2020 ANNUAL REPORT

Annual Report
Year Ended 30 June 2020

ANNUAL MEETING
Due to the ongoing impacts of COVID-19, the 2020 SkyCity Annual Meeting will be held virtually via
an online platform on 16 October 2020 commencing at 1.00pm (New Zealand time). Instructions and
further details on how shareholders can participate in the virtual Annual Meeting will be included in
the Notice of Meeting.
GENERAL
4 Chair’s Review
6 Chief Executive Officer’s Review
9 About this Annual Report
10 Year in Review
12 Creating Value
16 Performance
18 Diversity Snapshot
21 Group Strategy
29 About SkyCity
31 Auckland
34 Hamilton
37 Adelaide
39 Queenstown
41 International Business
43 Online
45 Risk Profile and Management
53 Our Board
56 Our Senior Leadership Team
SUSTAINABILITY
63 Sustainability
69 Our Customers
79 Our People
93 Our Communities
101 Our Suppliers
111 Our Environment
120 Independent Limited Assurance Statement
CORPORATE GOVERNANCE STATEMENT
AND OTHER DISCLOSURES
123 Corporate Governance Statement
134 Remuneration Report
145 Shareholder and Bondholder Information
148 Directors’ Disclosures
149 Company Disclosures
FINANCIAL STATEMENTS
156 Independent Auditor’s Report
164 Income Statement
165 Statement of Comprehensive Income
166 Balance Sheet
168 Statement of Changes in Equity
169 Statement of Cash Flows
170 Notes to the Financial Statements
224 RECONCILIATION OF NORMALISED RESULTS
TO REPORTED RESULTS
228 GRI CONTENT INDEX
232 GLOSSARY
233 DIRECTORY
Contents
3

Chair’s Review
The 2020 financial year was a tough one for SkyCity
and its stakeholders. The external events which
impacted the year are well known and the financial
performance of the company reflects those events.
It also reflects a great deal of skill, energy and
support from our stakeholders across the board
to react to those events. We have maintained a
strong asset, people, and capital base and barring
further negative external events SkyCity will recover
and grow.
The accounting and financial report on a year with
these shock events is inevitably complex. In this
report, and in our wider commentary on the
business, we endeavour to provide clear information
and guidance to enable investors and other
stakeholders to genuinely understand the past,
current and future of SkyCity.
The key events of the year, though well known to all
readers of this annual report, may be summarised
for the record as:
• the ongoing delay to completion of the
New Zealand International Convention
Centre and Horizon Hotel project was deeply
exacerbated by the fire. The immediate impact
of the fire was effectively managed by our
people, as was the return to operations across
the Auckland site. The reestablishment of work
and a path to completion have also been difficult
tasks with effective progress made;
• COVID-19 halted our business at every location.
Our people have effectively managed operations
during restrictive periods and with greater
operating freedom when pandemic regulations
allowed. But our operations and results across
the Group will continue to reflect a more difficult
environment for some time;
• we have had no option, despite much
appreciated Government support for our people
during the COVID-19 crisis, but to substantively
restructure our business to meet this more
difficult environment;
• in the course of this, we have prudently
restructured our funding, including raising new
equity to manage ongoing commitments and
operating risk;
• the important SkyCity Adelaide expansion
project has moved towards substantive
completion effectively within the planned time
and budget. While this is an impressive facility, its
economic performance will not meet the original
expectations when it was launched in 2018.
Accordingly, we have been required to impair the
investment to reflect a realistic current value; and
• we have successfully launched an online casino
business which is already a good contributor
to the Group financially and provides a good
base for participation in this growing part of the
casino business globally.
Obviously from such a momentous year there are
learnings. For the SkyCity Board, the important
immediate learnings are:
• to recognise the resilience of the core gaming
business in each area where we hold a licence
and to ensure that we maintain our presence,
quality of service, financial control and host
responsibility/harm management processes
at the highest level;
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
4

• the importance of maintaining a strong balance
sheet and operating the business to provide
sustainable returns to investors;
• to keep a strong focus on disciplined capital
allocation and not to make allocations which do
not fully reflect an appropriate return adjusted
for the risks involved; and
• to conduct the business holistically within the
terms of the sustainability framework for SkyCity
which is detailed elsewhere in this annual report.
A few comments on the outlook for the current
financial year, comments which must reflect a high
degree of uncertainty given the global environment:
• SkyCity can operate under current trading
conditions, but at present we do not have
an operating model which can optimise the
business to previous levels without a recovery
in the economy and international tourism,
including our International Business and
convention travel. So, while on our current
outlook we can expect continuity and some
growth, there is something of a holding position
across several aspects of our business; and
• this means that, in this period, the SkyCity Board
and management are fully directed towards
efficient completion of committed projects,
improving the quality and efficiency of operating
our existing facilities, and being well prepared
equally to react to further adverse external events
and to take any genuine opportunities which
arise in the markets where we are present.
I wish to thank my fellow directors for their
assiduous attention to their duties over this difficult
time, our management team for their skill and
commitment in meeting some most unusual
challenges with aplomb, our people working in the
business (including those who have had to leave in
the restructuring) for what they have contributed
to keeping us all going and able to continue with
confidence, and to our external stakeholders for
responding supportively. Finally, to those vital
people who make it all work – our customers in
the casinos in person or online, in our hotels and
meeting rooms, in our restaurants, bars, Sky Tower
and other facilities – our warm appreciation and
ongoing welcome.
Rob Campbell
Chair, SkyCity Entertainment Group
GENERAL
5
Chair's Review

Chief Executive Officer’s Review
The year under review has been extremely complex
and challenging for SkyCity. It commenced with
good momentum with our operations trading at
record levels (at a revenue level) until October 2019,
when a significant fire broke out on the roof of
the New Zealand International Convention Centre
site. Fire and emergency crews battled over several
days to bring the fire under control with the fire
causing significant disruption to the Auckland
CBD, including an unprecedented three-day
closure of the entire SkyCity Auckland precinct.
The SkyCity Board and management team were
still focused on dealing with the impacts of the fire
when the COVID-19 pandemic emerged in early
2020, culminating in the mandated closure of
SkyCity’s properties in New Zealand and Adelaide
on 23 March 2020 following announcements by the
New Zealand and Australian Governments.
We were able to reopen our New Zealand properties
on 14 May 2020 (with the exception of Wharf Casino
in Queenstown which currently remains closed),
albeit initially with reduced operating hours and
subject to restrictions on mass gatherings and
physical distancing requirements. Our Adelaide
property was able to reopen on 29 June 2020
as part of the South Australian Government’s
three-stage approach to easing the COVID-19
restrictions. Then, from 12–30 August 2020,
our Auckland casino and entertainment facilities
were closed again and physical distancing and
hygiene requirements were reinstated at our
Hamilton and Queenstown properties when the
COVID-19 Alert Level increased to Alert Level 3
in Auckland and to Alert Level 2 for the rest of
New Zealand following a new outbreak in the
Auckland community.
An unprecedented number of significant strategic
decisions and actions have had to be taken to
mitigate the impacts of these events:
• significant operational effort has gone into
closing and reopening our properties with
rigorous health and safety measures in place;
• we rapidly restructured our New Zealand
workforce, downsizing it by around 25% to
ensure SkyCity is positioned to be sustainable as
a smaller domestically focused business; and
• we executed a capital raising and debt
restructure to ensure that SkyCity has sufficient
liquidity and funding capacity.
These actions mean that SkyCity is well positioned
to deal with the foreseeable future. We have also
been aided by Government responses in the form
of wage subsidies and other assistance measures.
Our core domestic gaming business is resilient and
has returned to being cash positive and profitable.
The other aspects of our business that are more
reliant on international visitors (including VIP
gaming, hotels and restaurants) will clearly only fully
recover when country borders reopen. Our domestic
businesses have recovered more quickly than
anticipated when open and, if we can sustain this,
the business is not under threat and can wait it out
until the world recovers.
Fortunately, development work on the
SkyCity Adelaide expansion and hotel projects
and associated master planning projects was
able to continue over the period – these projects
continue to progress very well and remain
on-budget and on-time, with the SkyCity Adelaide
expansion and Eos by SkyCity, the new 120-room
luxury hotel, due to open before the end of 2020.
Work recommenced in late May 2020 on the
New Zealand International Convention Centre and
Horizon Hotel projects following the move to Alert
Level 3 of the COVID-19 Alert system in New Zealand
and we now expect Horizon Hotel to be delivered
during 2021 and the New Zealand International
Convention Centre to be completed during 2023.
The capital raising announced in June 2020 ensures
that our major construction projects remain fully
funded and that we are also able to continue with
smaller projects that will enhance operations.
The $230 million equity raising was well supported
and underpinned the restructure of our debt
facilities, enabling us to obtain covenant relief
through to 30 June 2021, securing extensions to
bank facilities due to mature in that period and
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
6

additional debt facilities. We now have “buffer”
facilities of liquidity available to draw down should
the COVID-19 situation worsen, but at present this
is not required. Dividends are currently suspended,
but this will be reviewed against market and
trading conditions during the financial year ending
30 June 2021.
A positive feature of the year has been the launch of
SkyCity Online Casino, which operates out of Malta
but provides an attractive online entertainment
offering to New Zealanders. This business ramped
up significantly from March 2020 and has now
grown into a profitable operation despite the
very low key and conservative approach taken in
comparison to other offshore online businesses
targeting New Zealanders. We observed a slight
reduction in online gaming revenue following
the reopening of the New Zealand properties in
May 2020, but saw an increase in activity during
the recent closure in Auckland in August 2020
with customer registrations currently over 35,000.
We continue to prepare for a regulated online
industry in New Zealand and are supportive of
Government initiatives in this regard.
The result for the financial year ended 30 June 2020
is complicated by strategic actions taken in
2019 and 2020, the New Zealand International
Convention Centre fire and COVID-19 related
issues. Comparability between the FY19 and FY20
periods is impacted by COVID-19 related property
closures and the sale of the long term concession
over the SkyCity Auckland car parks (completed in
early FY20). In determining normalised earnings
relative to reported earnings, various adjustments
have been made, including the New Zealand
International Convention Centre fire impact,
a number of COVID-19 related adjustments and a
A$150 million impairment of the SkyCity Adelaide
casino licence.
Our domestic businesses have been performing
stronger than expectations when open in
New Zealand and South Australia, although the
outlook remains unpredictable as we adjust to
new social and economic settings. We reasonably
expect that, in the short to medium term, weaker
economies, lower personal disposable income
and changed entertainment habits, as well as
longer term travel restrictions, will result in SkyCity
being a smaller, domestically focused business.
International Business should recover once travel
restrictions are lifted, but the parts of our business
driven by corporate travel and by tourism, such
as our hotels and the Sky Tower, will take longer
to recover.
SkyCity’s strategic plan is focused on managing
the post COVID-19 recovery and completing
its major projects in Adelaide and Auckland,
which will underpin medium term earnings and
cash flow growth.
We are also able to continue with the many initiatives
that we have underway under our sustainability
pillars. Minimising harm to our customers remains
our core focus and we have made a number of
investments into technology over the past year,
significantly improving the tools that we have. We
will be investing further into digital technology to
improve our customer experience. We have the
challenge of rebuilding employee culture after the
significant restructure and we are very focused
on that as well as furthering initiatives relating to
workplace flexibility and diversity. We have made
good progress in refocusing our SkyCity Community
Trusts in New Zealand on initiatives that will enhance
the employability, wellbeing and advancement of
youth and we have upweighted strategies to ensure
our supply chain is ethical and supports local business.
We have followed through on our commitment to go
carbon neutral in Australia as planned (having gone
neutral in New Zealand last year) and we are well
advanced with solutions to reduce waste to landfill.
The COVID-19 crisis has reinforced how important
business profitability is as an underpin to any
sustainability initiatives – something that perhaps we
took for granted historically, but have now included
as a critical element of being sustainable in the short
and long term.
The past financial year has been incredibly
challenging and stressful for the entire SkyCity family.
We have had to make some significant, tough
decisions to ensure that our business survives and
continues to provide a great place to work and
precincts enjoyed by thousands of our customers.
The Board has been intimately involved with the
executive team in making these decisions, but we
would not be as well positioned were it not for the
enormous amount of hard work and effort made by
the wider teams at corporate and property levels.
The energy, selfless commitment and willingness
to keep stepping up the effort to deal with multiple
challenges is a humbling reflection of the company
culture and I would like to thank everyone for their
unwavering support in these unprecedented times.
Graeme Stephens
Chief Executive Officer
GENERAL
7
Chief Executive Officer's Review

SkyCity is investing A$330 million to transform SkyCity Adelaide into a world-class entertainment hub
– the new 12-storey building features a sweeping, curved golden façade, a luxury 120-room hotel, restaurants
and bars, conference and event facilities, a spa and wellness centre and expanded gaming experiences.

