2021 ANNUAL REPORT

Annual Report
Year ended 30 June 2021
2021

ANNUAL MEETING
The 2021 SkyCity Annual Meeting will be held virtually via an online platform on 29 October 2021
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
Report from the Chair and
Chief Executive Officer 4
About this Annual Report 9
Year in Review 10
Managing the Impacts of COVID-19 12
Creating Value 16
Performance 20
An Award-Winning Business 22
Diversity Snapshot 24
Group Strategy 26
About SkyCity 34
Auckland 36
Adelaide 40
Hamilton 44
Queenstown 45
International Business 46
Online 47
Our Values 48
Refreshing Our Brand 49
Risk Profile and Management 50
Our Board 60
Our Senior Leadership Team 64

SUSTAINABILITY
Sustainability 70
Our Customers 78
Our People 88
Our Communities 102
Our Suppliers 108
Our Environment 116
Independent Limited Assurance Statement 126
CORPORATE GOVERNANCE STATEMENT
AND OTHER DISCLOSURES
Corporate Governance Statement 128
Remuneration Report 138
Shareholder and Bondholder Information 150
Directors’ Disclosures 153
Company Disclosures 155
FINANCIAL STATEMENTS
Independent Auditor’s Report 159
Income Statement 166
Statement of Comprehensive Income 167
Balance Sheet 168
Statement of Changes in Equity 170
Statement of Cash Flows 171
Notes to the Financial Statements 172
Index to the Notes to the
Financial Statements 218
RECONCILIATION OF NORMALISED
RESULTS TO REPORTED RESULTS 219
GRI CONTENT INDEX 223
GLOSSARY 227
DIRECTORY 228
Contents

Report from the
Chair and Chief
Executive Officer
The 2021 financial year was a challenging one for
SkyCity – responding to external events arising from
the COVID-19 pandemic, opening the Adelaide
expansion in an uncertain environment and running
the business in a volatile operating and regulatory
landscape. It has taken significant skill, energy
and dedication from our team and support from
stakeholders to deliver a satisfactory performance
for the business.
Despite the ongoing disruption and volatility,
SkyCity has maintained a strong financial position
over the period, delivered credible operating
performance when open and protected the health
and wellbeing of our people.
The SkyCity Board and management have
considered the regulatory and governance
environment in which the Group now operates.
The Board’s intention, endorsed by management,
is that SkyCity will maintain a casino and
entertainment business which is characterised by
high levels of:
• service and facility quality;
• customer enjoyment and safety;
• staff safety, inclusion, diversity and satisfaction;
• social and environmental responsibility;
• economic performance and investment returns;
and
• ethical conduct in all respects.
Critically, the SkyCity Board and management
team recognise the importance of protecting our
casino licences and enhancing our social licence to
operate. Moreover, maintaining a strong balance
sheet, meeting the interests of all stakeholders and
keeping a disciplined allocation of capital to provide
appropriate risk-adjusted returns to shareholders
over the long term remain key priorities.
The key features of the year can be summarised as:
Management and Board
• The appointment of Michael Ahearne as the
new Chief Executive Officer in November
2020 following an internal succession process
(replacing the outgoing Chief Executive Officer,
Graeme Stephens). Michael brings strong
operational knowledge of the SkyCity business, as
well as international gaming and entertainment
experience, to the role and has put in place a
refreshed Senior Leadership Team.
• The retirement of Bruce Carter from the SkyCity
Board in March 2021.
• The renewal of the SkyCity Board was confirmed
during March 2021 with the subsequent
appointment of three new directors –
Silvana Schenone, Julian Cook and Chad Barton
– in June 2021. The new directors bring diverse
skills, backgrounds and experience to the Board.
The Board will be conducting a thorough review
of its effectiveness during the 2022 financial year.
Impact of COVID-19
• COVID-19 continued to significantly impact
the business and operations at each
of SkyCity’s properties over the period.
Government mandated lockdowns in
New Zealand and South Australia resulted in
the closure of SkyCity Auckland for 29 days and
SkyCity Adelaide for 3.5 days. When permitted to
reopen, the properties initially operated under
significant constraints due to restrictions on mass
gatherings and physical distancing requirements.
• The Trans-Tasman border between New Zealand
and Australia reopened from 19 April 2021
(although subject to restrictions as pandemic
outbreaks have occurred) – however, the broader
international borders remain closed, significantly
impacting our tourism-related businesses.
Strategy and Major Projects
• A refreshed Group strategy was announced at
the time of our interim results in February 2021.
Our strategic plan prioritises a focus on our
core business, executing our major projects
in Adelaide and Auckland, delivering on the
omnichannel opportunity and the efficient
allocation of capital.
• In December 2020, SkyCity completed its
A$330 million expansion of the SkyCity Adelaide
property transforming it into an integrated resort
of international scale and quality. The project
(including Eos by SkyCity, a new 120-room
boutique hotel, and new gaming, hospitality
and entertainment areas) was completed
on-time and on-budget and has been well
received by customers with consistent operating
performance when open.
• Ongoing delays continue to the New Zealand
International Convention Centre (NZICC) and
Horizon Hotel project, exacerbated by the fire in
October 2019 and COVID-19. SkyCity continues
to work closely with Fletcher Construction
on the project and has secured an extension
to the long stop date to complete the NZICC
to 15 December 2027 with the New Zealand
Government. Although Fletcher Construction’s
latest draft programme indicates completion
of the NZICC in late 2024, SkyCity considers
it prudent to retain a buffer between the
programme and the long stop date.
GENERAL
5
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
4
Report from the Chair and Chief Executive Officer

