct
Properties New Zealand Limited and Ultrafast
Fibre Limited. Rob has over 30 years’ experience
in capital markets and is a director of or advisor
to a range of investment fund and private equity
groups in New Zealand, Australia, Hong Kong and
the United States of America.
Rob holds a Bachelor of Arts with First Class
Honours in Economic History and Political Science
and a Masters of Philosophy in Economics.
BRUCE CARTER
Deputy Chair
Chair of the Audit and Risk Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity in October 2010
Based in Adelaide, Australia, Bruce is currently
Chair of ASC Pty Limited (Australian Submarine
Corporation) and Aventus Capital Limited
and a director of Bank of Queensland Limited
and Genesee and Wyoming Inc (US) as
well as a number of private companies and
government bodies.
Bruce was one of the founding partners of
Ferrier Hodgson in Adelaide. He was formerly
a partner at Ernst & Young and has more than
30 years’ experience in corporate restructuring
and insolvency.
Bruce is a Fellow of Chartered Accountants
Australia and New Zealand.
GENERAL
41

SUE SUCKLING
Director
Chair of the Sustainability Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity in May 2011
Sue Suckling is an independent director and
consultant with over 25 years in commercial
corporate governance. She is recognised for her
leadership in the technology innovation space
and her deep governance experience.
Sue is currently the Chair of the Insurance
& Financial Services Ombudsman Scheme
Commission, Jacobsen Holdings Limited,
Blinc Innovation Limited, Brannigans Consulting
Limited and Jade Software Corporation Limited.
Previous governance roles include chairing
NIWA, the New Zealand Qualifications Authority
and AgriQuality Limited, and as a director of
Restaurant Brands Limited, Westpac Investments
Limited and the New Zealand Dairy Board.
She holds an OBE for her contribution to
New Zealand business.
Sue is a Chartered Fellow of the New Zealand
Institute of Directors and a Companion of the
Royal Society of New Zealand.
RICHARD DIDSBURY
Director
Member of the Sustainability Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity in July 2012
Richard Didsbury graduated as an Engineer
from Auckland University and has enjoyed a
distinguished career in property investment
and development.
Richard founded, and is currently a director
of, Kiwi Property Group Limited, which is now
the largest property vehicle listed on the NZX.
He is Chair of NX2 (the private sector consortium
involved in the Puhoi to Warkworth motorway
project, a Private Public Partnership). He is
well known for his work as a past president
of the Property Council of New Zealand
and was previously Chair of Committee for
Auckland Limited. His previous governance
roles include being a director of Infrastructure
Auckland and Tourism Auckland.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

JENNIFER OWEN
Director
Member of the Audit and Risk Committee
Member of the People and Culture Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity in December 2016
Jennifer Owen is a Principal of Owen Gaming
Research, an independent research firm
specialising in the gaming and wagering markets.
She has more than 30 years’ experience in the
areas of accountancy, audit, finance, treasury
and equities research.
Jennifer has specific specialist knowledge of
the New Zealand and Australian gaming and
entertainment sectors through her roles as
Director of Equities Research at Citigroup Global
Markets, with a specialist focus on the Australasian
gaming sector, and as Equities Research Analyst at
Macquarie Group focussing on the tourism/leisure
sector. She has been engaged in research, analysis,
and more recently, consulting in the sector since
1996, and has a wide network within the gaming
industry and a strong understanding of industry
and investor issues. Her previous governance roles
include serving on the Board of Racing NSW and
the Investment Committee of the Salvation Army.
Jennifer holds a Bachelor of Business from the
Queensland Institute of Technology and a Masters
in Business Administration from the University
of Queensland, is a graduate of the Australian
Institute of Company Directors’ Diploma course
and is a member of Chartered Accountants
Australia and New Zealand.
MURRAY JORDAN
Director
Chair of the People and Culture Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity in December 2016
Murray Jordan is currently a director of Chorus
Limited and Metcash Limited, an ASX listed
wholesale distributor specialising in food,
grocery and hardware based in Australia, a
director of Stevenson Group Limited, a family
owned New Zealand business specialising in
building products and quarrying, and a trustee
of the Starship Foundation, Foodstuffs’ Members
Protection Trust and The Foodstuffs Co-operative
Perpetuation Trust.
Prior to embarking on a governance career in
2015, he held various senior management roles at
Foodstuffs Limited from 2004 to 2015, including
Managing Director of Foodstuffs North Island and
Managing Director and General Manager Retail,
Sales and Performance of Foodstuffs Auckland
Limited. In 2013, he led the merger of the
Auckland and Wellington businesses of Foodstuffs
to create what is now known as Foodstuffs
North Island and established and oversaw the
integration programme.
His early career was in the property sector,
including as General Manager of Telecom NZ’s
property business and General Manager of
AMP Capital Investors NZ Limited’s property
portfolio. Murray has a Masters degree in Property
Administration from the University of Auckland.
GENERAL
43
Our Board

