CLOSURE OF ADELAIDE – WITHDRAWAL OF FY20 EARNINGS GUIDANCE

MARKET RELEASE
23 March 2020
Closure of Adelaide Casino and Withdrawal of Earnings Guidance
SkyCity Entertainment Group Limited (SKC.NZX/SKC.AX) (“SkyCity”) advises that it will
close its Adelaide Casino by 12.00pm (ACST) today following the Australian Government’s
announcement overnight mandating the immediate closure of all licensed clubs, pubs,
cinemas, casinos, nightclubs and places of worship.
SkyCity CEO Graeme Stephens said “We respect the Australian Government’s decision to
close the Adelaide Casino in order to combat the spread of COVID-19. We are now very
focused on addressing the welfare of our 1,000 employees in Adelaide.” Mr Stephens said
that SkyCity had started consultation with the unions in South Australia and expected to
finalise a plan for its employees over the next week.
The closure requirements do not apply to construction sites. Hence, at this stage, SkyCity
will continue work on its Adelaide expansion project.
In its announcement last week, SkyCity stated that its updated earnings guidance assumed
that all SkyCity properties will remain open for business. Given the closure of Adelaide
Casino and the uncertainty as to the duration of the closure, SkyCity is now withdrawing its
updated earnings guidance for the year ending 30 June 2020 released last week.
SkyCity’s New Zealand properties in Auckland, Hamilton and Queenstown remain open
following the New Zealand Government’s announcement that the COVID-19 Alert Level is
currently at Level 2. However, SkyCity is preparing for the potential closure of its New
Zealand properties should the Government raise the COVID-19 Alert Level. “We are working
through what the implications may be for our 4,000 employees in New Zealand,” said Mr
Stephens.
SkyCity will provide further updates to the market as new material information becomes
available.
ENDS
For more information, please contact:
Media Investors and analysts
Liza McNally
Chief Marketing Officer
DDI: + 64 9 363 7137
Mobile +64 2194 4989
E-mail: liza.mcnally@skycity.co.nz

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