• SkyCity Auckland opened new food and beverage
facilities on the main gaming floor, improved VIP
gaming facilities on Levels 8 and 9 of the main
site and welcomed the arrival of the All Blacks
Experience and Weta Workshop Unleashed, two
world-class attractions, to the precinct.
• A strategic review into the International
Business division was undertaken during April
2021. SkyCity has decided to permanently cease
dealing with junket operators, but to continue
to operate the division under a revised operating
model where SkyCity will deal directly with
patrons after appropriate know your customer
(KYC) and customer financial due diligence
requirements are satisfied.
Regulatory and Compliance
• Steady progress was made with initiatives
to enhance SkyCity’s host responsibility
and anti-money laundering (AML) control
frameworks. Minimising harm to customers
remains a key focus with appropriate effort,
resource and capital allocated to support this
initiative, such as increased resourcing and
investment in bespoke ICT systems (including
facial recognition technology and specialised
customer screening tools). SkyCity is committed
to ensuring that it provides safe and responsible
experiences and environments and places
significant importance on its host responsibility
and AML obligations.
• In June 2021, SkyCity was informed by the
Australian Transaction Reports and Analysis
Centre (AUSTRAC) that it had identified potential
serious non-compliance by SkyCity Adelaide with
the Australian AML legislation and that a formal
enforcement investigation into the compliance
of SkyCity Adelaide had been initiated.
The SkyCity Board and management team
take the concerns raised by AUSTRAC seriously
and have taken immediate steps to investigate
and appropriately address the concerns raised.
SkyCity will continue to fully cooperate with
AUSTRAC with regards to its inquiries and with
the investigation of SkyCity Adelaide.
Financial Performance, Balance Sheet
and Distributions
• Group reported EBITDA and NPAT were
$317.3 million and $156.1 million respectively,
down from the prior comparable period due
to the ongoing impact of the New Zealand
International Convention Centre fire and the
gain from the sale of the Auckland car park
concession .
• Group normalised EBITDA and NPAT of
$252.0 million and $90.3 million respectively are
at the top end of the guidance provided to the
market during June 2021, but are still well below
pre COVID-19 earnings in FY19.
• SkyCity’s financial position remains strong
post implementation of our funding plan from
mid-2020. SkyCity has satisfied its financial
covenants for the 30 June 2021 testing period
and will pay a dividend of 7 cents per share
during September 2021.
• SkyCity’s BBB- credit rating from S&P
Global Ratings was upgraded to “Stable”
from “Negative” Outlook during April 2021.
Following the issue of $175 million of six-year,
unsecured, unsubordinated, fixed rate bonds
in New Zealand in May 2021, SkyCity remains
well positioned to fund future capital and
operating commitments.
The financial result for the year was complicated by
property closures and other restrictions imposed by
COVID-19, which limit comparability with the prior
comparable period. SkyCity has also been aided
by Government responses in the form of wage
subsidies and other assistance measures over the
period, a portion of which SkyCity has elected to
repay reflecting improved financial performance.
The Group delivered a solid financial performance,
despite the challenging operating environment.
Local gaming has performed well when open
and operating without restrictions while our
tourism-related businesses, including hotels, food
and beverage and International Business, had a
weaker result primarily due to ongoing international
and domestic (Australia) border closures.
At a property level, SkyCity Auckland delivered
resilient local gaming activity, but this was offset
by non-gaming performance being significantly
impacted by COVID-19. SkyCity Hamilton and
SkyCity Queenstown delivered strong EBITDA
performances led by local gaming revenue growth
combined with disciplined cost management.
SkyCity Adelaide’s performance prior to the
expansion opening was impacted by COVID-19
disruption, but when open has significantly
improved across all activities. SkyCity has been
making operational adjustments to the business
when necessary and we continue to adhere to all
Government guidance to ensure our employees and
customers are managed safely.
SkyCity has continued to operate its offshore
online casino venture, SkyCity Online Casino, with
Gaming Innovation Group Inc, despite operational
constraints. Performance has exceeded our
expectations with significant growth in revenue
and EBITDA and in excess of 45,000 active
customers currently.
SkyCity supports the regulation of online gaming
in New Zealand with an emphasis on strong host
responsibility and delivering community benefits
in New Zealand and we continue to prepare for
a regulated industry which ensures responsible
gambling. Growth in online gambling continues
to be a significant global industry theme with
numerous international jurisdictions regulating
online gambling (or intending to do so) to
safely address the transition from physical to
online entertainment.
SkyCity has continued to create and support a
positive employee culture over the period, focusing
on initiatives to enhance workplace flexibility,
wellbeing and diversity. To this end, SkyCity was
pleased to receive the Diversity and Inclusion
Leadership Award at the 2020 Deloitte Top 200
Awards for the second time in three years for
Project Nikau, an initiative to employ and develop
career pathways for youth with a focus on Māori
and Pasifika. SkyCity has also made progress
on refocusing the SkyCity Community Trusts in
New Zealand on initiatives that will enhance the
employability and advancement of youth and has
upweighted strategies to ensure its supply chain is
ethical and supports local businesses.
In terms of outlook for FY22, given the current
unpredictable operating environment and
uncertain near-term outlook due to COVID-19,
SkyCity is unable to provide detailed earnings
guidance at this time, but this will remain under
regular review. Our performance over the next
year will be underpinned by the ongoing recovery
of local gaming, optimising SkyCity Adelaide post
expansion and robust cost control across
all activities.
We wish to take the opportunity to publicly thank
the SkyCity Board and management team and, in
particular, the broader SkyCity family for effectively
meeting the challenges over the past year and for
continuing to support the business as it recovers
− your efforts are greatly appreciated. The SkyCity
Board and management are aligned in responding
to the challenges at hand, managing the risks
faced by the business and addressing strategic
opportunities as they arise.
Finally, and most importantly, thank you to our
external stakeholders – from our shareholders,
financiers, suppliers, through to our customers.
SkyCity doesn’t exist without you − a big thank
you for your ongoing support.
GENERAL
Rob Campbell
Chair
Michael Ahearne
Chief Executive Officer
7
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
6
Report from the Chair and Chief Executive Officer

The iconic Sky Tower
celebrated its 24th birthday
on 2 August 2021 with a
light show illuminating
the Auckland skyline.
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 2021. Where appropriate, information is also
provided in relation to activities that have occurred
after 30 June 2021, but prior to publication of this
annual report.
This annual report has been prepared in accordance
with the NZX Listing Rules and Corporate
Governance Code, 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 ASX Listing Rules
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 223 – 226 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 219 – 222 of this
annual report.
An electronic copy of this annual report is available
in the Investor Centre section of the company’s
website at www.skycityentertainmentgroup.com.
If you have any feedback and questions in
relation to SkyCity’s sustainability framework
and/or reporting, please contact SkyCity at
sustainability@skycity.co.nz.
Unless otherwise stated, all dollar amounts in this
annual report are expressed in New Zealand dollars.
Certain totals, subtotals and percentages stated in
this annual report may not agree throughout due
to rounding.
This annual report is dated 25 August 2021 and is
signed on behalf of the SkyCity Board by:
GENERAL
About this
Annual Report
Rob Campbell
Chair of the
SkyCity Board
Jennifer Owen
Chair of the Audit
and Risk Committee
9