Our Senior Leadership Team
GRAEME STEPHENS
Chief Executive Officer
Graeme joined SkyCity as Chief Executive Officer
in May 2017, bringing with him significant
expertise in the gaming, hospitality, and
leisure industries.
Prior to joining SkyCity, Graeme was Chief
Executive Officer of Sun International, a casino,
resorts and entertainment company listed on
the Johannesburg Stock Exchange. Under his
leadership, the company rebalanced its portfolio,
diversified into growth areas in both South Africa
and Latin America, redeveloped its flagship
resort in Sun City and built a new casino resort
near Pretoria.
An accountant by profession and with more than
10 years’ experience in banking and corporate
finance, Graeme was appointed Senior Vice
President of New Business Development at
Kerzner International in 2003 and was responsible
for a number of global hospitality projects before
joining Sun International in 2011.
From left to right:
Glen McLatchie, Michael Ahearne, Liza McNally, Graeme Stephens, Claire Walker,
Peter Alexander, Simon Jamieson, Rob Hamilton and Jo Wong
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

ROB HAMILTON
Chief Financial Officer
Rob joined SkyCity as Chief Financial Officer in
October 2014 and is responsible for the financial
management of SkyCity, including reporting,
treasury, risk management and corporate
development. He also oversees SkyCity’s
International Business and Information and
Communications Technology function and
helps to drive the strategic direction of the
SkyCity Group.
Rob is a respected member of the finance
community with more than 20 years’ experience
at First NZ Capital, where he led the investment
banking team. He is currently a non-executive
director of Tourism Holdings Limited.
Rob holds Bachelor degrees in Commerce and
Science and is on the Board of Trustees for
Auckland Grammar School.
MICHAEL AHEARNE
Chief Operating Officer
Michael joined SkyCity in December 2017
as Group Chief Operating Officer and is responsible
for overseeing the operations and driving value
across SkyCity’s five properties in New Zealand
and Australia.
Prior to SkyCity, Michael held a number of senior
operational and product leadership roles at
Paddy Power Betfair, one of the world’s leaders in
sports betting and gaming. Prior to this, Michael
enjoyed a 13-year career in the Australasian
gaming and entertainment sector – ten years
of which were spent at The Star Casino, Sydney,
where he held a variety of senior management
positions and, following that, three years as Chief
Operating Officer for Aristocrat in the Australia
and New Zealand regions.
Michael is a qualified accountant and holds an
MBA from the University of Technology, Sydney.
GENERAL
45
Our Senior Leadership Team