About this Annual Report
This annual report is a review of SkyCity
Entertainment Group Limited (SkyCity or the
company and, together with its subsidiaries,
the Group) and its subsidiary companies’
performance for the financial year ended
30 June 2020. Where appropriate, information
is also provided in relation to activities that
have occurred after 30 June 2020, but prior to
publication of this annual report.
This annual report has been prepared in accordance
with the Listing Rules and Corporate Governance
Code of NZX Limited, the New Zealand Companies
Act 1993 and the New Zealand Financial Markets
Conduct Act 2013 and (although SkyCity is not
required to comply with ASX Listing Rule 4.10,
which requires entities to include certain prescribed
information in their annual reports, as it has a
‘Foreign Exempt Listing’ status on ASX Limited)
substantially reflects the Listing Rules of ASX
Limited and the Corporate Governance Principles
and Recommendations (Fourth Edition) of the ASX
Corporate Governance Council.
This annual report has also been prepared with
due consideration of the International Integrated
Reporting Council’s International Integrated
Reporting Framework. Integrated reporting
applies principles and concepts that are focused
on bringing greater cohesion and efficiency to
the reporting process and adopting ‘integrated
thinking’ as a way of breaking down internal silos
and reducing duplication.
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 228–231 of this annual report.
The financial statements have been prepared
in accordance with the International Financial
Reporting Standards. This annual report
includes both reported and normalised financial
information. Our objective in providing normalised
financial information is to provide data that is useful
to the investment community in understanding
the underlying operations of the SkyCity Group
– the intention being 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 New Zealand and Australia.
This objective is achieved by:
• eliminating the inherent volatility (or 'luck' factor)
from International Business, which has variable
turnover and actual win percentage period
to period;
• eliminating structural differences in the business
between periods; and
• eliminating known different treatments with
other New Zealand and Australian publicly listed
casino companies.
Normalised numbers are a non-GAAP financial
measure. A reconciliation of reported and
normalised earnings and a description of the
differences are provided on pages 224–227 of this
annual report.
Certain totals, subtotals and percentages stated in
this annual report may not agree throughout due
to rounding.
Unless otherwise stated, all dollar amounts in this
annual report are expressed in New Zealand dollars.
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 3 September 2020 and
is signed on behalf of the SkyCity Board by:
Rob Campbell
Chair
Bruce Carter
Deputy Chair
GENERAL
9

2019
• Rollout of a refreshed
SkyCity brand and logo
across the New Zealand
properties – with the new
logo reflecting the sum
of many parts of SkyCity’s
business and paying
homage to the stars of the
Southern Hemisphere
JULY
• A significant fire broke
out on the roof of the
New Zealand International
Convention Centre (under
construction) resulting in
significant disruption to
the Auckland CBD,
a three-day closure of the
SkyCity Auckland precinct
and significant delay to the
completion dates for the
New Zealand International
Convention Centre and
adjacent Horizon Hotel
OCTOBER
• Construction commenced
on the All Blacks Experience,
an exciting new venture
between New Zealand Rugby
and Ngāi Tahu Tourism, in
the Federal Street precinct at
SkyCity Auckland
• Six SkyCity Auckland restaurants
included in the prestigious
Cuisine Good Food Awards list
for 2019 in New Zealand. The Grill
was also awarded two hats and
Depot, Gusto at the Grand and
MASU by Nic Watt were each
awarded one hat
• SkyCity Entertainment
Group named a finalist in the
Most Improved Performance
category in the 2019 Deloitte
Top 200 Awards
NOVEMBER
• New external LED lightbulbs
installed on the Sky Tower,
supporting SkyCity’s climate
change commitment to
reduce carbon emissions
from lighting the Sky Tower
by 10%
• SkyCity joined the
New Zealand Government’s
Energy Efficiency and
Conservation Authority’s
Gen Less programme, which
empowers New Zealand
businesses and individuals
to live a climate-friendly
lifestyle by lowering energy
consumption
DECEMBERAUGUST
• SkyCity Online Casino
launched in partnership
with international
iGaming company Gaming
Innovation Group Inc
• Sale of long term concession
over SkyCity Auckland car
parks completed
• Launched new customer
websites, and new apps
for customers and SkyCity
Premier Rewards members,
in New Zealand
SEPTEMBER
• SkyCity announced as
the ‘Official Hotels and
Entertainment Partner’
for the Emirates Team
New Zealand defence of
the 36th America’s Cup
in March 2021
Year in Review
10

2020
• The Guardsman, a new
bar and restaurant,
opened at SkyCity
Adelaide following a
A$6 million restoration
of the Adelaide Railway
Station’s former Great
Dining Hall. The new
venue pays homage to
the Railway Station’s rich
heritage and features a
grand central bar, open
kitchen and a coffee front
JANUARY
• Changes implemented
in response to COVID-19,
including significantly
reducing capital expenditure
and minimising operating
costs, including an
immediate restructure of
the management team and
salaried employee base in
New Zealand
• Eos by SkyCity announced
as the name of the new
120-room luxury hotel being
developed as part of the
A$330 million SkyCity Adelaide
expansion project, with the
first guests expected to be
welcomed in late 2020
APRIL
• The SkyCity Auckland,
Hamilton and Queenstown
properties (excluding
Wharf Casino) reopened on
14 May 2020 following the
New Zealand Government’s
decision to move to
Alert Level 2
• SkyCity moved forward
to further reduce its
New Zealand workforce and
commenced consultation
on a proposal to reduce its
rostered (waged) staff due
to the expected significant
impact of COVID-19 on its
operating environment and
financial outlook
MAY
• Launched a $230 million equity raising
as part of a comprehensive funding
plan to strengthen SkyCity’s balance
sheet in response to uncertainty around
the impacts of COVID-19. In conjunction
with the equity raising, SkyCity also
secured the support of existing lenders by
way of covenant waivers/relief, extensions
to $170 million of upcoming debt
maturities and $160 million in
additional debt facilities
• S&P Global Ratings affirmed SkyCity
Entertainment Group Limited’s long term
issuer credit rating and its debt issue
ratings as BBB- (Negative Outlook)
• Restructure of the rostered (waged)
workforce in New Zealand completed
• Awarded a Silver Award in the 2020
Australasian Reporting Awards and a
Silver Award in the 2020 Australasian
Sustainability Reporting Awards for
SkyCity’s 2019 annual report
• SkyCity Adelaide reopened on
29 June 2020 as part of the South
Australian Government’s three-stage
approach to easing the COVID-19
restrictions
JUNEFEBRUARY
• Fundraising activities
across the Auckland,
Adelaide and Hamilton
properties raised over
$55,000 for the South
Australia Country Fire
Service Foundation to
acknowledge and
support the devastating
Australian bushfires
MARCH
• Completed a $5.5 million
refurbishment of EIGHT, a
VIP table game area, and a
$6 million refurbishment of
our International Business
'Horizon' gaming suites
in Auckland
• All SkyCity properties closed
on 23 March 2020 following
announcements by the
Australian and New Zealand
Governments mandating
their immediate closure in
response to COVID-19
GENERAL
11

FY20 REVENUE BY BUSINESS ACTIVITY
Our Business
Creating Value
HOSPITALITY
GAMING
HOTELSSKY TOWER
328
metres tall
635
hotel rooms
19
restaurants
5 land-based
casino licences
3,204
electronic gaming
machines
273
table games
307
automated table games
14
bars
3,817staff
5 properties across New Zealand and Australia
As at 30 June 2020
1 online casino
ReportedNormalised
%%
Local Gaming71%67%
International Business6%10%
Hotel & Conventions7%6%
Food & Beverage12%10%
Other4%7%
12

$
125.5 million
in taxes to Governments
(including GST, gaming tax and
income tax)
$
295.8 million
in remuneration and benefits
to staff
$
66.4 million
of dividends declared in relation
to FY20 period for shareholders
$
10.4 million
in community contributions,
levies and sponsorships
$
204.5 million
to suppliers
$
347 million
of capital invested
$
41.4 million
in interest paid to lenders
FY20 Outputs & Financial Results
FY20 revenue and annual visitation
GAMING
$
496.0 million
including online
(reported)
$
601.3 million*
including online
(normalised)
1.9million
HOSPITALITY
$
76.8 million3.5
HOTELS
$
34.6million158,377
SKY TOWER
$
14.9 million410,321
*Includes gaming GST.
** 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.
visits
visits from loyalty card members
to our land-based casinos**
million restaurant/bar covers
rooms occupied
GENERAL
13

Our sustainability vision recognises that, to be a sustainable business, we must
be a responsible business actively protecting and promoting the people we
serve and the places we share, whilst creating value for our shareholders.
SkyCity’s sustainability initiatives are therefore focused on doing good for our
customers, our employees, our communities, our suppliers, our environment
and our shareholders.
OUR CUSTOMERS
Significant investment in additional
host responsibility measures to improve
our ability to detect excluded persons
and continuous play, including the
introduction of facial recognition
technology across all SkyCity land-based
casinos, which has led to a significant
increase in the detection of excluded
persons returning to a SkyCity casino in
breach of their exclusion orders during
the period.

43 cameras
installed across SkyCity casinos for
facial recognition during FY20

1,757 customers
identified in breach of their exclusion
orders during FY20
FY19 – 874
As at 30 June 2020
21,327 customers
have downloaded the new SkyCity app
(launched in August 2019)
OUR PEOPLE
Establishment of a $1 million SkyCity
Employee Hardship Fund, from funds
contributed by the Senior Leadership Team
and other senior executives across the
business via voluntary salary reductions
and voluntary contributions by other staff
members, to assist employees impacted by
COVID-19.

Downsized our New Zealand workforce
by around
25%
in response to COVID-19
ZERO
fatalities or serious injuries
8% reduction
in Total Recordable Incident Frequency
Rate (TRIFR) from FY19 baseline
72% increase
in hazard identification reports from
FY19 baseline
FY20 Outcomes & Impacts
SkyCity’s sustainability strategy is linked to seven of the 17 United Nations Sustainable Development Goals
(a set of goals to end poverty, protect the planet, and ensure prosperity for all as part of a new sustainable
development agenda) – Good Health and Well-being (Goal 3), Quality Education (Goal 4), Gender Equality
(Goal 5), Decent Work and Economic Growth (Goal 8), Responsible Consumption and Production (Goal 12),
Climate Action (Goal 13) and Partnerships to Achieve the Goal (Goal 17).
A full description of the Sustainable Development Goals is available at www.un.org/sustainabledevelopment.
SkyCity recognises that, for the Goals to be achieved, everyone needs to do their part and business and
industry play an important role. We are committed to playing our part in helping to achieve the Goals.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
14

OUR COMMUNITIES
Contributed a total of $3.7 million to the
four New Zealand SkyCity Community
Trusts for distribution to communities in
the Auckland, Waikato, and Queenstown
Lakes regions. In addition to company tax,
SkyCity paid over $33 million in gaming tax
and problem gaming levies derived from
SkyCity's gaming operations.