2020
2021
• SkyCity completes a
$50 million share purchase
plan as part of a $230 million
equity raising announced
in June 2020 to strengthen
SkyCity’s balance sheet in
response to uncertainty around
the impacts of COVID-19
JULY
FEBRUARY
• SkyCity welcomes in the
New Year with a fireworks
display from the top of
the Sky Tower involving
500 kilograms of
pyrotechnics, 3,800 effects,
1.6 tonnes of equipment
and 14 kilometres of
computer control cabling
• Flare bar and Food Republic
(a new food court) open on
the SkyCity Auckland main
gaming floor
• SkyCity confirmed as the
official accommodation and
hospitality partner of the 2020
Aotearoa Music Awards
OCTOBER
JUNE
NOVEMBER
• S&P Global Ratings revises the
outlook for SkyCity's long term
issuer credit rating and its debt
issue rating from 'Negative' to
'Stable' and affirms SkyCity's
long term issuer credit rating
and its debt issue ratings
as BBB-
• Michael Ahearne appointed
as Chief Executive Officer,
replacing outgoing
Chief Executive Officer
Graeme Stephens
• SkyCity Adelaide closed
from 19 – 22 November in
response to state-wide
COVID-19 restrictions
• Julie Amey appointed as Chief
Financial Officer, replacing
outgoing Chief Financial Officer
Rob Hamilton
• SkyCity issues $175 million
of six-year, unsecured,
unsubordinated, fixed rate
bonds maturing on 21 May 2027
• Free sanitary products made
available in all female and
gender-neutral employee
bathrooms across SkyCity’s
New Zealand properties
• The A$330 million
SkyCity Adelaide expansion
project officially opens
(completed on-time and
on-budget), including the
new 120-room luxury hotel
Eos by SkyCity
• The All Blacks Experience
and Weta Workshop
Unleashed attractions open
at SkyCity Auckland
• Silvana Schenone, Julian Cook
and Chad Barton appointed
as non-executive directors of
SkyCity Entertainment Group
• SkyCity informed by
AUSTRAC of potential AML
non-compliance by
SkyCity Adelaide
AUGUST
APRIL
• SkyCity Auckland’s casino
and entertainment facilities
closed from 12 – 30 August
in response to the COVID-19
Alert Level in Auckland
increasing to Alert Level 3
• SkyCity Auckland’s casino
and entertainment facilities
closed from 14 – 17 February
and 28 February – 6 March
in response to the COVID-19
Alert Level in Auckland
increasing to Alert Level 3
• SkyCity Auckland celebrates
its 25 year anniversary
SEPTEMBER
MAY
DECEMBERJANUARY
• SkyCity redeems 125 million
‘Series 2015’ corporate bonds
at $1.0280 per bond
• A new VIP gaming offering,
VIP BLACK and Ultra, opens
at SkyCity Auckland as part
of a $50 million upgrade of
SkyCity Auckland’s gaming
facilities
GENERAL
Year in
Review
11

The global COVID-19 pandemic has continued
to significantly impact SkyCity’s business and
operations at each of its properties over the last
financial year. Government mandated lockdowns
in New Zealand and South Australia resulted in
the closure of the SkyCity Auckland casino and
entertainment facilities for a total of 29 days over
the period and the SkyCity Adelaide property for a
total of 3.5 days over the period.
The SkyCity Wharf property has remained
closed in Queenstown since initially closing on
23 March 2020 (just prior to the initial COVID-19
lockdown in New Zealand) as the ongoing border
restrictions continue to have a detrimental effect on
the local Queenstown economy in particular, which
is largely dependent on tourism.
When permitted to reopen, our properties have
initially operated with significant operational
constraints due to restrictions on mass gatherings
and physical distancing requirements. Significant
operational effort has been required to rapidly close
and reopen our properties with rigorous health and
safety measures in place.
Fortunately, due to the significant efforts of the
SkyCity team and the strength of our business
continuity framework, SkyCity has been able to
quickly and successfully respond to the ongoing
challenges that the COVID-19 pandemic has
presented and manage the impacts to SkyCity’s
business and operations.
These collective measures have meant that SkyCity
has been well positioned to deal with the events of
the last financial year and quickly respond when
our properties have been permitted to reopen.
Pleasingly, our core domestic gaming business has
proved resilient. However, the ongoing health and
safety risks of COVID-19 have significantly altered
the commercial landscape for SkyCity's land-based
properties in both New Zealand and South Australia.
Fortunately, development work on the
A$330 million SkyCity Adelaide expansion project
and associated master planning projects, the
New Zealand International Convention Centre and
Horizon Hotel projects and the $50 million upgrade
of the SkyCity Auckland gaming facilities was
able to continue over the period. The completed
SkyCity Adelaide expansion project, including
Eos by SkyCity – a new 120-room luxury hotel,
was officially opened in December 2020.
SkyCity Online Casino, SkyCity’s offshore online
casino platform based in Malta, continued to trade
over the period without interruption and saw strong
growth in its customer base during lockdown
periods in New Zealand.
SkyCity’s continuing focus is on managing the post
COVID-19 recovery and operating sustainability as
a smaller, domestically focused business pending
the gradual recovery of international visitors as
international borders reopen.
Impact of COVID-19 – FY21 vs FY19 Performance
GENERAL
We were assisted by the
New Zealand and Australian
Governments in the form of
Wage
Subsidy
and JobKeeper payments
(which SkyCity has subsequently
determined to partially refund).
We executed a
$230 million
equity raising in mid-2020 as part of a
comprehensive funding plan to strengthen SkyCity’s
balance sheet in response to uncertainty around the
impacts of COVID-19 and 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.
In May 2021, we also issued $175 million of six-year,
unsecured, unsubordinated, fixed rate bonds to
institutional investors and New Zealand retail
investors, the proceeds of which were used
to reduce the SkyCity Group's drawings on
its bank facilities.
We introduced a new
SkyCity Flex
framework for our employees
to enable flexible working and
restructured our New Zealand
workforce (downsizing it
by around 25%).
We developed and implemented a
COVID-19 Health
Management
Framework and
Operating Plan
for our business and operations.
SkyCity’s New Zealand properties were amongst
the first casino operations in the world to reopen
(at COVID-19 Alert Level 2) during the global
pandemic with robust health
management strategies in place.
We refocused SkyCity
as a smaller,
domestically
focused business
and adjusted our operating model to
reflect the new COVID-19 operating
environment, including minimising
our operating costs, reducing
operating hours across our
precincts and significantly
reducing capital expenditure.
Managing the
Impacts of COVID-19
International
visitation down
Auckland hotel
occupancy down
Sky Tower
visitation down
95%38%7 1%
13
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
12