CLAIRE WALKER
Chief People and Culture Officer
Claire was appointed General Manager
Human Resources in August 2016 and
Chief People and Culture Officer in April 2019.
She is responsible for leading the development
and implementation of best practice human
resource strategy across SkyCity. She also
has executive responsibility for sustainability
at SkyCity.
Prior to joining SkyCity in 2016, Claire was
Chief People Officer at Sanford Limited where
she established the human resources function
and led the sustainability and integrated reporting
activities for the organisation and, prior to that,
Claire led the human resources and employee
relations function for the SkyCity Auckland
business. Claire has also held senior human
resource roles with Carter Holt Harvey and Downer
after several years working in the education sector.
JO WONG
General Counsel and Company Secretary
Jo joined SkyCity as Senior Legal Counsel in
January 2009 and was subsequently appointed
as Deputy General Counsel before being
appointed as General Counsel and Company
Secretary in September 2016. As General Counsel
and Company Secretary, Jo is responsible for
SkyCity’s legal, company secretarial, regulatory
affairs and anti-money laundering functions.
Jo has more than 20 years’ experience in
both private practice and in-house legal
roles. Before joining SkyCity in 2009, she
held General Counsel and Group Corporate
Counsel roles in the New Zealand financial
services industry and was a Senior Solicitor at
Russell McVeagh, one of the leading law firms
in New Zealand.
Jo is a graduate of the 2017 Global Women
Breakthrough Leaders Programme, is a
member of New Zealand Asian Leaders and
holds a Bachelor of Laws and a Bachelor
of Arts (Criminology and Japanese) from
Victoria University of Wellington.
SIMON JAMIESON
General Manager NZICC
Since joining SkyCity in September 2007, Simon
has held a number of roles, including General
Manager Adelaide Casino, General Manager Hotels
SkyCity Auckland and Acting General Manager
SkyCity Auckland.
As General Manager NZICC, Simon oversees
the development of SkyCity’s New Zealand
International Convention Centre and Horizon Hotel
project in Auckland. He is also responsible for
health and safety at SkyCity.
With more than 30 years’ experience in large-scale
hospitality businesses, Simon brings a wealth of
commercial experience and tourism know-how to
the SkyCity business.
LIZA MCNALLY
Chief Marketing Officer
Liza joined SkyCity in January 2018 as Chief
Marketing Officer, bringing with her over 20 years
of marketing expertise.
Hailing from Australia, Liza’s experience includes
senior positions in both Sydney and Auckland
with a number of senior marketing and sales
positions within media, entertainment and
telecommunications organisations. These include
News Corp Australia, Telecom/Spark New Zealand
and New Zealand Media & Entertainment (NZME)
as well as a period of time running her own
consulting firm.
With her broad marketing background, Liza
brings holistic thinking to our marketing efforts
with particular focus on brand, digital, customer
and loyalty.
Liza is currently a non-executive director of
AFL New Zealand and a trustee of the Auckland
Farmers Santa Parade.
GLEN MCLATCHIE
Chief Information Officer
Glen joined SkyCity in 2016 as Chief Information
Officer and is responsible for lifting the digital
capability of the organisation to be able to
respond to future innovation initiatives and
growth strategies.
Prior to joining SkyCity, Glen was General Manager
ICT with Meridian Energy where he transformed
and modernised their aging technology
footprint and digital capability. He has 25 years
of technology experience from across several
industries globally, having worked in and out of
the UK, France, USA, Australia, Malaysia, India,
China and the Middle East.
Glen holds a Master of Information Systems from
Swinburne University of Technology, Australia,
and a Bachelor of Business Studies from
Massey University, New Zealand.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

PETER ALEXANDER
Chief Property Officer
Peter joined SkyCity as Chief Property Officer
in January 2019 and is responsible for SkyCity’s
property investment and development activities
in New Zealand and Australia.
Peter has more than 30 years’ experience in
investment management, primarily in property
investment and development, in New Zealand and
overseas. Peter joined SkyCity from alternative
asset manager HRL Morrison & Co where he was
Director Private Equity Real Estate New Zealand.
He was previously Chief Executive Officer of
NZX listed Stride Property Group, a commercial
property investor, developer and investment
manager, and, prior to that, Peter led Auckland
International Airport’s commercial property
investment and development activities.
Peter is currently a trustee of the Dilworth
Trust Board, Chair for Homes of Choice and a
non-executive director of HLC Limited.
General
Manager NZICC
Simon Jamieson
Chief
Information
Officer
Glen McLatchie
Chief
Marketing
Officer
Liza McNally
Chief
Property
Officer
Peter Alexander
BOARD AND SENIOR LEADERSHIP TEAM ORGANISATIONAL CHART
Chief
Financial
Officer
Rob Hamilton
Group
Chief
Operating
Officer
Michael
Ahearne
Chief People
and Culture
Officer
Claire Walker
General
Counsel and
Company
Secretary
Jo Wong
Board
Governance
and
Nominations
Committee
Board Audit
and Risk
Committee
Board
People and
Culture
Committee
Board
Sustainability
Committee
SkyCity
Board
Chief
Executive
Officer
Graeme
Stephens
GENERAL
47
Our Senior Leadership Team

Being a
responsible
corporate
citizen
SkyCity is committed to maintaining
the highest levels of sustainability
objectives and practices, with priority
given to minimising the impacts
associated with problem gambling
as an area of primary focus.