$
3.7 million
paid to the SkyCity Community Trusts
FY19 – $4 million
$
33.1 million
paid in gaming taxes and
problem gaming levies
FY19 – $43.1 million
OUR SUPPLIERS
SkyCity has approximately 800 key ongoing
significant suppliers across the SkyCity Group,
with a substantial number of these being in
the food and beverage sector.

Over
$
530 million
paid to suppliers of goods and services
during FY20 (including capital expenditure)
FY19 – over $450 million
OUR ENVIRONMENT
SkyCity was among the first major
New Zealand companies to go carbon
neutral and was certified carbonzero
by Toitū Envirocare in New Zealand in
October 2019 having paid $86,000 to offset
the equivalent of 12,866 tonnes of carbon
(measured in FY19).
The carbon credits purchased through Toitū
Envirocare are generated by international
projects, which will fund 48,000 solar
household cookers for rural communities in
China and help build wind farm capacity in
India to replace fossil fuel alternatives.

Certified carbonzero in New Zealand by
offsetting in FY20 the equivalent of
12,866 tonnes CO2e
15,137 tonnes CO2e
total carbon footprint
FY19 – 19,093 tonnes CO2e
Sky Tower lighting upgraded
to LED resulting in a
10% energy saving
OUR SHAREHOLDERS

10 cents
total dividend per share (fully imputed)
FY19 – 20 cents per share

FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) has
confirmed that SkyCity Entertainment Group has been independently assessed according to
the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the
FTSE4Good Index Series.
Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed
to measure the performance of companies demonstrating strong Environmental, Social and
Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market
participants to create and assess responsible investment funds and other products.
GENERAL
15Creating Value

Performance
FY20 Highlights
SkyCity’s financial result for the financial year ended 30 June 2020 has been significantly impacted by the
New Zealand International Convention Centre fire and COVID-19 pandemic that emerged in New Zealand
and Australia in early 2020, with normalised EBITDA and NPAT for the Group for the period to 30 June 2020
negatively impacted but at the top-end of the guidance range provided at the time of our equity raising in
June 2020.
Our reported results were up significantly over the prior year however due to accounting for the
New Zealand International Convention Centre fire and the gain from the sale of the long term concession of
the SkyCity Auckland car park, partially offset by a A$150 million impairment of the Adelaide casino licence.
Pleasingly, our domestic business (which has historically accounted for over 85% of Group EBITDA) has
demonstrated its resilience and traded well ahead of expectations when open and fully operational
following the property closures in March 2020.
The key features of the FY20 result are:
10 cents per share
35,000
customer registrations
DIVIDEND
Interim dividend* (fully imputed) of
SKYCITY ONLINE CASINO
Over
EQUITY RAISING
$
235.4 million
Reported
$
230 million
equity raising launched in June 2020 and successfully completed during June and July 2020
$
348.3 million
Reported
$
66.3 million
Normalised
$
200.7 million
Normalised
EBITDA
N PAT
SkyCity Online Casino has grown rapidly since its launch in August 2019 despite operational constraints,
with significant growth in its customer base over the period – with over 35,000 customer registrations as
at 31 August 2020 – and the business being profitable since April 2020
*AfinaldividendwasnotdeclaredforFY20duetorestrictionsinthecovenantwaivers/reliefsecuredaspartofthefundingplanannouncedby
thecompanyinJune2020.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
16

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
35.0
FY15FY16FY17FY18FY19FY20
22.9
22.0
20.0
25.5
24.3
21.0
25.4
25.3
20.0
25.6
21.4
20.0
10.0
35.4
10.0
23.4
6.8
20.0
Group EBITDA
0.0
50
FY15FY16FY17FY18FY19FY20
100
150
200
$ million
250
300
350
305
304
330
334
338
310
343
298
201
348
320
307
Group Revenue
0
200
FY15FY16FY17FY18FY19FY20
400
600
800
$ million
1,000
1,200
1,008
867
1,084
919
1,101
816
1,119
822
780
1,125
1,029
878
Enterprise Value
0.0
500
1,000
1,500
2,000
$ million
2,500
3,000
3,500
FY15FY16FY17FY18FY19FY20
643
3,110
2,467
348
3,357
3,009
447
3,196
2,749
488
3,036
2,548
541
2,308
1,767
349
3,072
2,723
NetDebt
(2)
Equity Value
(1)
(1) Basedonthesharepriceandnumberofsharesonissueasat30Juneineachfinancialyear.
(2) Grosshedgeddebtlesscashatbankasat30Juneineachfinancialyear.
*This is a summation of the first six lines on the face of the Income Statement.
Note: FY19 and prior year results include the Darwin operations.
Reported
Normalised
Reported
Normalised
(IncludinggamingGST)
DeclaredDPS
ReportedEPS
NormalisedEPS
*
GENERAL
17Performance

identifyasbeinga
memberofthe
LGBTTI+ community
SkyCity is a major employer with over 3,800 staff. 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 makeup of our workforce as at 30 June 2020 and, where relevant,
as a comparison against our workforce numbers as at 30 June 2019.
FY19 – 6%
3,817
(full-time,part-time
and casual)
STAFF
FY19 – 5,031

Diversity Snapshot
6
%
ofourworkforce
are36yearsold
and under
FY19 – 59%
58
%
identifyashaving
adisability
FY19 – 1%
1
%
averageageof
our workforce
FY19 – 35 YEARS
36
YEARS
Mandarin
Tagalog
(Philippines)
Hindi
different
languages
57
ageofouroldest
staff member
FY19 – 83 YEARS
79
YEARS
Top3 
non-English
languages:
Staffspeak/writein
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
18

womenmen
ofleadershiproles
heldbywomen
gender diverse
Top10ethnicities*
staffidentifywith:
Chinese 17%
15%
11%
11%
8%
7%
6%
6%
3%
2%
NewZealander
Indian
Australian
Māori
OtherAsian
Filipino
European
Samoan
Other 
European
*Givenasapercentageofthosestaff
memberswhoprovideddetails
abouttheirethnicity.
FY19 – 48.8%
FY19
40.8%
28.8%
18.8%
11.5%0.1%
FY19 – 51.1%
FY19 – 0.1%
FY19 – 38%
AGE
Millennials(24–36years)38.4%
GenerationX(37–53years)31.4%
GenerationZ(<23years)19.2%
BabyBoomers(54–75years)10.9%
Veterans(76–93years)0.1%
GENERAL
The gender composition of SkyCity’s directors, officers, senior executives and total workforce as at 30 June 2020
and, comparatively as at 30 June 2019, is set out below:
FemaleMale
2020Number%Number%Total
Directors240%360%5
Officers343%457%7
Senior Executives440%660%10
Total Workforce1,83248%1,98052%3,812
FemaleMale
2019Number%Number%Total
Directors233%467%6
Officers338%562%8
Senior Executives436%764%11
Total Workforce2,45649%2,56951%5,025
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, with the exception of the Chief Executive Officer, 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 include those who identify as gender diverse and those who elected not to identify as being
female, male or gender diverse.
39
%
1
%
48
%
51
%
19
Diversity Snapshot

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

Group Strategy
In 2018, 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 in
2018 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 focused 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 land-based 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;
• 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 in progress which
still require significant investment to complete
over the next few years. While we are very
comfortable with our ability to service and
repay the debt funding for these projects,
we currently have limited 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.
Despite the challenges presented by the COVID-19
global pandemic, SkyCity’s Group strategy
remains relevant today with an immediate focus
on managing the post COVID-19 recovery and
completing the major projects in Adelaide and
Auckland which will underpin medium term
earnings and cash flow growth. The investments
we make generate wide-ranging benefits for
our communities and through the New Zealand
International Convention Centre and Horizon Hotel
project in Auckland, plus the casino expansion and
‘Eos by SkyCity’ hotel development in Adelaide,
we will support the economic and tourism
recoveries in both communities.
Given the uncertainty still facing the business
however, it is unlikely that any large, new,
capital intensive developments will be advanced.
The balance sheet capacity and liquidity buffers will
be preserved to protect against possible trading
downside scenarios and potential future COVID-19
related closures. Consequently, hotel development
and property master planning and development
initiatives are currently on hold although still
continue to be refined.
SkyCity has historically delivered a relatively
high dividend yield for shareholders – however,
dividends are currently suspended due to covenant
waivers/relief secured as part of the funding plan
announced in June 2020. SkyCity will be reviewing
its dividend policy over the coming months with the
aim of resuming dividend payments later in 2021.
GENERAL
21

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
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
22

This section provides a summary of SkyCity’s
performance and strategic positioning to create
value during the financial year ended 30 June 2020
and our priorities for the year ahead.
FY20 Performance –
Our Business Goals
Improve our Operating Performance
During the year in review, SkyCity faced significant
challenges arising from the fire at the New Zealand
International Convention Centre and the impacts
of COVID-19. We were able to move quickly to right
size our operations for our expected future demand
environment and to stand up our operations
on reopening. Following implementation of the
labour restructure in New Zealand during the
period, SkyCity expects to deliver $50 million in
annualised cost savings and a more flexible and
resilient operating model going forward to be able
to effectively manage an uncertain domestic and
international environment.
The benefits of investment in new gaming
product, product management and changes
to floor layout continue to be realised across
the Group, particularly in Auckland, as is our
ongoing investment in premium/VIP gaming.
SkyCity continues to leverage complementary assets
to drive gaming visitation (ie. hotels, car parking and
casino food and beverage) and focus on targeted
and tactical marketing as a cost-effective tool for
driving profitable visitation. The strong performance
of our gaming machine business when open post
property closures has been particularly pleasing
given its importance to Group earnings and value.
We continue to make good progress on our ICT
investment and digital capability. We have delivered
significant change to critical ICT infrastructure and
are now at a point where we can focus on initiatives
to enhance the customer experience, centred
around web and mobile, customer relationship
management and data analytics.
Optimise our Existing Portfolio
We have progressed a number of key initiatives
to optimise our existing portfolio over the year
in review.
Excellent progress has been made on the
SkyCity Adelaide expansion project during
the year. The project is progressing well and is
due to open before the end of 2020. In addition,
the significant master planning works for the existing
SkyCity Adelaide business within the Railway Station
building remain on track to complete in time for
the expansion opening. We expect to open the
facilities in a staged manner, reflecting customer
demand, with a focus initially on local and interstate
customers (given expected ongoing international
border closures). Significant focus is being given to
preparing SkyCity Adelaide for operationalisation to
ensure a smooth handover and ensure we can hit
the ground running from opening. We are currently
in the process of hiring up to 700 new employees
who will be required when the expansion is fully
operational and expect to implement new regulatory
reforms (banknote acceptors, ticket-in ticket-out
(TITO) technology on the main gaming floor and a
multi-protocol gaming system) from October 2020,
following completion of the South Australian
Government’s regulatory review. Walker Corporation,
which is developing Festival Plaza and a 1,500-space
car park (adjacent to SkyCity Adelaide), is progressing
satisfactorily, but slightly behind schedule, and we
now expect the car park to be handed over towards
the end of FY21. SkyCity still expects to deliver the
project in-line with its A$330 million budget and
that the project will transform SkyCity Adelaide
into a world-class entertainment complex. As
previously flagged, SkyCity has booked a A$150
million impairment of SkyCity Adelaide’s carrying
value due to the revised timeframe to achieve long
term potential earnings post expansion, exacerbated
by the impact of COVID-19 – this is a non-cash item
which reduces intangible asset value (casino licence)
and does not impact debt covenant calculations.
The fire at the New Zealand International
Convention Centre (NZICC) site during
October 2019, coupled with disruptions to
construction activity as a consequence of COVID-19
restrictions, has resulted in further significant
delays to the project. At this stage, we expect
Horizon Hotel to be completed during 2021 and the
NZICC during 2023, with the possibility of hosting
conferences by late 2023 or early 2024. We expect
the 600 car parks damaged by the fire to be
returned by the end of FY21 and the balance of the
car parks (650 spaces) alongside completion of the
NZICC. Despite the impacts of the fire and COVID-19
on the project timetable and delivery, we remain
comfortable with our contractual position –
Fletcher Construction is required to complete
the project and, during May 2020, we secured
a two-year extension to the long stop date to
complete the NZICC (to 2 January 2025) with the
New Zealand Government.
GENERAL
23
Group Strategy