Impacts of COVID-19 Alert Level Changes
The New Zealand Government introduced a four-tiered COVID-19 Alert System in March 2020 to manage
and minimise the risk of COVID-19 in New Zealand and to help people understand the current level of risk
and corresponding legal restrictions. The following table shows the impacts of the various COVID-19 Alert
Levels on SkyCity’s New Zealand properties.
In Adelaide, COVID-19 restrictions have been implemented as required by the South Australian Government
in response to the level of risk at the relevant times and businesses are required to have a COVID
Management Plan, approved by SA Health (the South Australian Government), and/or a COVID-Safe
Plan in place outlining how high-risk activities will be managed to reduce the risk of transmission of
COVID-19 between patrons/attendees and staff. An approved COVID Management Plan is in place for the
SkyCity Adelaide property.
EFFECTIVE DATE OF
CHANGE IN ALERT LEVEL
AUCKLANDHAMILTONQUEENSTOWN
28 February 2020First COVID-19 case reported in New Zealand
19 March 2020
New Zealand border closed to all but New Zealand citizens and
permanent residents
21 March 2020Alert Level system introduced
21 March 2020
222
1.30pm, 23 March 2020
333
11.59pm, 25 March 2020
444
11.59pm, 27 April 2020
333
11.59pm, 13 May 2020
222
11.59pm, 8 June 2020
111
12.00pm, 12 August 2020
3
22
11.59pm, 30 August 2020
2.5
22
11.59pm, 21 September 2020
2.5
11
11.59pm, 23 September 2020
211
11.59pm, 7 October 2020
111
13 November 2020
Auckland CBD
closed
11
11.59pm, 14 February 2021
3
22
11.59pm, 17 February 2021
211
11.59pm, 22 February 2021
111
6.00am, 28 February 2021
3
22
6.00am, 7 March 2021
211
12.00pm, 12 March 2021
111
GENERAL
ALERT LEVEL
LEVEL
2/2.5
LEVEL
3
LEVEL
4
LEVEL
1
Full closure (excluding the SkyCity Auckland hotels)
Full closure (excluding the SkyCity Auckland hotels),
but construction work permissible
Alert Levels
Open with significant operational constraints due
to restrictions on mass gatherings and physical
distancing requirements
Open with no restrictions on
mass gatherings or physical
distancing requirements
To comply with physical distancing
requirements, each move from Alert 1
to Alert 2 (and vice versa) in Auckland
has required the construction (and
deconstruction) of 11 separate zones
within the main casino floor
and involved:
• moving approximately 400
electronic gaming machines and
370 hoarding panels
• 15 dedicated staff members over
two days
15
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
14

FY21 REVENUE BY BUSINESS ACTIVITY
Our Business
FY21 Outputs and Financial Results
FY21 revenue and annual visitation
GAMING
HOSPITALITY
HOTELS
CONTRIBUTIONSHOTELS
SKY TOWER
GAMING
HOSPITALITY
SKY TOWER
18
restaurants
328
metres tall
755
hotel rooms
$
585.4
million
including online
(reported)
$
77.9
million
$
7.3
million
$
29.5
million
3.4
million
restaurant/bar covers
166,096
visits
142,067
rooms coccupied
$
112.1
million
in taxes to Governments
(including GST, gaming tax
and income tax)
$
278.7
million
in remuneration
and benefits to staff
$
53.2
million
in dividends declared for
shareholders (in relation
to the FY21 period)
$
12.3
million
in community contributions,
levies and sponsorships
$
293.8
million
to suppliers
$
177.5
million
of capital invested
$
38.7
million
in interest paid to lenders
$
666.1
million*
including online
(normalised)
1.9
million
visits from loyalty card
members to our
land-based casinos**
15
bars
*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.
(as at 30 June 2021)
5
land-based casino licences
ReportedNormalised
%%
Local Gaming75%77%
International Gaming2%3%
Online Gaming2%2%
Hotels and Conventions5%4%
Food and Beverage10%9%
Other6%5%
GENERAL
Creating Value
331
automated table games
3,456
electronic gaming machines
4,259
staff
5
properties across
New Zealand and Australia
1
online casino
309
table games
17

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 people, our communities, our suppliers, our environment and
our shareholders.
FY21 Outcomes and Impacts
GENERAL
Over
$
426 million
paid to suppliers of goods
and services during
FY21 (including capital
expenditure)
FY20 – over $530 million
Around
600
key ongoing
significant suppliers
across the SkyCity Group
FY20 – around 800
71 active suppliers
had completed an EcoVadis
assessment/audit process as
at 30 June 2021
FY20 – 79 active suppliers
16,750
tonnes CO2e
total carbon footprint
FY20 – 15,137 tonnes CO2e
43.4%
reduction
in waste sent by SkyCity to
landfill since 2015
148 tonnes
of food waste from our
SkyCity Auckland kitchens
sent to be commercially
composted to aid the
New Zealand horticulture
industry
FY20 – 292 tonnes
7 cents
dividend per share
(fully imputed) declared
in relation to FY21
FY20 – 10 cents per share
Eligible shareholders
in New Zealand and
Australia were invited to
participate in a
$50 million
share purchase plan – with
21,008,403 new ordinary
shares issued in July 2020
at $2.38 per share, a 2.5%
discount to the five-day
volume weighted average
price of SkyCity’s shares
traded on the NZX during
the last five days of the
offer period