Our Sustainability
At SkyCity, we recognise that sustainability is critical to all levels of our business
and operations. Part of being a responsible business is understanding the
impacts arising from our operations. The aim of this understanding is to enable
positive impacts to be fostered and negative impacts to be at the very least
mitigated and ideally abated. This is particularly true when there is potential for
harm to either people or the environment.
At SkyCity, we need to continually focus on our
social licence to operate – as in the casino industry
we have to try harder than most to justify our
place in society.
Our sustainability initiatives are focussed on
doing good for our communities – our customers,
employees and suppliers. Our objective is to
ensure that our strategic decisions strengthen
the communities we operate in and provide
environments and opportunities for our
customers, suppliers and staff to enjoy, to be
entertained and to be safe.
Setting Our Framework
In 2016, after engaging with both internal and
external stakeholders on which sustainability
issues were most relevant to SkyCity’s business,
SkyCity adopted its first set of sustainability
goals, priority actions and targets and
developed a materiality matrix to identify
a set of priority impact areas and issues for
the business. In 2018, we refined the matrix
and sustainability framework to incorporate
global trends and local market conditions in
our approach to, and assessment of, risks and
opportunities, culminating in a refreshed set of
sustainability pillars.
We continue to focus on embedding these
sustainability pillars into all levels of the
organisation and in the way SkyCity operates.
The material issues have become the focus
for managing SkyCity’s risks and have heavily
influenced our sustainability strategy and
priorities, which underpin our reporting on our
non-financial performance.
Our Sustainability Committee
The Sustainability Committee is a dedicated
Board committee that assists the SkyCity Board
to contribute to SkyCity’s vision and strategic plan
by ensuring that the company’s sustainability
strategy is best practice and supports the highest
level of sustainability objectives, with priority
given to minimising the impacts associated with
problem gambling as an area of primary focus.
The responsibilities of the Committee include
reviewing and recommending to the Board the
sustainability strategy, principles, policies and
practices of the company to ensure alignment
with the company’s strategic objectives and
performance, and reviewing and reporting to the
Board on the company’s impacts associated with
SkyCity’s sustainability pillars.
The guiding principles that underpin SkyCity’s
sustainability activities and the role,
responsibilities, composition, structure and
membership of the Committee are set out in
the Sustainability Committee Charter (available
in the Governance section of the company’s
website at www.skycityentertainmentgroup.com),
which is reviewed and approved by the Board on
an annual basis.
The Board and Committee maintain operational
supervision of SkyCity’s sustainability activities
through clearly defined policy and effective
management. Claire Walker, SkyCity’s Chief People
and Culture Officer, has executive responsibility
for SkyCity’s sustainability activities with key
operational personnel within the business having
day-to-day responsibility for the activities.
Our Pillars
The following pages outline our goals, priorities
and metrics for each of our five sustainability
pillars, outline the activities undertaken to support
our sustainability strategy, and provide a summary
of our achievement against our priorities for the
financial year ended 30 June 2019.
The areas identified as priority issues are those
considered highly material for SkyCity’s business
and for our stakeholders. Our priorities and
metrics set out what we intend to do both in our
business and our communities. They are intended
to challenge the business and staff and provide
a dedicated framework for measuring progress
over the coming years. We are committed to
measuring performance on each goal, through
specific key performance indicators, which will
ensure the business strives to keep pace with
internal and external expectations.
We Welcome Your Feedback
If you have any feedback and questions in relation
to SkyCity’s sustainability framework, please
contact SkyCity at sustainability@skycity.co.nz.
SUSTAINABILITY
49

Sustainability at SkyCity
To be a sustainable business, we must be a responsible business actively protecting
and promoting the people we serve and the planet we share.
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Customers
Customers
Happy, safe
customers
Ensure safe and
enjoyable opportunities
for customers, staff and
our communities
Be responsible hosts
People
Create a great place
to work where people
are empowered to
grow and achieve
Inspire our people
Great, safe place
to work
Suppliers
Commit to the highest
standards of sourcing,
ethically, responsibly
and locally
Source responsibly
Consistent ethical
sourcing
Significantly
lower emissions
Actively reduce waste
and minimise our
environmental impact
Protect the environment
Environment
Thriving local
communities
Serve a social purpose by
investing in local economies
and communities
Grow our communities
Communities
C
o
m
m
u
n
i
t
y