As previously reported, appropriate project
insurance is responding to the NZICC and
Horizon Hotel reinstatement, with the first tranche
of the insurance proceeds (totalling $105 million)
received. We expect the total cost to reinstate the
NZICC and Horizon Hotel to be fully covered by
insurance and, accordingly, there are no changes
to previous guidance for the total project costs to
SkyCity (of around $750 million). Whilst the further
delays on the project are regrettable, the long term
investment thesis for the project remains intact –
the NZICC will support long term growth in tourism
expenditure and be a significant demand driver
for our Auckland precinct, in addition to having
secured an exclusive casino licence for our key
property out to 2048.
Beyond the major projects, master planning
and development opportunities in Auckland,
Hamilton and Queenstown continue to be refined
– however, major decisions are currently paused
due to COVID-19, balance sheet constraints for the
foreseeable future and an uncertain outlook for
our tourism-related businesses. Significant long
term option value remains embedded in our
Auckland precinct (including 2,500sqm of land
able to be developed) and a potential hotel
opportunity in Hamilton, whilst currently 'on hold', is
a complementary asset which would support long
term growth of the property. We continue to evaluate
future options for our Queenstown properties given
their reliance on VIP gaming and international
tourists. A range of other smaller projects were
completed during the year in review – most notably,
the major refurbishment and expansion of premium
gaming facilities in Auckland and upgrades to
Marble Hall and associated facilities at SkyCity
Adelaide, which included the opening of The
Guardsman, a South Australian themed restaurant
and bar in the historic Railway Station building.
We are continuing to progress further opportunities
to release capital from property assets and
restructure over the medium term, which includes
exploring an internal restructuring of our operations
and property assets. A potential opportunity exists
to establish standalone funding structures and
unlock unrecognised value in property assets
(with an estimated fair value of $2 billion of land
and buildings owned as at 30 June 2020) – with
our intention to separately report our operations
and property assets once the internal restructure
is complete. We continue to evaluate the potential
sale of certain non-core assets, such as the
AA Centre (SkyCity HQ) in Auckland once current
building works and leasing are completed.
SkyCity remains focused on effective capital
discipline and, following announcement of our
funding plan which included a $230 million equity
raising successfully executed during June and
July 2020, our balance sheet is in a strong position
to deliver on our medium term strategic plan.
Following the equity raising, we have sufficient
liquidity to fund our major projects in Adelaide and
Auckland and to respond to a range of downside
scenarios, including a longer and more protracted
recovery in New Zealand and Australia and/or
further COVID-19 disruptions. Our balance sheet
capacity for future growth projects and/or capital
management will be reviewed when we are no
longer in reliance on covenant waivers/relief secured
as part of the funding plan and the domestic and
international environment becomes more certain.
We remain committed to our BBB- (negative
outlook) credit rating which S&P Global Ratings
re-affirmed following the equity raising and well
positioned to raise further debt capital if required
in the future.
Grow and Diversify our Business
We launched SkyCity Online Casino, an offshore
online casino, in August 2019 with Gaming
Innovation Group (GiG) via a Malta-based
subsidiary. The site, which offers high quality host
responsibility and a brand name New Zealanders
can trust, has seen strong growth during FY20 with
over 25,000 customer registrations by year-end
(over 35,000 as at the end of August 2020) and
the business trading profitably from April 2020.
GiG provides SkyCity with a full-suite online casino
solution, which includes a technical platform,
gaming content, managed services and front-end
development. SkyCity supports future regulation
of the New Zealand online casino market,
including introducing an appropriate licensing
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
24

regime for operators and imposing taxes and
host responsibility requirements. Following a
public consultation commenced during 2019, the
Department of Internal Affairs (the New Zealand
gambling regulator) is developing a policy
framework for potential regulation. While ultimately
a regulated online gaming market in New Zealand
remains the preferred solution for SkyCity, the
launch of SkyCity Online Casino is an important
step on the journey of pursuing opportunities to
grow and diversify our earnings, addressing a fast
growing industry which is highly complementary to
our land-based activities and offering customers a
multi-channel gaming experience.
SkyCity’s strategy for growing its hotel business
remains focused on the successful delivery of
Eos by SkyCity and the Horizon Hotel in Auckland
over the next 12–18 months. Longer term hotel
development opportunities on existing precincts
continue to be refined, but major decisions are
currently paused due to COVID-19.
As an entertainment and hospitality provider,
SkyCity is challenged to stay relevant in relation
to new forms of entertainment. In addition to
our foray into online gaming, by late 2020, the
existing SkyCity Auckland Convention Centre will
become home to the All Blacks Experience and
Weta Workshop, both providing unique, interactive
customer experiences. Federal Street will become
Auckland’s leading entertainment zone ensuring
the long term relevance of our precinct and appeal
to a broad range of demographics.
SkyCity also continues to monitor and evaluate
regional merger and acquisition opportunities in its
industry, noting that inorganic growth opportunities
are likely to emerge as a consequence of the impact
of COVID-19 on the casino industry and both the
domestic and global economies.
FY20 Performance – Our
Character and Culture Goals
At SkyCity, we need to continually focus on
protecting and enhancing our social licence to
operate. Following good progress during FY18
and FY19, we have continued to invest in key
sustainability initiatives, particularly in the areas
of diversity and inclusion. We continue to actively
promote women into leadership positions and
are proud of the gender and cultural diversity 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, particularly in response to
the risks posed by COVID-19 in our communities.
We remain focused on youth development and
supporting our most vulnerable staff. We continue
to meaningfully reduce our gender pay gap
across the New Zealand businesses and the final
instalment of our ‘$20 by 2020’ wage initiative is
scheduled to be implemented in New Zealand by
the end of 2020.
Being a responsible member of our community
remains a key aspect of our sustainability
framework and Group strategic plan. In the year in
review, we achieved carbon neutral status across our
New Zealand operations, launched allocations for
our employee-led SkyCity Green Fund (which will
invest in projects globally to offset emissions) and
implemented initiatives to reduce waste to landfill
and water usage. We have refocused the SkyCity
Community Trusts to ensure targeted allocations
and contributions go to those causes most worthy
within our communities. The establishment of the
SkyCity Employee Hardship Fund in April 2020,
totalling $1 million, has assisted staff facing financial
difficulties as a consequence of the impacts of
COVID-19.
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 teammates, the company and stakeholders.
To ensure our future success across various financial,
social and human capitals, it is important to
continue conducting our business holistically within
the terms of our sustainability framework.
GENERAL
25
Group Strategy

Outlook for FY21
Assuming there is no adverse change to the
current COVID-19 outlook in New Zealand and
South Australia, we expect Group normalised
EBITDA to be above FY20, but still below
pre-COVID-19 and FY19 levels.
We expect the domestic businesses to continue to
perform well when open (although we remain well
prepared for the possibility of further closures), but
are planning for negligible International Business
and international tourism activity due to ongoing
international border closures. At a property/unit level:
• Auckland performance is expected to return to
trends observed prior to the second property
closure in August 2020, driven by a resilient
domestic gaming performance and cost savings,
offset by weaker performance from non-gaming
businesses;
• Hamilton is expected to deliver good
performance versus the prior comparable period
– predominantly domestic business underpinned
by positive gaming machine activity and
cost savings;
• Queenstown is expected to be adversely
impacted by continuing international
border restrictions;
• the Adelaide expansion is expected to open in
phases during FY21 (depending on the operating
environment due to COVID-19) and we expect
EBITDA to be broadly consistent with FY19 levels;
• negligible International Business turnover
is expected, with fixed operating costs for
International Business of around $750,000 per
month; and
• SkyCity Online Casino is expected to deliver a
more meaningful contribution.
SkyCity’s dividend policy is to be reviewed during
1H21. We are not currently able to pay an interim
dividend due to reliance on covenant waiver/relief
(for the December 2020 testing period) secured as
part of the funding plan announced in June 2020,
but are expecting to pay a final dividend for FY21
in September or October 2021 if there are no
significant adverse changes to the current COVID-19
status in New Zealand and South Australia.
Our Business GoalsFY21 Priorities
Improve our
operating
performance
• Manage COVID-19 recovery following reopening of properties
• Maintain a flexible operating model to respond to COVID-19 restrictions
• Increased focus on customer experience management (CXM) and data analytics
• Continue growth in core Auckland gaming business
• Implement new information and communications technology (ICT) systems,
including data management, Internet Protocol television (IPTV) and
facial recognition
• Continue to pursue operating efficiencies and cost savings
Optimise our
existing portfolio
• Complete SkyCity Adelaide expansion project by the end of 2020 and
leverage benefits
• Manage reinstatement of the New Zealand International Convention Centre and
Horizon Hotel project following the fire and impacts of COVID-19
• Enhance Auckland main gaming floor customer experience, including new bar
and food court
• Enhance Auckland VIP gaming experience, including launching BLACK – a new
gaming area for our VIP customers
• Refine development opportunities in Auckland, Hamilton and Queenstown
• Explore potential sale of non-core assets, such as the AA Centre (SkyCity HQ)
in Auckland
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
26

Our Business GoalsFY21 Priorities
Grow and diversify
our business
• Progress opportunity to address online casino market in New Zealand
• Monitor and evaluate regional merger and acquisition opportunities in
our industry
• Support opening of new entertainment attractions, All Blacks Experience and
Weta Workshop, in Auckland
Our Character and
Culture Goals
FY21 Priorities
Offer a great and
safe place to work
• Focus on maintaining staff resilience, morale and motivation
• Maintain a cohesive management team focused on strengthening the
SkyCity culture
• Continuous improvement in health and safety performance
• Continue to promote awareness of mental health risks
• Zero work-related fatalities on our sites and/or sites where SkyCity has primary
control or management responsibilities
• Deliver employment opportunities for youth through our 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
• Maintain best practice host responsibility standards across all properties
• Enhance our facial recognition systems
• Build foundations for a new customer data platform to provide more relevant
insights and communications
• Continue to improve the performance of the SkyCity 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 retain carbon neutral status
• Successfully allocate funds from the SkyCity Employee Hardship Fund to support
staff impacted by COVID-19
• Commence allocations to projects nominated by the employee-led SkyCity
Green Fund
• Implement initiatives to reduce waste to landfill and water usage
GENERAL
27
Group Strategy

Delivering
memorable
entertainment
experiences

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 – each featuring casino gaming
facilities and premium restaurants and bars,
which appeal to both domestic and international
visitors alike.
SkyCity also offers award-winning hotel
accommodation in Auckland at The Grand
by SkyCity and SkyCity Hotel. SkyCity’s hotel
offering will shortly be complemented by Eos by
SkyCity, a new 120-room luxury hotel due to open
in Adelaide, South Australia, before the end of 2020
and Horizon Hotel, a new 300-room 5-star hotel
now expected to be completed in Auckland during
2021 (having been impacted by the significant fire
that broke out at the New Zealand International
Convention Centre in October 2019 and the
COVID-19 pandemic).
In August 2019, SkyCity launched SkyCity Online
Casino, an offshore online gaming business for
New Zealanders, as a logical extension of its
land-based casino operations. Whilst the business is
still very much in its infancy, SkyCity is encouraged
by SkyCity Online Casino’s performance since
launch. As at 31 August 2020, there were over
35,000 registered SkyCity Online Casino customers.
SkyCity employs over 3,800 staff across its
operations in New Zealand and Australia across
more than 180 job types, with around 2,500 staff
based at its flagship property in Auckland.
SkyCity Adelaide
SkyCity Queenstown
and SkyCity Wharf
SkyCity Hamilton
SkyCity Auckland &
Group Head Office
SkyCity Online Casino
Malta
GENERAL
29