$
4.1 million
paid to the SkyCity
Community Trusts
FY20 – $3.7 million
$
39.2 million
paid in gaming taxes and
problem gaming levies
FY20 – $33.1 million
Over
$
2.2 million
raised for Leukaemia and
Blood Cancer New Zealand
in two Firefighter Sky Tower
Stair Challenges
80%
of our employees
participated in our biennial
Speak Up employee
engagement survey
with an engagement score
of 85% favourable achieved
ZERO
fatalities or life altering
injuries
FREE
sanitary products provided
to all employees – with the
initial pilot phase rolled out
in New Zealand in May 2021
and in Adelaide in July 2021
Provided increased support
for employee mental health
and wellbeing as employees
cope with the challenges and
uncertainty that has been a
feature of the past year with
the impact of COVID-19.
133
additional cameras
installed within our casino
properties for Phase 2 of
facial recognition in FY21
1,373
customers
identified within our casino
properties in breach of their
exclusion orders during FY21
FY20 – 1,757
1,077
exclusion orders
issued across our casino
properties during FY21
FY20 – 982
Implemented ‘Phase 2’ of
facial recognition technology
at the SkyCity Auckland and
SkyCity Hamilton casinos
to enable SkyCity to better
identify customers who
remain within the casino for
extended periods of time.
Since establishing the
first SkyCity Auckland
Community Trust in 1996,
SkyCity has awarded
nearly 5,000 grants
totalling over $61.7 million
to various community
groups and organisations
in New Zealand, large and
small, through the four
SkyCity Community Trusts.
OUR CUSTOMERSOUR SUPPLIERSOUR ENVIRONMENTOUR PEOPLEOUR COMMUNITIESOUR SHAREHOLDERS
Refined our sourcing
strategy by developing
clear definitions for what
constitutes “local” in the
context of our supplier and
product classifications.
Achieved carbon zero
status for the SkyCity Group
for FY21 by way of offset
through Toitū Envirocare.
Creating Value19
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
18

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
FY17FY18FY19FY20FY21
25.4
25.3
20.0
25.6
21.4
20.0
10.0
35.4
10.0
11.9
20.6
7.0
23.4
6.8
20.0
Group EBITDA
0.0
50
100
150
200
$ million
250
300
350
FY17FY18FY19FY20FY21
338
310
343
298
252
317
201
348
320
307
Group Revenue
0
200
FY17FY18FY19FY20FY21
400
600
800
$ million
1,000
1,200
1,101
816
1,119
822
780
1,125
822
952
1,029
878
Enterprise Value
0.0
500
1,000
1,500
2,000
$ million
2,500
3,000
3,500
FY17FY18FY19FY20FY21
447
3,196
2,749
488
3,036
2,548
590
3,258
2,668
541
2,308
1,767
349
3,072
2,723
Net Debt
Equity Value
FY21 Highlights
SkyCity’s result for the financial year ended 30 June 2021 was significantly impacted by the New Zealand
International Convention Centre fire and COVID-19 pandemic (as was the case in the financial year
ended 30 June 2020), with normalised EBITDA and NPAT for the Group for the period to 30 June 2021
negatively impacted.
The key features of the FY21 result are:
7 cents per share
DIVIDEND
FY21 dividend* (fully imputed) of
BONDS
$
175 million
of six-year, unsecured, unsubordinated,
fixed rate bonds issued in May 2021
to be paid during September 2021
$
317.3 million
$
156.1million
$
252.0 million
$
90.3 million
ReportedReported
NormalisedNormalised
EBITDAN PAT
* An interim dividend was not declared for FY21 due to restrictions
in the covenant waivers/relief secured as part of a funding plan
announced by the company in June 2020.
Reported
Normalised
Reported
Normalised
(Including gaming GST)
Declared DPS
Reported EPS
Normalised EPS
GENERAL
Performance
FY20 – $348.3 millionFY20 – $235.4 million
FY20 – $66.3 million
FY20 – 10 cents per share
FY20 – $200.7 million
21
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
20

Winning Teams
• Winner of the Best Social Responsibility category at the 2020 CBD Celebration Awards, recognising
SkyCity Hamilton’s commitment to community, customers, diversity and sustainability
• Awarded the Excellence in Treasury Award and named a finalist in the Market Leaders Best Investor
Relations Award at the 2021 INFINZ Awards
• Awarded an Excellence Award in the In-House Lawyer of the Year category and the In-House Team of the
Year category at the 2020 New Zealand Law Awards
• Awarded a Gold Award in the 2021 Australian Reporting Awards General Award, and a Silver Award in the
2021 Australian Reporting Awards Sustainability Reporting Awards, for the 2020 SkyCity Annual Report
• Finalist in the 2020 New Zealand Events Awards in the Best Not-for-Profit or Cause-related Event
category (for the Firefighter Sky Tower Stair Challenge), Best Event Sponsorship category (for Vertical
Pursuit) and Best Music or Entertainment Event category (for New Year's Eve)
SkyCity’s vision is to be the leader in gaming, entertainment and hospitality in
our communities.
As a major employer with more than 4,200 staff across our properties in
New Zealand and Adelaide, South Australia, we play a significant role in our
communities and are immensely proud of the contribution we make to the
communities we operate in, and our staff continue to do us proud, year-on-year.
Winning Employment Opportunities
• Winner of the Diversity and Inclusion Leadership Award at the 2020 Deloitte Top 200 Awards and
the Diversity and Inclusion Award at the 2021 NZ HR Awards for Project Nikau, SkyCity’s pathway to
employment programme for vulnerable young people targeting Māori and Pasifika
• SkyCity Hamilton was awarded a Workbridge ‘Above and Beyond Employer Award’ in 2020 which
recognises employers who are committed to creating a more inclusive workplace by supporting
workers with disabilities
Winning Experiences
• The Grand by SkyCity named Oceania's Leading Business Hotel at the 27th World Travel Awards
• 2021 Tripadvisor Travellers' Choice Award for the SkyCity Hotel, The Grand by SkyCity, MASU, The Grill,
Orbit, Depot and Huami
• 2020 Tripadvisor Travellers' Choice Award for the Sky Tower, The Sugar Club, MASU, The Grill, Orbit,
Gusto and Depot
• MASU, Depot and Huami named in Viva’s ‘Top 50’ restaurants in Auckland for 2021
• MASU and Huami named in Metro Magazine’s ‘Top 50’ bars in Auckland for 2021
• MASU, Depot, Huami and Fed Deli named in the 2021 Denizen Hospo Heroes
• The Sugar Club named in Zufolo’s ‘Top 50’ Auckland restaurants for 2020-2021
• Fed Deli named ‘Best under $50’ in Remix Magazine’s 2021 Lifestyle Awards
Tripadvisor gives a Travellers’ Choice
Award to accommodation, attractions
and restaurants that consistently earn
great reviews from travellers and are
ranked within the top 10% of properties
on Tripadvisor
An Award-Winning
Business
GENERAL
Winning
Partnerships
Over the last financial
year, we were proud to
sponsor and partner
with great organisations
in our communities:
23
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
22