By creating value for others, we create value for SkyCity
Our goals
What we’ll deliver
Our plan
How we’ll deliver it
Our priorities
Impact & importance
Leading and best practice
host responsibility
• Host responsibility programmes and problem gambling indicators such as
preventative customer service encounters and engagement practices
• Benchmarking of SkyCity’s host responsibility programmes against our industry
• Public policy and compliance, including reporting of regulator audit findings
1. Host

responsibly
2. Customer

experience and
engagement
Customer experience

and engagement
• Employee training completion rates
Community knowledge
• Increase in community knowledge and understanding of SkyCity’s harm
minimisation practices
Customers | Be responsible hosts
Ensure safe and enjoyable experiences for our customers, staff and communities
Economic contribution
• Measure and evaluate SkyCity’s economic contribution to the communities

in which we operate, including local procurement spend
1. Community
partnerships

and outcomes
2. Economic
contribution
Building communities by
developing people
• Employment, training and career paths provided for youth
Investing through the
SkyCity Community
Trusts and through
charity partnerships
• Reporting of community outcomes through narrative and case studies
accompanied by quantitative results
Developing deeper
connections with iwi and
indigenous peoples
• Narrative and case studies on partnerships
Community | Grow our communities
Serve a social purpose by investing in our local economies and communities
Ethical and sustainable
sourcing practices
• Procurement supports the objectives of the Ethical Sourcing Strategy and roadmap
• Reporting of adherence, audit results and outcomes
1. Ethical and
sustainable
procurement
Supply chain transparency• Disclosure of risk relating to human rights and forced labour issues in supply chain
Using local suppliers
• Local vs international procurement spend
• Case studies on local (and indigenous) suppliers and tangible community benefits
Suppliers | Source ethically and responsibly
Sourcing ethically, responsibly and locally
Climate change
and emissions
• Emission and emission intensity, including energy efficiency and reduction
• Employee led Green Fund established and operating for FY20
1. Climate change
and emissions
Reducing waste• Reduction of waste and diversion from landfill
Carbon neutral by 2020
• SkyCity New Zealand operations offset for FY19 carbon emissions
• Employee led Green Fund established and operating for FY20
Environment | Conserve the environment
Active commitment to reducing our environmental footprint
Employee engagement,
learning, development
and careers
• Internal promotions, career paths and employment opportunities for youth
1. Employee

engagement
2. Health, safety

and wellbeing
Diversity, inclusion

and belonging
• Diversity and gender reporting, including equality of pay, management and

governance representation
Health, safety and

wellbeing
• Health and Safety engagement activities such as Leadership Safety Walks and
Health and Safety Committee engagement
• Take up of SkyCity subsidised health insurance by employees
• Number of managers trained in SkyCity’s White Ribbon policy
People | Inspire our people
A great place to work where our people are empowered to grow and achieve
SUSTAINABILITY
51
Our Sustainability Pillars

Be responsible
hosts
Ensure safe and enjoyable opportunities
for customers, staff and our communities.

At our core, SkyCity is a provider of casino
entertainment.
The promotion of responsible gaming and safe
consumption of alcohol are topics at the heart of
our business.
Our Customers
Priority Issues
• Leading and best practice
host responsibility
• Customer experience and
engagement
• Community knowledge
FY19 Performance Highlights
• In the 2019 SkyCity Employee Engagement Survey, our staff
rating as a ‘responsible host’ was 88% - an increase of 2% from
the 2017 survey
• Reviewed our Host Responsibility Programmes against a
leading Australian casino operator, which showed we are
well placed in leading host responsibility operations
• Commenced a limited facial recognition technology trial
across the SkyCity Auckland and SkyCity Hamilton sites and
selected a preferred supplier
• Upgraded the predictive algorithm model in place at our
largest and busiest SkyCity Auckland property to enhance and
improve SkyCity’s ability to identify potential at-risk gamblers,
which will be operational in early FY20
• Increased our observation and reporting of potential problem
gambling indicators
• Increased our preventative interactions through our Customer
Service Ambassadors at our Auckland site
• Welcomed problem gambling support providers into the
SkyCity Auckland casino to raise their profile with customers
during Gambling Harm Awareness Week in New Zealand
53