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 launches offshore
• SkyCity sells long term concession (licence to operate) over
SkyCity Auckland car parks to Macquarie Principal Finance Group
• A significant fire broke out at the New Zealand International
Convention Centre (under construction)
2020
• COVID-19 pandemic temporarily closes all SkyCity
properties in New Zealand and Adelaide, South Australia
1999
• SkyCity lists on the Australian stock exchange
1997
• Sky Tower opens in Auckland
2000
• SkyCity Queenstown opens
• SkyCity acquires SkyCity Adelaide
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 SkyCity Adelaide expansion project
OUR HISTORY AT A GLANCE
30

Auckland
PropertySkyCity Auckland, New Zealand
General Manager
Michael Ahearne, Chief Operating Officer
Opened1996
Casino Venue LicenceRuns until 2048*
Facilities• Casino
• Hotels
• Food and beverage
• Entertainment
• 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~2,500 staff
FY20 Revenue $451.0 million** (reported)
$497.3 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.
**Excludes New Zealand International Convention Centre fire income and the sale of the Auckland car park concession.
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 Grand by SkyCity
and SkyCity Hotel, bars and restaurants, 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 1,250 additional car parking spaces
and the new 300-room, 5-star Horizon Hotel.
This development was originally expected to be
completed in 2019 – however, due to initial delays by
the contractor, the significant fire that broke out at
the New Zealand International Convention Centre
in October 2019 and the subsequent impacts of the
COVID-19 pandemic that emerged in early 2020,
GENERAL
31
About SkyCity

Horizon Hotel is now expected to be completed
during 2021 and the New Zealand International
Convention Centre and adjacent laneway are
expected to be completed during 2023.
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.
During the last financial year, SkyCity completed
a $5.5 million refurbishment of EIGHT, a VIP
table game area located on Level 8 of the
SkyCity Auckland main site. A new $22 million
BLACK and Ultra VIP gaming machine area on
Level 9 of the SkyCity Auckland main site was
scheduled to open in April 2020 but, due to
COVID-19 related delays, will now open later
this year. These new areas will provide an unrivalled
VIP offering and experience to our domestic
VIP customers.
Two new attractions are expected to open
at SkyCity Auckland before the end of 2020.
The All Blacks Experience is a joint venture between
New Zealand Rugby and Ngāi Tahu Tourism and will
provide visitors with a state-of-the-art, interactive
experience showcasing 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.
Academy Award-winning design and effects
company Weta Workshop will open an immersive
attraction to complement its behind-the-scenes
tours at their Miramar headquarters in Wellington.
Over the last financial year, we have also continued
to evaluate 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 recent
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. In light of the COVID-19 pandemic, it
is unlikely that any significant commitments will be
made in the short term until there is greater certainty
of the domestic and international economic
environments.
FY20 PERFORMANCE
SkyCity Auckland delivered a robust performance in
FY20 despite significant external events impacting
the business. Good momentum was achieved
prior to the fire at the New Zealand International
Convention Centre and impact of COVID-19,
including record local gaming activity for the eight
months to 29 February 2020.
The property achieved positive performance from
reopening in mid-May 2020 until the further
mandated closure on 12 August 2020 (in response
to an isolated COVID-19 outbreak in the greater
Auckland area), particularly from gaming machines,
despite reduced capacity and limited marketing
and promotional activity. The non-gaming
businesses performed satisfactorily, particularly
the hotels. Local gaming activity during the
period from 1 June – 11 August 2020 returned to
pre-COVID-19 levels.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
32

Six SkyCity Auckland signature restaurants, The Grill, Gusto at the Grand, MASU by Nic Watt,
Depot, Federal Delicatessen and Huami, were named in the prestigious 2019 Cuisine Good
Food Awards list, with The Grill receiving two hats and each of Depot, Gusto at the Grand
and MASU by Nic Watt receiving one hat (November 2019)
East Day Spa, located in The Grand by SkyCity, was named New Zealand’s Best Hotel
Spa at the 2019 World Spa Awards (October 2019)
The Sky Tower was named by TripAdvisor as #1 of 203 things to do in Auckland Central
The Sugar Club and Huami were both named in Metro Magazine’s 2019 Top 50 Bars
(August 2019)
FY20 ACHIEVEMENTS
The new BLACK gaming machine area at SkyCity Auckland will cater for our domestic VIP customers.
GENERAL
33
About SkyCity

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~300 staff
FY20 Revenue$52.3 million (reported)
$58.8 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, bars and
restaurants, a conference centre and Hamilton’s
only tenpin bowling alley.
The SkyCity Hamilton business has been on a
transformational journey over recent 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 a new café
in 2019. A new Baccarat lounge was opened on the
casino floor in mid-July 2020.
Over the last financial year, we continued to
progress 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, and
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 December 2018, SkyCity applied to the
New Zealand Gambling Commission to deploy
60 additional electronic gaming machines at
SkyCity Hamilton in substitution of three existing
Blackjack table games. The Commission received
242 separate submissions from the general
public as well as submissions from Hamilton City
Council, the Ministry of Health, Waikato District
Health Board, Problem Gambling Foundation,
Mapu Maia, Salvation Army Oasis, the Department
of Internal Affairs, Anglican Action Mission Trust
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
34

and Christchurch Casino Limited. A public hearing
took place in Hamilton from 19 – 26 November 2019
at which the Commission heard both factual and
expert evidence, and detailed legal submissions
from the seven parties authorised to appear and
be heard. In June 2020, the Commission released
its decision declining the application on the basis
that the proposed amendments to the licence
conditions involved an opportunities substitution
which was not proportionate in terms of the
provisions in the New Zealand Gambling Act 2003.
SkyCity is currently considering whether to make
another application to the Commission for a lesser
number of electronic gaming machines.
The hotel development and feasibility analysis
are currently on hold until there is greater
certainty of the domestic and international
economic environments.
FY20 PERFORMANCE
SkyCity Hamilton achieved a solid performance
during FY20 despite the impact of COVID-19 and
related property closure. EBITDA was only slightly
down on the prior year on a like-for-like basis and
record local gaming activity was achieved in the
eight months to 29 February 2020, underpinned
by strong activity from gaming machines, despite
being capacity constrained during peak periods.
The property has achieved strong performance
since reopening from mid-May 2020, with gaming
machine revenue above pre-COVID-19 levels and a
positive response from key customers to marketing
and promotional activity.
SkyCity Hamilton
GENERAL
35
About SkyCity

The Guardsman at SkyCity Adelaide.
Eos by SkyCity will be Adelaide's most luxurious hotel when it opens.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
36

Adelaide
PropertySkyCity Adelaide, Australia
General Manager
David Christian
Acquired2000
Licensing Agreement Runs until 2085*
Facilities• Casino
• Hotel (due to open before the end of 2020)
• 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 (allowance for 300)
Workforce~1,000 staff
FY20 RevenueA$112.3 million (reported)
A$121 million (normalised)
* The Approved Licensing Agreement between the Minister for Business Services and Consumers and SkyCity Adelaide Pty Limited provides
SkyCity Adelaide 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 Torrens River, SkyCity Adelaide is
South Australia’s only casino destination.
In January 2020, after being overlooked for more
than a decade, the former Overland Dining Hall in
the Railway Station building was transformed into a
new, all-hours bar and restaurant 'The Guardsman'
following a A$6 million restoration. The new venue
pays homage to the Railway Station’s rich heritage,
featuring a grand central bar, open kitchen and a
coffee front.
SkyCity is currently investing A$330 million to
transform SkyCity Adelaide into a world-class
integrated entertainment hub on the Festival Plaza
forecourt adjacent to the Adelaide Festival Centre
and Adelaide Convention Centre and near the
Adelaide Oval. Designed by The Buchan Group in
association with Hecker Guthrie Walter Brooke, and
built by Hansen Yuncken, the new development is
scheduled to open before the end of 2020 and will
include a 120-room luxury hotel – Eos by SkyCity,
wellness centre with a day spa, pool, sauna and
gym, VIP gaming facilities, function and conference
facility for up to 650 guests, two new bars (including
a rooftop bar) and four additional signature
restaurants.
Eos by SkyCity will be Adelaide’s most luxurious
hotel, with rooms ranging from 50sqm – 230sqm
and opulently appointed to meet the growing
demand for quality hotel rooms from both
domestic and international visitors.
As part of the transformation, the existing
SkyCity Adelaide business, housed in the iconic
Adelaide Railway Station building, is also being
revitalised and restored to improve the layout and
experience for customers, including:
• 5,000sqm of new carpet throughout
the building;
GENERAL
37
About SkyCity

• repainting Marble Hall, the former grand domed
waiting room in the Railway Station building,
for the first time since SkyCity Adelaide opened
in 1985;
• restoration of heritage features and installation
of lighting features in Marble Hall;
• creation of The District at SkyCity – a new
live entertainment space on Level 1, which
will feature Australia’s first fully functional
microbrewery (operated by Pirate Life) within
a casino;
• refurbishment and extension of the
Baccarat Pavilion;
• a restoration of Chandelier Bar; and
• construction of a new Central Café on the
Ground Floor.
A new three-storey glass atrium will connect the
heritage and new buildings.
Up to 700 additional ongoing roles, including front
and back of house roles, will be required to operate
the new development. Recruitment for some roles
has already commenced and will continue through
to mid-2021.
The South Australian Government’s broader
review of gambling regulation in South Australia
was completed over the last financial year and,
on 12 December 2019, State Parliament passed
legislation to significantly reform the regulation
of gambling in South Australia. As part of these
reforms, SkyCity Adelaide will be permitted to
introduce ticket-in ticket-out (TITO) technology on
the main gaming floor and banknote acceptors.
To implement the reforms, amendments will need
to be made to the regulations under each of the
gambling acts, changes made to the Advertising
and Responsible Gambling Codes of Practice,
and new gambling administration guidelines
and community impact assessment guidelines
developed. Consumer and Business Services will
also need to update its systems and operations
in support of these reforms and is aiming to
commence all of the reforms by the end of 2020.
SkyCity Adelaide can commence operating TITO
on the main gaming floor and banknote acceptors
from October 2020.
FY20 PERFORMANCE
SkyCity Adelaide achieved progressive improvement
in performance during FY20 prior to the disruption
from COVID-19, with stable local gaming activity to
29 February 2020, casino visitation up slightly from
the prior comparable period and a three-year high
in gaming machine market share (8%) achieved in
December 2019.
SkyCity Adelaide was closed for the duration of
4Q20 due to the South Australian Government’s
COVID-19 restrictions, with the majority of staff
being stood-down over the period. The property
experienced minimal International Business activity
during 2H20 due to international travel restrictions.
required to operate the new development in full operation
A
$
330 million
700 new positions
Investment of
Up to an additional
SKYCITY ADELAIDE EXPANSION
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
38