At SkyCity, we employ a diverse range of people at all skill levels and aim to create an
environment where people are at the centre, are motivated to work hard, progress in
their careers and are empowered to grow and achieve.
The following graphic shows the diverse make up of SkyCity’s workforce as at 30 June 2021 and, where
relevant, as a comparison against our workforce numbers as at 30 June 2020.
GENERAL
PLEDGING SUPPORT TO THE 40:40 VISION
Although women make up around half of SkyCity’s workforce, female representation remains
challenging at higher levels of the organisation, particularly in senior leadership roles.
In May 2021, SkyCity signed up to the 40:40 Vision, pledging a commitment to achieve gender balance
across its executive leadership by 2023. 40:40 Vision is an investor and business-led initiative to achieve
40% women, 40% men and 20% any gender across the executive leadership teams of all ASX200
companies by 2030.
See page 95 of this annual report for the gender composition of SkyCity’s directors, officers, senior
executives and total workforce as at 30 June 2021.
Given as a percentage of those staff members who provided details about their ethnicity and those who elected “prefer not to say”.
OUR TOP 10 ETHNICITIES STAFF IDENTIFY WITH
Diversity Snapshot
6
%
identify as being a member
of the LGBTTI+ community
FY20 – 6%
51
%
of total workforce
are men
FY20 – 51%
1
%
identify as having
a disability
FY20 – 1%
34
YEARS – average age
of our workforce
FY20 – 36 years
76
YEARS – age of our
oldest staff member
FY20 – 79 years
49
%
of total workforce
are women
FY20 – 48%
62
%
of our workforce are
36 years old and under
FY20 – 58%
4,259
STAFF (full-time, part-time
and casual)
FY20 – 3,817
AGE BREAKDOWN
24.4%37.8%28.3%9.5%0%
15%
7%
14%
6%
14%
4%
7%
4%
8%
4%
Generation Z
(<23 years)
FY20 – 19.2%
Millennials
(24–36 years)
FY20 – 38.4%
Generation X
(37–53 years)
FY20 – 31.4%
Baby Boomers
(54–75 years)
FY20 – 10.9%
Veterans
(76–93 years)
FY20 – 0.1%
Chinese
FY20 – 17%
Other Asian
FY20 – 7%
Australian
FY20 – 11%
Māori
FY20 – 8%
New Zealander
FY20 – 15%
Other South East
Asian
FY20 – 1%
Filipino
FY20 – 6%
European
FY20 – 6%
Indian
FY20 – 11%
Samoan
FY20 – 3%
61
languages spoken
and/or written by staff
FY20 – 57
Mandarin
Tagalog (Philippines)
Hindi
our top 3 non-English languages
FY20 – Mandarin, Tagalog, Hindi
37
%
of leadership roles
held by women
FY20 – 39%
0
%
of total workforce
are gender diverse
FY20 – 1%
25
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
24

GENERAL
A Refreshed Group Strategy
In February 2021, following the appointment of Michael Ahearne as the new Chief Executive Officer
in November 2020, SkyCity announced a refreshed Group strategy. Our refreshed strategy prioritises a
focus on our core business, executing our major projects in Adelaide and Auckland and delivering on the
omnichannel opportunity, whilst focusing on protecting and enhancing our social licence to operate to
secure our future success across various financial, social and human capitals.
SkyCity continues to monitor and evaluate adjacent opportunities in the casino industry as they arise.
Group Strategy
Operational excellence
at our core
Capital allocation
framework
Key financial settings
(dividends,
credit rating, etc)
Sustainable total
shareholder return
growth
Culture of protecting and enhancing social licence – responsible gaming,
anti-money laundering, community, sustainability and people
Pursue the omnichannel
opportunity
Complete major projects
and optimise portfolio
Key Strategic Pillars
(core focus)
Financial Strategy
27