Leading and Best Practice
Host Responsibility
When done responsibly, gambling can be
a fun and enjoyable entertainment activity.
However, it can also have harmful effects on some
individuals, their families and their communities.
Our challenge is therefore to ensure that our
business provides entertaining and profitable,
yet safe and responsible, experiences and
environments for all customers and staff.
SkyCity has a robust Host Responsibility
Programme in place at each of its sites to
prevent and minimise harm from problem
gambling. All SkyCity staff receive training in
problem gambling awareness and we employ a
dedicated team of experienced host responsibility
specialists at all sites. Additionally, at our largest
and busiest Auckland site, a team of Customer
Service Ambassadors is trained to interact with
our customers and report any concerns to our
specialist Host Responsibility team so preventative
action can be taken, where required.
An outline of our commitment to host
responsibility and detailed individual
site-related information can be found at
www.skycityentertainmentgroup.com/
our-commitment/responsible-gambling.
A key focus for SkyCity is to maintain the high
standard of host responsibility best practice
recognised by the New Zealand Department of
Internal Affairs through its ‘mystery shopping’
exercise conducted across all casinos and
120 pubs and clubs (Class 4 venues) around
New Zealand in late 2016. SkyCity’s four casinos in
Auckland, Hamilton and Queenstown came out
top in the exercise with the Department noting
that “the results from SkyCity casinos show what
can be done when more dedicated resource is
directed at minimising harmful gambling within a
culture that puts a clear focus on a high standard
of harm minimisation practice” and that “the
overall results also show that SkyCity casinos have
cultivated a culture of care within their casinos”.
At the date of this annual report, the Department
of Internal Affairs had commenced a further
mystery shopping exercise across all casinos,
and pubs and clubs (Class 4 venues), around
New Zealand and visited SkyCity Auckland as part
of this exercise. We welcome the Department’s
findings in this regard and are committed to
working with the Department to ensure we
maintain a high standard of host responsibility
best practice.
We are immensely proud of the culture of care we
have developed within our casinos and continue
to focus on ways to ensure that this culture of care
is maintained, including through our own regular
internal mystery shopping training exercises.
Through our 2019 employee engagement survey,
our staff rating as a ‘responsible host’ was 88%, an
increase of 2% from our 2017 survey. This pleasing
result recognises the importance we place on
host responsibility throughout every part of
the organisation.
During the past financial year, we also conducted
a review of our Host Responsibility Programmes
against a leading Australian casino operator,
which showed we are well placed in leading host
responsibility operations across the SkyCity Group.
However, in a dynamic casino environment,
maintaining effectiveness, relevancy and
consistency in harm minimisation best practice
is an ongoing challenge. In response to that
challenge, SkyCity continues to explore available
technology solutions, seek expert advice, consult
stakeholder groups and source a range of
research material.
88%
of our staff rated SkyCity as a responsible host
in our 2019 employee engagement survey
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

Harnessing New Technologies
In late 2018, SkyCity commenced a limited
facial recognition technology trial across the
SkyCity Auckland and SkyCity Hamilton sites.
This technology will assist SkyCity to recognise
customers who have been excluded from
re-entering SkyCity’s New Zealand premises
by notifying SkyCity personnel when an
individual matching an image from SkyCity’s
database of excluded patrons re-enters a
SkyCity gambling area. This will significantly
bolster SkyCity’s ongoing efforts to detect and
prevent excluded customers from re-entering its
New Zealand casinos.
In June 2019, after trialling different available
technology solutions, a preferred supplier was
selected. SkyCity’s intention is to now implement
a full facial recognition technology solution at
SkyCity Auckland, SkyCity Hamilton and the main
SkyCity Queenstown site by the end of 2019.
Whilst there is no guarantee that this technology
will be effective in each and every case
(for example, where a customer actively tries to
avoid detection), this technology significantly
bolsters SkyCity’s ongoing efforts to deter, detect
and prevent excluded customers from re-entering
the SkyCity Auckland casino.
Additionally, since 2014, SkyCity has operated
a predictive algorithm risk model created by
Focal Research at SkyCity Auckland, which
analyses loyalty data as a tool to identify players
who may be at risk from gambling harm. The
algorithm was upgraded in May 2019 to enhance
and improve SkyCity’s ability to identify potential
at-risk gamblers. The algorithm will be operational
in early FY20.
Consistency of Responsible Gaming Culture
and Practice
The alignment of excellent host responsibility and
harm minimisation practice and culture across
the SkyCity Group remains challenging due to
differences from site to site, such as size, scale
and staffing structure. There are also market and
customer differences that impact our approach to
staff training and programme design, in addition
to unique cultural distinctions to consider.
Furthermore, our sites across New Zealand and
in South Australia each have different regulatory
environments in which to operate.
These differences mean that while SkyCity’s
Host Responsibility Programmes have similarities,
they are often carried out quite differently.
However, problem gambling is an addiction and
the possibility of harm from this type of behaviour
manifests itself the same regardless of jurisdiction
or location. That is why SkyCity endeavours to lead
in this area and employ best practice prevention
methods across the business. A key strategic
focus across the SkyCity Group for minimising
gambling harm is prevention. Robust prevention
initiatives can be developed and implemented
across the Group with few or no regulatory or local
procedural constraints. By adopting a prevention
approach, we can increase our ability to identify
and respond early to new or emerging concerns
that may lead to problem gambling related issues
for our customers.
We are committed to carrying out regular reviews
of each of our Host Responsibility Programmes to
ensure alignment of our practices across our sites.
We take our responsibilities
to minimise risk and harm
from problem gambling
very seriously
SUSTAINABILITY
55
Our Customers