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~60 staff
FY20 Revenue$9.9 million (reported)
$11.1 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.
Whilst the larger SkyCity Queenstown property
reopened on 14 May 2020 following the
announcement by the New Zealand Government
that New Zealand would move to COVID-19 Alert
Level 2 from 11.59pm on 13 May 2020, the smaller
SkyCity Wharf property has remained closed
since initially closing on 23 March 2020 (when the
New Zealand Government announced that the
COVID-19 Alert Level had increased to Alert Level 3
and its intention to move to Level 4 within the
next 48 hours) as the ongoing border restrictions
continue to have a detrimental effect on the local
Queenstown economy in particular, which is largely
dependent on tourism.
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 with the intention
of using that land to develop a 5-star hotel to
complement its existing entertainment facilities
in Queenstown and further attract international
visitors to Queenstown.
GENERAL
39
About SkyCity

However, the COVID-19 pandemic and its impacts
on the Queenstown economy in particular have
caused the company to review its strategy in
Queenstown. SkyCity continues to explore its
options to create an improved VIP/premium facility,
including investigating the regulatory framework to
achieve any proposed development.
FY20 PERFORMANCE
The impact of COVID-19 on international visitors
to Queenstown during 2H20 offset strong local
gaming performance in 1H20. The property
experienced minimal International Business activity
during 2H20 due to international travel restrictions.
As noted above, SkyCity Wharf closed on
23 March 2020 and remains closed pending review
and consideration of all available options.
SkyCity Queenstown achieved positive gaming
machine performance post reopening in
mid-May 2020.
SkyCity Queenstown
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
40

International Business
General Manager
Stewart Neish
Group General Manager – International Business
FacilitiesPremium gaming facilities at SkyCity Auckland,
SkyCity Adelaide and SkyCity Queenstown
FY20 Revenue$38.0 million (reported)
$78.9 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 VIP
gaming salons in The Grand by SkyCity and
1,800sqm of luxury high-end gaming space above
the SkyCity Hotel.
Located above the SkyCity Hotel, the Horizon Suites
and salons were rebranded the ‘International
by SkyCity’ salons and upgraded as part of a
$6 million refurbishment in 2020 – featuring four
luxurious gaming salons for exclusive use and four
private accommodation suites. 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.
The refurbished International by SkyCity salons in Auckland.
GENERAL
41
About SkyCity

The refurbished International by SkyCity salons in Auckland.
As part of the A$330 million SkyCity Adelaide
expansion project due to open before the end of
2020, SkyCity is constructing additional VIP luxury
gaming facilities to complement the existing
premium gaming salon opened in Adelaide in 2015.
Given expected ongoing international border
restrictions as a result of the COVID-19 pandemic,
the new facilities will initially cater for local and
interstate customers.
Despite the impacts of COVID-19, 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, good connectivity and the new
VIP luxury gaming facilities at SkyCity Adelaide.
SkyCity remains committed to International
Business and expects it to recover once
international border restrictions are eased/lifted.
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 over the
long term.
FY20 PERFORMANCE
International Business achieved significantly
weaker volumes and normalised earnings in FY20
versus a record prior comparable period due to the
impact of COVID-19 on visitation from Asia from
January 2020, and the closure of international
borders from late March 2020.
The ongoing fixed operating costs required
to support the business, despite no revenue
generation, in 4Q20 negatively impacted margins
in addition to lower volumes in 1H20. FY20 reported
EBITDA was slightly above the prior comparable
period due to a higher win rate (1.47% vs 1.00%)
offsetting lower turnover over the period.
Whilst SkyCity maintains a conservative approach
to credit, there was an increase in the provision for
bad and doubtful debts in International Business in
FY20 due to COVID-19 related payment issues.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
42

Online
General Manager
Steve Salmon, Online Director
FacilitiesOnline casino
FY20 Revenue$4.5 million (reported)
$4.5 million (normalised)
Launched in August 2019, SkyCity Online Casino
provides New Zealanders with an offshore online
casino platform, featuring over 1,300 online games.
SkyCity Online Casino is operated out of Malta by
international iGaming company Gaming Innovation
Group Inc (GiG) on behalf of SkyCity Malta Limited,
an independently operated subsidiary of the
SkyCity Entertainment Group, and managed by an
Online Director based in Europe.
GiG provides a full-suite online casino solution,
including a technical platform, gaming content,
managed services and front-end development.
Whilst a regulated online gaming market remains
the preferred solution in New Zealand, the
launch of SkyCity Online Casino is another step
on SkyCity’s journey of pursuing opportunities to
grow and diversify its earnings, accessing a fast
growing industry that is highly complementary to
its land-based activities and offering customers a
multi-channel gaming experience. SkyCity remains
supportive of regulating the New Zealand online
casino market, including introducing an appropriate
licensing regime for operators and imposing taxes
and mandatory host responsibility requirements.
FY20 PERFORMANCE
SkyCity Online Casino experienced strong growth
in customer registrations, first-time depositors
and gaming revenue during the period, despite
operational constraints.
During the COVID-19 mandated closure of
SkyCity’s land-based New Zealand casinos from
23 March – 14 May 2020, SkyCity Online Casino
saw significant growth in its customer base with
around 15,000 new customer registrations over the
period. As at 30 June 2020, there were over 25,000
customer registrations and, as at 31 August 2020,
there were over 35,000 customer registrations.
SkyCity Online Casino has been profitable every
month from April 2020 with margins in-line with
expectations. There has been a slight reduction
in gaming revenue following the reopening of
the New Zealand properties, but an increase in
activity during the second closure in Auckland in
August 2020. Overall, we expect SkyCity Online
Casino to become a more meaningful part of Group
earnings from FY21.
GENERAL
43
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.
Risk Profile and Management
Material ExposureRisk Management
Pandemic Preparedness and
Business Continuity
As with any large, distributed business,
SkyCity must be prepared for a wide range
of events that have the potential to cause
significant disruption and/or temporary
closure of one or more of its sites.
The COVID-19 pandemic and related actions
taken in response by the New Zealand,
Australian and other Governments
(including national lockdowns and border
controls/travel restrictions) and the effects
of the pandemic on global and domestic
economies have had, and are likely to
continue to have, a material adverse effect
on SkyCity, its financial performance and
outlook, liquidity and/or share price.

To mitigate this risk, SkyCity maintains a comprehensive
business continuity framework, which supports
preparedness and response to a wide range of critical
events, including a natural disaster, a fire, an emergency
incident and a pandemic.
The business continuity framework is subject to ongoing:
• monitoring to ensure management readiness and
capability, including undertaking simulated crisis
response drills on a regular basis to test management
readiness and capability; and
• improvement to enhance resilience.
Due to the strength of the business continuity framework,
the SkyCity Board and management worked well in
responding to and managing two significant challenges
over the past financial year which materially impacted
SkyCity’s business and operations – the fire that broke
out at the New Zealand International Convention Centre
in October 2019 and the impacts of the global COVID-19
pandemic that emerged in early 2020.
GENERAL
45

Material ExposureRisk Management
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.
There may also be increased focus on
regulatory oversight of land-based casino
operators and on SkyCity’s social licence
to operate following COVID-19 (including
in respect of host responsibility and
anti-money laundering obligations).
Any such additional focus may add
increased complexity to the business and
adversely impact SkyCity’s operations
and the costs of operating its business.
In addition, there is ongoing pressure to
keep improving SkyCity’s standards.
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.
SkyCity also maintains a robust compliance culture and
framework to ensure compliance with licence conditions
and applicable legislation and regulations.
The Audit and Risk Committee has responsibility for
ensuring compliance with anti-money laundering
requirements in New Zealand and Australia and discusses,
as a standing agenda item at each scheduled Audit and
Risk Committee meeting, matters relating to the Group’s
anti-money laundering obligations. The Group General
Manager Regulatory Affairs and Anti-Money Laundering
also attends each Audit and Risk Committee meeting
to report to the Audit and Risk Committee on matters
of interest. Within the business, a specialist Anti-Money
Laundering team oversees the Group’s ongoing compliance
with anti-money laundering requirements and, during
the past financial year, a management-led Anti-Money
Laundering Senior Management Group (chaired by the
General Counsel and Company Secretary) was established
to provide enhanced governance for anti-money laundering
related matters across the Group.
The Sustainability Committee is responsible for overseeing
and monitoring the company’s host responsibility and
responsible gambling programme and initiatives and
monitoring licensing and regulatory compliance in
respect of such matters. At each scheduled Sustainability
Committee meeting, progress against host responsibility
and responsible gambling measures and targets is reported
and discussed as a standing agenda item. Within the
business, a Host Responsibility Governance Group (chaired
by the Chief Operating Officer) meets monthly to discuss
and review host responsibility matters that have arisen or
may arise in the future across the SkyCity Group.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
46

Material ExposureRisk Management
Liquidity and Solvency Risk
SkyCity’s ability to achieve its business
objectives is dependent on it being
able to effectively manage its liquidity
and solvency throughout a period of no
and/or significantly diminished revenue
and earnings.
There is significant complexity related to
managing those matters, including as
a consequence of a number of matters
being outside of SkyCity's control.
Such unexpected matters could result
in SkyCity's financial position and future
performance being adversely impacted.
SkyCity’s ability to demonstrate fiscal
resilience during these times is critical
to maintaining long term investor and
regulatory confidence.
SkyCity manages liquidity risk by continuously monitoring
forecast and actual cash flows and maintaining flexibility in
funding by keeping committed credit lines available with a
variety of counterparties and maturities.
SkyCity also maintains close and transparent relationships
with its lenders (including banks and United States private
placement noteholders).
In June 2020, SkyCity announced a comprehensive
funding plan to strengthen its balance sheet and secure
additional liquidity in response to the uncertainty around
the impacts of COVID-19. The funding plan was successfully
implemented in June and July 2020 and ensures SkyCity
has an appropriate level of equity capital for the medium
to long term and sufficient liquidity to fund its committed
investment in its two major projects in Auckland
and Adelaide.
Given the cautious economic outlook and that significant
risk and uncertainty still exists around COVID-19,
SkyCity continues to adopt a conservative approach to
capital management.
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 SkyCity 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.
SkyCity has an excellent history of compliance over 20 years
and is committed to working cooperatively with its
regulators on matters of concern.
GENERAL
47
Risk Profile and Management

Material ExposureRisk Management
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.
In August 2019, SkyCity launched SkyCity Online Casino,
an offshore online gaming business, via a Maltese subsidiary
company as a logical extension of its land-based casino
operations. Whilst the business is still very much in its
infancy, SkyCity is encouraged by SkyCity Online Casino’s
performance over the past financial year.
In July 2019, SkyCity acquired full ownership of Let’s Play
Live Media Limited, New Zealand’s leading broadcaster and
operator of esports tournaments.
New forms of entertainment are also set to open at
SkyCity Auckland before the end of 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; 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. However, in light of the
COVID-19 pandemic, it is unlikely that any significant
funding commitments will be made in the short term until
there is greater certainty that the COVID-19 crisis no longer
poses a threat.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
48

Material ExposureRisk Management
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.
SkyCity’s operations are dependent on
a number of key systems. There is a risk
that the security of critical systems may
be compromised and/or information is
accessed without authorisation, deleted or
corrupted, which could impact SkyCity’s
ability to operate critical systems and
result in costs to resolve or repair, potential
downtime of operations, potential breaches
of privacy and/or reputational impacts.
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.
A management-led Privacy and Cybersecurity Steering
Committee has been established to, amongst other things:
• govern the development of SkyCity’s privacy and
cybersecurity strategy and programme;
• prioritise mitigation initiatives against the cybersecurity
risk matrix;
• prioritise the operational initiatives to lift SkyCity’s
security posture; and
• review and respond to major cyber and privacy incidents
and oversee the proposed measures to prevent recurrence.
Penetration testing is undertaken regularly to test system
resilience and identify any security vulnerabilities that could
be exploited. Simulated phishing emails are also regularly
sent within the organisation to raise security awareness
amongst employees.
Development and Project Risk
(including Return from Major Projects)
With two significant growth projects
underway, the New Zealand International
Convention Centre and Horizon Hotel
development in Auckland and the
SkyCity Adelaide 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
SkyCity Adelaide expansion project.
SkyCity also ensures robust governance over capital
allocation and shareholder returns.
The COVID-19 pandemic has significant implications for
return on capital invested in major projects. For example,
the ongoing closure of international borders over the short
to medium term is expected to impact visitation and
occupancy for the SkyCity Adelaide expansion project.
GENERAL
49
Risk Profile and Management