GENERAL
This section provides a summary of SkyCity’s
performance and strategic positioning to create
value during the financial year ended 30 June 2021
and our priorities for the year ahead.
FY21 Performance – Our
Business Goals
Operational Excellence at our Core
During the past financial year, SkyCity continued to
face significant challenges from the impact of the
COVID-19 pandemic. Pleasingly, we have been able
to leverage a more flexible and resilient operating
model to effectively manage an uncertain domestic
and international environment.
The benefits of our investment in new gaming
product, product management and changes to
the gaming floor layout continue to be realised
across the Group, particularly in Auckland with the
opening of new premium gaming rooms and in
Adelaide post the opening of the new expansion
project from December 2020.
SkyCity continues to leverage its complementary
assets to drive gaming visitation and our properties
have benefitted from increased domestic tourism
in New Zealand and South Australia as local
customers continue to have limited opportunities
to travel internationally. SkyCity continues to focus
on tactical marketing and loyalty activations as a
cost-effective tool to drive higher quality visitation
with marketing expenditure as a percentage of
revenue significantly down across all properties.
Changes to SkyCity’s operating model in response
to COVID-19 and an ongoing focus on cost control
are delivering efficiencies across the Group, with
operating margins up compared to pre COVID-19
levels at all properties on a like-for-like basis.
The resilient performance of our local gaming
businesses, particularly in New Zealand, has been
pleasing given its importance to Group earnings
and hence value. Both SkyCity Hamilton and
SkyCity Queenstown delivered strong EBITDA
performances for the full year underpinned by
strong local gaming activity (particularly electronic
gaming machines) and good cost execution.
When operating at Alert Level 1 in New Zealand,
local gaming activity at SkyCity Auckland was
consistently above pre COVID-19 levels, particularly
during weekend and holiday peaks.
Performance at SkyCity Adelaide post the opening of
the expansion project has been consistent with strong
local gaming activity, particularly from premium
customers (with electronic gaming machine market
share around 9%) and new non-gaming facilities
proving popular with customers. Good cost execution
has seen property margins ahead of expectations at
around 20%.
We continue to make good progress on our ICT
investment and enhancing our digital capability,
focusing on initiatives to improve customer
experience, centred around loyalty, customer
relationship management (CRM) and data analytics.
Complete Major Projects and Optimise Portfolio
We have progressed a number of key initiatives
to optimise our existing portfolio over the last
financial year.
Adelaide Expansion Project
The A$330 million SkyCity Adelaide expansion
project was delivered on-time and on-budget in
December 2020 and included significant master
planning works at the existing property within the
historic Railway Station building to restore the
building and improve the layout and experience
for customers.
The new gaming spaces, Eos by SkyCity (the new
120-room luxury hotel) and a majority of the
new food and beverage venues were opened in
a staged manner from early December 2020,
reflecting customer demand - with the focus
initially on local and interstate customers given
the ongoing international border closures. The
expansion delivers significantly expanded gaming
and entertainment facilities with a multi-level
casino podium, contemporary gaming spaces (both
main floor and premium) and a 30% increase in
gaming product.
New regulatory reforms were implemented in
time for the expansion opening, permitting the
use of banknote acceptors, ticket-in ticket-out
(TITO) functionality on the main gaming floor and a
multi-protocol gaming system.
Walker Corporation has now completed a
1,500-space car park as part of its redevelopment of
the Festival Plaza adjacent to the SkyCity Adelaide
precinct and, in June 2021, handed over 750 car
park spaces for SkyCity’s exclusive use. The Festival
Plaza car park will be a key asset to drive visitation
to the precinct and to address the convenience
offered by suburban venues in metropolitan
Adelaide – in 2019, around A$500 million of
electronic gaming machine revenue was generated
by venues within a 50 kilometre radius of
SkyCity Adelaide.
Trading at SkyCity Adelaide has been consistent
when open and SkyCity continues to expect a
meaningful earnings uplift over the medium-term.
New Zealand International Convention Centre and
Horizon Hotel Project
The fire at the NZICC site during October 2019
and the COVID-19 pandemic have made the
NZICC and Horizon Hotel project more complex,
resulting in further significant project delays.
Reinstatement works post the fire are progressing
(with over 300 Fletcher Construction personnel
currently on site), but slower than expected.
The latest draft construction programme from
Fletcher Construction now indicates completion
of the Horizon Hotel during 2024 and the NZICC in
late 2024.
Despite the impact of the fire and COVID-19 on the
project timetable, we remain comfortable with
our contractual position – Fletcher Construction
is required to complete the project, insurance is
responding to the damage caused by the fire and, in
July 2021, we secured an extension to the long stop
date to complete the NZICC (to 15 December 2027)
with the New Zealand Government.
As previously reported, we still expect the total
cost to reinstate the NZICC and Horizon Hotel to
be covered by insurance or Fletcher Construction
and accordingly there is no material change
to previous guidance for the total project costs
(of around $750 million). As at 20 August 2021,
around $120 million of project costs (excluding fire
reinstatement costs) still remained to be spent.
Whilst the further delays on the project are
regrettable, the NZICC will support long term
growth in tourism expenditure in New Zealand and
be a significant demand driver for our Auckland
precinct, in addition to having secured the
extension of the Auckland casino venue licence out
to 2048.
Other Projects
Significant long term option value remains
embedded in our Auckland and Hamilton precincts.
Future options for our two Queenstown properties
continue to be evaluated, but with the current focus
on optimising SkyCity Queenstown and leveraging
strong domestic tourism whilst the Wharf Casino
remains closed due to ongoing international
border closures.
A range of smaller growth projects were completed
during the period, including a major refurbishment
and expansion of our premium gaming facilities
in Auckland.
As an entertainment and hospitality provider,
SkyCity is challenged to stay relevant in relation
to new forms of entertainment. In addition to
launching the SkyCity Online Casino, in late 2020
the former SkyCity Auckland Convention Centre
became home to the All Blacks Experience and
Weta Workshop Unleashed. These two world-class
attractions provide unique, interactive customer
experiences and will help to ensure the long term
relevance to the Auckland precinct.
SkyCity remains focused on effective capital
discipline and, following implementation of our
funding plan in mid-2020, the balance sheet is in
a strong position to deliver on our medium term
strategic plan. We have significant liquidity to fund
commitments, and withstand slower recovery in
New Zealand and Australia, one-off events and/or
further COVID-19 disruptions. SkyCity has satisfied
its financial covenants for the 30 June 2021 testing
period and will pay a dividend of 7 cents per
share during September 2021, following dividends
being suspended whilst in reliance on covenant
waivers/relief secured during 2020.
SkyCity remains committed to its BBB- credit rating
from S&P Global Ratings which was upgraded to
“Stable” from “Negative” Outlook during April 2021.
29
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
28
Group Strategy

Pursue the Omnichannel Opportunity
SkyCity has continued to optimise the SkyCity
Online Casino with Gaming Innovation Group Inc
(GiG) despite operational constraints. Performance
of the offshore online casino has exceeded our
expectations with significant growth in revenue and
EBITDA and in excess of 45,000 active customers.
GiG continues to provide SkyCity with a full-suite
online casino solution, which includes a technical
platform, gaming content, managed services and
front-end development.
SkyCity remains supportive of future regulation of
online gaming in New Zealand with an emphasis on
strong host responsibility and delivering community
benefits and we continue to prepare for a regulated
industry to deliver on the omnichannel opportunity
for the Group. Growth in online gambling continues
to be a significant global industry theme with
numerous international jurisdictions regulating
online gambling (or intending to do so) to
address the transition from physical to online
entertainment, which has been exacerbated by the
impact of COVID-19.
Following a public consultation which commenced
during 2019, the New Zealand Department of
Internal Affairs continues to develop a policy
framework for potential regulation. Regulation of
the New Zealand online gaming market would
enable SkyCity to pursue the omnichannel
opportunity and address a fast-growing category
which is highly complementary to our land-based
activities whilst offering customers a varied gaming
experience (both physical and digital).
FY21 Performance – Our Character
and Culture Goals
Culture of Protecting and Enhancing our
Social Licence
At SkyCity, we need to continually focus on
protecting and enhancing our social licence to
operate. A feature of the past financial year has
been the steady progress made with the many
initiatives under SkyCity’s ESG/sustainability
framework.
Steady progress has also been made to
enhance SkyCity’s host responsibility and AML
control frameworks.
Minimising harm to customers remains a key
focus with appropriate effort, resource and capital
allocated to support this initiative, such as increased
resourcing and investment in bespoke ICT systems
(including facial recognition technology and
specialised customer screening tools). SkyCity
is committed to ensuring that it provides safe
and responsible experiences and environments
and places significant importance on its host
responsibility and AML obligations. We continue
to deliver on our health and safety strategy, which
is centred around preventing harm and building
wellness, particularly in response to the risks posed
by COVID-19 in our communities.
SkyCity has continued to create and support a
positive employee culture over the period, focusing
on initiatives to enhance workplace flexibility,
wellbeing and diversity. To this end, SkyCity was
pleased to be awarded the Diversity and Inclusion
Leadership Award at the 2020 Deloitte Top 200
Awards for the second time in three years for
Project Nikau, an initiative to employ and develop
career pathways for youth with a focus on Māori
and Pasifika. SkyCity has also made progress
on refocusing the SkyCity Community Trusts in
New Zealand on initiatives that will enhance the
employability, wellbeing and advancement of youth
and has upweighted strategies to ensure its supply
chain is ethical (including the implementation of a
modern slavery statement, approved by the Board
in October 2020) and supports local businesses.
We continue to meaningfully reduce our gender pay
gap across the New Zealand businesses and thefinal
instalment of our ‘$20 by 2020’ wage initiative was
implemented in New Zealand at the end of 2020.
We remain 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 the business holistically within
the terms of our ESG/sustainability framework.
Bowl and Social at
SkyCity Hamilton
GENERAL
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
3031