Customer Experience
and Engagement
SkyCity promotes a range of tools in order to
facilitate responsible gambling – however,
exclusion is an equally important host
responsibility offering for those that may be
vulnerable to problem gambling.
Our casinos offer extensive information to
customers about exclusion options and referral
details to problem gambling support services,
including gambling helplines and face-to-face
counselling organisations.
In New Zealand, customers can choose to
exclude themselves from all SkyCity casinos
in New Zealand for a period of up to two years.
In some cases, SkyCity itself makes the decision
to exclude a customer as a means to prevent
risk of harm occurring, or as a means to stop
further harm through a customer’s gambling
at SkyCity’s casinos.
In Adelaide, all exclusions are referred to
Consumer Business Services (the South Australian
Government’s Regulator) who has overall
management of exclusions.
The following graph summarises the number of
exclusions issued by each of the SkyCity properties
over the 2015–2019 financial years.
0
100
200
300
400
500
600
700
800
900
FY15
636
80
23
146
FY16
644
84
37
120
FY17
806
59
29
131
FY18
696
66
25
138
FY19
620
61
44
169
Exclusions at SkyCity Properties FY15 to FY19 (assured)
Auckland
HamiltonQueenstownAdelaide
SkyCity Entertainment Group Annual Report Year Ended 30 June 2019

Over the last financial year, we increased our
observation and reporting of potential problem
gambling indicators, as well as increased our
preventative interactions through our Customer
Service Ambassadors and Gaming teams at our
Auckland site.
Unfortunately, from time to time, some customers
may attempt to re-enter a SkyCity casino with
the intention of gaming in breach of their
exclusion orders.
With the size of our customer base and premises,
it can be a challenge to identify these individuals
immediately. We do all we can to prevent this
from happening – all casino supervisors and
floor security staff are provided with up-to-date
information on customers who have been
excluded, SkyCity keeps photographs of all
excluded customers and we share our database
across our sites so that excluded individuals
cannot enter our other premises.
However, we largely rely on our casino
staff, security and surveillance teams using
photographs to recognise excluded people.
As outlined above, facial recognition technology
will assist SkyCity to recognise excluded people
- however, despite our best efforts and these
processes, some individuals may nonetheless find
ways to elude staff and re-enter a SkyCity casino.
Community Knowledge
Given that the most material issue to all
stakeholders, internal and external, is responsible
gambling, we aim to foster good relationships
with problem gambling stakeholders.
As part of this approach, we provide tours
of our facilities and literature to treatment
providers to assist them in understanding our
gaming environments and Host Responsibility
Programmes. We also partner with local experts
and support agencies to ensure we have the
resources in place for harm minimisation
and prevention.
The objective is to improve information sharing
and collaboration between stakeholders in order
to advance SkyCity’s harm minimisation approach.
This collaborative approach ensures that
knowledge about problem gambling is shared
between SkyCity and the relevant stakeholders,
who will work together to minimise harm.
Throughout the 2019 financial year, we continued
to engage with community stakeholders, both at
their request and through more formal bi-monthly
problem gambling liaison meetings.
In September 2018, during Gambling Harm
Awareness Week in New Zealand, SkyCity
welcomed various problem gambling support
providers, including Mapu Maia, Asian Family
Services, Salvation Army, Problem Gambling
Foundation’s He Kiwi Team, South Seas
Healthcare and Raukura Hauora o Tainui, into
the SkyCity Auckland casino to raise their profile
with customers. Representatives from each of the
providers staffed an information station within the
casino at SkyCity Auckland over Gambling Harm
Awareness Week.
We offer extensive
information to
customers about
exclusion options
and referral details
to problem gambling
support services
SUSTAINABILITY
57
Our Customers

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