Material ExposureRisk Management
Health and Safety Risk
SkyCity has Health and Safety Risk
Registers in place that classify 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 and trips, cuts and manual task
related injuries.
General
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.
Significant Emergencies
There were two significant emergencies during the financial
year ended 30 June 2020 which required a significant
health and safety response and tested SkyCity’s emergency
preparedness.
The fire at the New Zealand International Convention Centre
development in October 2019 caused significant disruption
to the Auckland CBD. Whilst the fire did not occur directly
within the SkyCity Auckland main site, the smoke emitted
from the fire entered SkyCity Auckland’s premises and
systems and necessitated an extensive clean-up operation
across the SkyCity Auckland precinct. The SkyCity Health
and Safety team partnered with occupational hygienists and
professional maintenance and cleaning services to facilitate a
safe reopening.
SkyCity is committed to delivering robust health and
safety standards to manage the ongoing risks associated
with COVID-19 and has developed and implemented a
COVID-19 Health Management Framework for its business
operations. The framework has been shared with Government
authorities across New Zealand and South Australia.
SkyCity’s New Zealand properties were amongst the first
casino operations in the world to reopen during the global
pandemic with robust health management strategies in place.
Both New Zealand and Australia have achieved relative
success in ensuring a low level of infection and mortality
compared to many other countries around the world.
However, the ongoing health and safety risks of COVID-19 have
significantly altered the commercial landscape for SkyCity's
land-based properties in both jurisdictions.
Given the nature of SkyCity’s operations, SkyCity does not have a material exposure to environmental risks
in its usual day-to-day operations. SkyCity nonetheless recognises the criticality of climate related risks to its
operations. Further details on these risks and SkyCity's approach to climate change risk management and
reporting are outlined on page 117 of this annual report.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
50

Our COVID-19 Health Management
Framework
The health of SkyCity’s employees, contractors, visitors and guests is paramount.
Our COVID-19 Health Management Framework outlines a comprehensive strategy for
managing risks associated with COVID-19.
Operational Control Standard
Our standard outlines our mandatory risk controls, which have been developed
based on guidance from the relevant health authorities in Australia and New Zealand:
Entry
requirements
Guest and employee
screening
Hand hygiene
Physical
distancing
Education and
information
Cleaning
Contact tracing
COVID-19 Risk Register
We have taken a risk based approach – analysing our business activities and putting in
place controls that are reasonably practicable. We will continue to review and seek
continuous improvement in our controls.
Operational
Control Procedures
Focused on the
workplace specific
requirements
for gaming
areas across our
precincts.
COVID-19 Safety
Plans
Focused on
re-entry risks to
ensure our people
are safe when
returning to work
after periods of
absence.
COVID-19
Resourcing
Ensuring we
have the right
levels of health
and safety advice
and equipment
supported by a
team of health
professionals.
COVID-19
Assurance
Focused on
reviewing the
implemented
mandatory controls
to ensure we have
the best levels of
implementation.
GENERAL
51
Risk Profile and Management

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,
Ultrafast Fibre Limited, New Zealand Rural Land
Company Limited, Ara Ake Limited and WEL
Networks Limited and a director of Precinct
Properties New Zealand 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 Sustainability 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), Aventus Capital Limited, the COVID-19
Business Advisory Committee and Scissor Holdings
Pty Ltd trading as One Rail Australia, and a director
of AIG Australia Limited, Bank of Queensland
Limited 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
53

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,
Brannigans Consulting Limited, Rubix Limited,
Soltians Limited, Jade Software Corporation Limited
and Zag 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 was awarded 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.
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 has more than 30 years’ experience
in the areas of accountancy, audit, finance, treasury
and equities research. She has specific specialist
knowledge of the New Zealand and Australian
gaming and entertainment sectors through her
previous 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 focusing
on the tourism/leisure sector, and a wide network
within the gaming industry and has a strong
understanding of industry and investor issues.
Jennifer is currently a Principal of Owen Gaming
Research, an independent research firm specialising
in the gaming and wagering markets, and a director
of Aspire Child Care (Mascot) Pty Limited.
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.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
54

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, Metcash Limited, Stevenson Group Limited,
Southern Cross Benefits Limited, Southern Cross
Hospitals Limited and the Southern Cross Medical
Care Society. He is also a trustee of Southern Cross
Health Trust, 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
55
Our Board

Our Senior Leadership Team
From left to right:
Simon Jamieson, Jo Wong, Rob Hamilton and Glen McLatchie
56

From left to right:
Graeme Stephens, Liza McNally, Michael Ahearne and Claire Walker
GENERAL
57

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.
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 (now Jarden), where he led
the investment banking team. He is currently a
non-executive director of Tourism Holdings Limited,
on the Board of Trustees for Auckland Grammar
School and a trustee of the SkyCity Auckland
Community Trust.
Rob was a finalist in the Chief Financial Officer
of the Year category in the 2019 Deloitte Top 200
Awards in New Zealand.
Rob holds Bachelor degrees in Commerce
and Science.
MICHAEL AHEARNE
Chief Operating Officer
Michael joined SkyCity in December 2017 as
Chief Operating Officer and is responsible for
overseeing the operations and driving value across
SkyCity’s five properties in New Zealand and
Australia. He is also responsible for SkyCity’s online
gaming strategy, including the establishment of
SkyCity Online Casino in 2019.
Michael has significant global experience in the
gaming industry across both land-based and online
casinos, as well as retail and online sports betting.
Prior to joining SkyCity, Michael held a number
of senior commercial, 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 – 10 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.
CLAIRE WALKER
Chief People and Culture Officer
Claire was appointed in August 2016, bringing
more than 20 years’ experience in human resource
management gained across a number of different
sectors, and holds the position of Chief People and
Culture Officer. She is responsible for leading the
development and implementation of best practice
people and culture strategy across the SkyCity Group
and 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.
Claire holds a governance role on the advisory board
of the Sustainable Business Council in New Zealand.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
58

JO WONG
General Counsel and Company Secretary
Jo joined SkyCity as Senior Legal Counsel
in January 2009 and was appointed as
General Counsel and Company Secretary in
September 2016. She is responsible for SkyCity’s
legal, company secretarial, regulatory affairs and
anti-money laundering functions and is designated
as SkyCity’s Chief Privacy Officer.
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 was a finalist in the In-House Lawyer of the Year
category in the 2019 New Zealand Law Awards and
was recognised in New Zealand Lawyer’s inaugural
In-House Leaders 2019 list as one of 25 leading
lawyers across 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 SkyCity Adelaide, 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 and has 25 years of marketing
expertise working in Australia and New Zealand.
In addition to managing Group Communications,
Liza is responsible for championing the digital
customer experience across the SkyCity Group.
Liza’s background includes senior marketing
and sales positions within media, entertainment
and telecommunications organisations. Prior to
joining SkyCity, Liza was Chief Marketing Officer at
New Zealand Media & Entertainment (NZME).
Liza is currently a non-executive director of AFL
New Zealand and a trustee of the Auckland Farmers
Santa Parade. Liza holds a Bachelor of Commerce
(Hons Marketing) from Deakin University, Australia.
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 is a board member of Auckland charity
Big Brothers Big Sisters and an advisory board
member of Cyber Research NZ. Glen holds a Master
of Information Systems from Swinburne University
of Technology, Australia, and a Bachelor of Business
Studies from Massey University, New Zealand.
GENERAL
59
Our Senior Leadership Team

BOARD AND SENIOR LEADERSHIP TEAM ORGANISATIONAL CHART
SkyCity is committed to maintaining the highest standards of corporate behaviour and responsibility and
has adopted governance policies and procedures reflecting this. Our corporate governance framework
ensures Board accountability to shareholders and provides for an appropriate delegation of responsibilities
to the Chief Executive Officer and Senior Leadership Team.
The SkyCity Board has responsibility for the affairs and activities of the company, which in practice is
achieved through delegation to the Chief Executive Officer and Senior Leadership Team who are charged
with the day-to-day leadership and management of the company.
Further information on SkyCity’s corporate governance framework is set out on pages 123–133 of this annual
report. SkyCity’s constitution and relevant charters and policies are available in the Governance section of
the company’s website at www.skycityentertainmentgroup.com.
General
Manager
NZICC
Simon Jamieson
Chief
Information
Officer
Glen McLatchie
Chief
Marketing
Officer
Liza McNally
Chief
Financial
Officer
Rob Hamilton
Chief
Operating
Officer
Michael Ahearne
Chief People
and Culture
Officer
Claire Walker
General Counsel
and Company
Secretary
Jo Wong
Governance
and
Nominations
Committee
Host
Responsibility
Governance
Group
STANDING BOARD COMMITTEES
KEY MANAGEMENT-LED GOVERNANCE GROUPS AND COMMITTEES
SENIOR LEADERSHIP TEAM
AD-HOC BOARD SUB-COMMITTEES
(established to oversee SkyCity’s major projects)
Audit and Risk
Committee
Anti-Money
Laundering
Senior
Management
Group
People and
Culture
Committee
Privacy and
Cybersecurity
Steering
Committee
Sustainability
Committee
Project
Investment
Committee
New Zealand
International
Convention Centre
Sub-Committee
Group and
Site Crisis
Committees
Adelaide
Expansion Project
Sub-Committee
Climate Change
Committee
SKYCITY BOARD
CHIEF EXECUTIVE OFFICER
Graeme Stephens
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
60

GENERAL
The BLACK gaming area at SkyCity Auckland is due to open later this year and will provide an
unrivalled VIP offering and experience to our domestic VIP customers.
GENERAL
61

Being a
responsible
corporate
citizen
We are committed to maintaining
the highest levels of sustainability
objectives and practices.

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. 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 initiatives are focused on
doing good for our customers, our employees,
our communities, our suppliers and our
environment. 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. These were
subsequently refined in 2018 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.
In early 2020, we commenced a review of our
materiality matrix to prioritise the issues most
important to our business and stakeholders and
to ensure the issues were appropriately weighted
in our sustainability strategy. From a long list of
potentially material issues identified via a desktop
review, the following issues (grouped under our
existing sustainability pillars) were identified by
internal and external stakeholders as material to
SkyCity’s business:
OUR CUSTOMERS
• Responsible hosting
• Customer experience
• Cybersecurity and data privacy
• Regulatory risk
OUR PEOPLE
• Employee engagement
• Health, safety and wellbeing
• Organisational culture
• Diversity, inclusion and belonging
OUR COMMUNITIES
• Community investment
• Community and Iwi engagement
OUR SUPPLIERS
• Ethical sourcing
OUR ENVIRONMENT
• Climate change
ISSUES IMPACTING
MULTIPLE PILLARS
• Business continuity
• Return on investment
• Theft and fraud
• Operational efficiency
• Sustainable portfolio
SUSTAINABILITY
63

Despite the challenges presented by the COVID-19
global pandemic, SkyCity’s current sustainability
strategy and strategic pillar goals, plans and
priorities (as validated by the feedback from our
stakeholders as part of the materiality review
in 2020) remain relevant today. We have learnt
through the COVID-19 pandemic that we cannot
take for granted that the core business will generate
profit. Recognising that to be a sustainable
business we must be a responsible business actively
protecting and promoting the people we serve
and the places we share whilst creating value for
our shareholders, SkyCity’s sustainability strategy
has this year been amended to also incorporate
financial performance alongside social and
environmental performance.
Our new 'Our Shareholders' pillar recognises that
SkyCity must create value for its shareholders while
maintaining its social licence to operate. The priority
issues relevant to this pillar are business continuity,
improving SkyCity’s operating performance,
optimising SkyCity’s existing portfolio, and growing
and diversifying SkyCity’s business. The objectives
for this pillar are to:
• strengthen and maintain good relationships with
all stakeholders, including shareholders and debt
providers;
• grow gaming visitation and spend and develop
complementary activities that drive gaming;
• achieve operating efficiencies which protect and
grow margins;
• develop digital businesses and leverage
investment in technology;
• ensure capital allocation balances short term
returns and long term sustainability;
• ensure ownership of assets balances strategic
control and return on capital; and
• monitor and evaluate regional merger and
acquisition opportunities in our industry.
We continue to focus on embedding our
sustainability pillars into all levels of the
organisation and in the way SkyCity operates.
The material issues identified have influenced
our focus on managing SkyCity’s risks and
have informed 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 Sustainability 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 Sustainability 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 Sustainability 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 priorities, objectives
and activities for each of the sustainability pillars –
‘Our Customers’, ‘Our People’, ‘Our Communities’,
‘Our Suppliers’ and ‘Our Environment’, 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 2020. Commentary
on the new ‘Our Shareholders’ pillar is provided in
an overarching way throughout the entirety of our
financial and non-financial disclosures.
The areas identified as priority issues are those
considered highly material for SkyCity’s business
and for our stakeholders. Our objectives and
activities 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 or questions in
relation to SkyCity’s sustainability framework
and/or reporting, please contact SkyCity at
sustainability@skycity.co.nz.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
64

Our
Sustainability
Vision
To be a sustainable business, we must be a responsible business
actively protecting and promoting the people we serve and the
places we share, whilst creating value for our shareholders.
Customers
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PEOPLEPLACEPROFIT
Great, safe place to workSustainable successReliable return on investment
Createagreatplacetowork
wherepeopleareempowered
togrowandachieve
Respectandprotectour
physicalenvironmentsfor
futuregenerations
Ensurebusinesscontinuitythrough
operationalefficiency,sustainable
investmentandcustomerfocus
Inspire our peopleProtect our environmentsCreate sustainable value
SUSTAINABILITY
65
Sustainability

Our PrioritiesOur PlanMaterial Issues
Climate change/
emissions reduction
• Measure, report and offset SkyCity’s
carbon emissions
• Climate change
Reducing waste• Reduction of waste and diversion from landfill
Employee activation• Employee-led Green Fund
Reduction in water use • Implement initiatives to reduce water use
ENVIRONMENT | Be responsible leaders in our communities
Offer a great and safe place to work
Active commitment to reducing our environmental footprint
Sustainable
Development Goals
Our Priorities Our PlanMaterial Issues
Low carbon
supply chain
• Encourage suppliers to set science-based targets and strive
to achieve zero carbon by 2050
• Ethical sourcing
Buy local
and seasonal
• Serve meals from a sustainable supply chain
to employees and customers
• Source animal products responsibly (eg. free range eggs)
• Track and report on local vs international
procurement spend
• Support supplier diversity (indigenous economy)
and working conditions
Connect to the
circular economy
• Remove single-use plastics from our supply chain
Progress initiatives to
eliminate modern slavery
• In accordance with the Modern Slavery Act 2019 (Cth),
develop a modern slavery statement by 31 December 2020
Ethical supply chain
• Progressively work towards an end-to-end understanding
of our supply chain, ensuring that all suppliers meet the
standards of our Ethical Sourcing Code
SUPPLIERS | Be responsible leaders in our communities
Source ethically and locally
Sustainable
Development Goals
Our Priorities Our PlanMaterial Issues
Leading host
responsibility
• Maintain industry-leading harm minimisation practices
• Host Responsibility Programme performance and problem
gambling indicators
• Industry benchmarking of SkyCity’s Host Responsibility
Programmes
• Leverage technology to enhance the identification of actual
or potential problem gamblers and act on that information
• Responsible hosting
• Customer experience
• Cybersecurity and
data privacy
• Regulatory risk
Customer experience
and engagement
• Employee Host Responsibility training completion rates
• Accelerate customer experience and engagement through
improved data, digital and loyalty capability
Community awareness
of harm minimisation
practices
• Increase in community knowledge and understanding of
SkyCity’s harm minimisation practices
• Customer data security and privacy practices
CUSTOMERS | Always put customers first | Be responsible leaders in our community
Ensure safe and enjoyable experiences for our customers, employees and communities
Sustainable
Development Goals
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
66

Our Priorities Our PlanMaterial Issues
Economic
contribution
• Measure and evaluate SkyCity’s economic contribution
to the communities in which we operate, through local
procurement spend
• Community investment
• Community and Iwi
engagement
Building communities
by developing people
• In collaboration with the SkyCity Community Trusts, make
a positive impact on youth development, employment and
career paths
Investing in our
communities through the
SkyCity Community Trusts
in New Zealand
• Community based partnerships that achieve sustainable
social change
• Report on community outcomes through narrative and case
studies accompanied by quantitative results
Developing deeper
connections with Iwi and
indigenous peoples
• Build SkyCity’s confidence and capability to engage
authentically with Māori and indigenous peoples
COMMUNITY | Be responsible leaders in our communities
Serve a social purpose by investing in our local economies and communities
PEOPLE | Offer a great and safe place to work
A great place to work where our people are empowered to grow and achieve
Our Priorities Our PlanMaterial Issues
Employee engagement• Employee engagement pulse checks
• Employee engagement
• Meaningful career and
development pathways
• Diversity, inclusion
and belonging
• Health, safety and wellbeing
Meaningful career and
development pathways
• Internal promotions and development opportunities
Diversity, inclusion
and belonging
• Leverage the competitive advantage SkyCity’s diverse
workforce provides
• Ethnicity and gender reporting, including gender equality
of pay, and representation
Health, safety and
wellbeing
• Health, safety and wellbeing scorecards
SHAREHOLDERS | Improve our operating performance | Optimise our
existing portfolio | Grow and diversify our business | Always put customers first
Create value and maintain our social licence to operate
Our Priorities Our PlanMaterial Issues
Business continuity
• Strengthen and maintain good relationships with all
stakeholders, including shareholders and debt providers
• Business continuity
• Return on investment
• Operational efficiency
• Sustainable portfolio
• Regulatory risk
Improve operating
performance
• Grow gaming visitation and spend and develop
complementary activities that drive gaming
Optimise existing portfolio
• Achieve operating efficiencies which protect and
grow margins
Grow and diversify
our business
• Develop digital businesses and leverage investment
in technology
• Capital allocation balances short term returns and
long term sustainability
• Ownership of assets balances strategic control and return
on capital
• Monitor and evaluate regional merger and acquisition
opportunities in our industry
Sustainable
Development Goals
Sustainable
Development Goals
SUSTAINABILITY
67
Sustainability

Be responsible
hosts
Ensure safe and enjoyable
experiences for our customers,
employees and communities.

At our core, SkyCity is a provider of casino
entertainment. The promotion of responsible
gaming and safe consumption of alcohol are
therefore topics at the heart of our business.
We take our responsibilities to minimise risk and
harm from problem gambling very seriously.
Our Customers
Priority Issues
• Leading host responsibility
• Customer experience and
engagement
• Community awareness of harm
minimisation practices
Key Stakeholders
• Customers (existing and potential)
• Department of Internal Affairs
• Gambling Commission
• Office of Liquor and
Gambling Commissioner
• Consumer and Business Services
• Government Ministers, agencies
and officials, including the
Ministry of Health
• Treatment service providers and
public health providers, including
Asian Family Services, Problem
Gambling Foundation, Salvation
Army, Raukura Hauora o Tainui
and Hāpai Te Hauora
• Australasian Gaming Council
• Police
• Local councils
FY20 Performance Highlights
• Deployed facial recognition technology across all SkyCity’s
land-based casinos to assist in identifying excluded customers
• Commenced operation of a predictive algorithm risk model at
the SkyCity Hamilton casino to assist in identifying players who
may be at risk from gambling harm by analysing loyalty data
• Implemented ‘Live View’ system technology at the
SkyCity Auckland and SkyCity Hamilton casinos to assist in
identifying continuous play on electronic gaming machines
• Increased host responsibility training for SkyCity Auckland
Customer Service Ambassadors – a front line customer service
team whose role is to engage and build rapport with customers
with an emphasis on host responsibility
• The SkyCity Auckland and SkyCity Hamilton casinos
participated in Gambling Harm Awareness Week in
New Zealand – with treatment and public health stakeholders
stationed within the casino environs to create awareness of
problem gambling and access to support and treatment
networks
FY20 Key Challenges
• Remains challenging to identify and prevent excluded persons
from re-entering and remaining within our land-based casinos
• Maintaining effectiveness, relevancy and consistency in harm
minimisation best practice is an ongoing challenge
• Alignment of 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
FY21 Focus Areas
• Review and refresh the delivery of host responsibility training to
staff, including development of a new coaching and education
programme for front line staff to improve capability around
identifying uncarded and excluded players
• Maintain leading and best practice host responsibility by
leveraging available technology solutions
• Increase and upweight host responsibility team/resourcing
69

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.
This section largely focuses on SkyCity’s approach
to host responsibility across its land-based casinos.
Due to limitations in the New Zealand Gambling
Act 2003, SkyCity launched its online gaming site,
SkyCity Online Casino, offshore in August 2019 via
its Maltese subsidiary, SkyCity Malta Limited, in
partnership with international iGaming company
Gaming Innovation Group Inc (GiG). GiG provides
a full-suite online casino solution, which includes
a technical platform, gaming content, managed
services, front-end development and best-in-class
host responsibility procedures. SkyCity Malta
Limited has tailored the host responsibility tools
available from its offshore platform to align
wherever possible with SkyCity’s land-based
practices and, in some cases, has developed
new processes specifically applicable to the
New Zealand market such as the casino age
restriction and contact information for support
services. Further details of SkyCity Online Casino’s
host responsibility practices are available at
www.skycityentertainmentgroup.com/
our-commitment/responsible-gambling
for all customers and staff.
Commitment to Host Responsibility
At SkyCity, we place great importance on
host responsibility throughout every part of
the organisation.
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 Sustainability Committee is responsible for
overseeing and monitoring the company’s host
responsibility and responsible gambling programme
and initiatives and monitoring licensing and
regulatory compliance in respect of such matters.
At each scheduled Sustainability Committee
meeting, progress against host responsibility and
responsible gambling measures and targets is
reported and discussed as a standing agenda item.
Within the business, a Host Responsibility
Governance Group meets monthly to discuss and
review host responsibility matters that have arisen
or may arise in the future across the SkyCity Group.
Membership of the Governance Group includes
the Chief Operating Officer, General Counsel and
Company Secretary, Group Regulatory Manager,
Group Risk Manager, the General Managers for
Auckland, Hamilton, Queenstown and Adelaide, and
Host Responsibility representatives. The principal
objectives of the Governance Group are to:
• provide collective guidance to SkyCity
management on host responsibility matters
of interest;
• enable senior management to discuss any
relevant topics and to receive advice, support and
ongoing learnings in a confidential environment;
• expose senior management personnel to host
responsibility topics that may have bearing
or impact on SkyCity’s regulatory environs,
customers, their site/jurisdiction of operation or
its employees; and
• develop initiatives that will collectively benefit
SkyCity customers and shareholders by way
of discussion, provision or endorsement
of responsible gambling and/or harm
prevention components.
Our challenge is to ensure
that our business provides
entertaining and profitable,
yet safe and responsible,
experiences and environments
SkyCity Entertainment Group Annual Report Year Ended 30 June 2020
70