GENERAL
Our Business GoalsFY22 Priorities
Operational
excellence at our
core
• Continue to manage the COVID-19 recovery, including maintaining a flexible
operating model to respond to the operating environment
• Continue growth in the local gaming business, particularly electronic gaming
machines
• Continue to pursue operating efficiencies and cost savings
• Improve loyalty and marketing execution with an increased focus on customer
experience management (CXM)
• Optimise the SkyCity Adelaide expansion and integration of the new assets
• Ongoing review and appraisal of gaming floor optimisation, including product,
layout and technology
• Ongoing review and assessment of potential licence renewal and/or relocation
in Queenstown and Hamilton
Complete major
projects and
optimise portfolio
• Complete asset review and develop holistic property strategy
• Deliver the NZICC and Horizon Hotel project in line with market guidance of
around $750 million and consistent with the revised timetable
• Develop and refine the long term master plans for each property
• Explore leasing and/or sale opportunities for non-operational property assets,
particularly in Auckland
• Deliver asset maintenance plan
• Support the new entertainment attractions (All Blacks Experience and Weta
Workshop Unleashed) in Auckland
Pursue the
omnichannel
opportunity
• Progress the opportunity for a regulated online casino market in New Zealand
• Continue to optimise our offshore venture (SkyCity Online Casino) with GiG
• Resource the online business and progress with pre-regulation planning and
preparedness
• Explore new product verticals, such as Bingo and Poker
Our Character and
Culture Goals
FY22 Priorities
Responsible
gaming leadership
and anti-money
laundering
• Respond to the AUSTRAC enforcement investigation into SkyCity Adelaide
• Deliver best practice anti-money laundering standards across all properties
• Deliver best practice host responsibility standards across all properties
• Finalise long play detection trials and implement technology and enhance
facial recognition systems
• Promote awareness of SkyCity’s anti-money laundering, know your customer
and host responsibility obligations, and training and education amongst staff
Community and
sustainability
• Focus on building staff resilience, morale and motivation
• Ongoing improvements in health, safety and wellbeing strategies
• Deliver on gender and ethnicity diversity targets in leadership/talent pipeline
• Increase understanding of/participation in flexibility at work programme
• Ongoing reduction of employee turnover
• Ongoing improvements in gender and ethnic pay equality
• Deliver employment opportunities for youth through our Project Nikau
programme
• Implement the 'SkyCity Sustainable Wage' in New Zealand
• Refine our sustainable sourcing strategy for our supply chain
• Maintain labour standards commensurate with an employer of choice
• Increase awareness of modern slavery risks and mitigations for employees
working in areas impacted by these risks
• Measure, report and offset SkyCity's carbon footprint
• Implement initiatives to reduce waste to landfill and water usage
33
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
32
Group Strategy

* Wharf Casino has been
closed since March 2020.
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, South Australia – each featuring
casino gaming facilities and premium restaurants and bars, which appeal to
both domestic and international visitors alike. SkyCity also offers premium hotel
accommodation in Auckland and Adelaide.
In addition to its land-based casino operations, SkyCity Online Casino (based out
of Malta) offers New Zealanders an exciting online gaming experience.
GENERAL
SkyCity Adelaide
SkyCity Online Casino Malta
SkyCity
Queenstown
and SkyCity
Wharf*
SkyCity Hamilton
SkyCity Auckland
and Group
Head Office
OUR HISTORY AT A GLANCE
2020
COVID-19 pandemic
temporarily closes all
SkyCity properties
in New Zealand
and Adelaide,
South Australia
SkyCity Adelaide
expansion project
officially opens
2018
Construction
commences on the
SkyCity Adelaide
expansion project
2016
The first sod is turned
on the New Zealand
International Convention
Centre/Horizon Hotel site
2012
SkyCity acquires
full ownership of
SkyCity Queenstown
2002
SkyCity
Hamilton
opens
1999
SkyCity lists
on the
Australian
stock
exchange
1997
Sky Tower
opens in
Auckland
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
1998
Harrah’s
management
contract ends
and SkyCity
becomes a
New Zealand-
managed
operation
1994
Construction of the
SkyCity Auckland
complex commences
2021
SkyCity Auckland
celebrates its
25th anniversary
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 breaks
out at the New Zealand
International
Convention Centre
(under construction)
2013
SkyCity acquires
SkyCity Wharf
in Queenstown
2005
SkyCity acquires
full ownership
of SkyCity
Hamilton
2004
SkyCity acquires
SkyCity Darwin
2000
SkyCity
Queenstown
opens
SkyCity
acquires
SkyCity
Adelaide
2020
2021
1995199420002005
2010
2015
HOTELS
3
PROPERTIES
across New Zealand
and Australia
5
ONLINE
CASINO
1
3534
About SkyCity

During the last financial year, SkyCity completed a
$50 million upgrade within the SkyCity Auckland
casino with the opening of Flare bar, Food Republic
(a three-restaurant food court) and a new VIP BLACK
and Ultra gaming machine area that provides an
unrivalled VIP offering and experience to SkyCity’s
domestic VIP customers. Two new attractions also
opened within the SkyCity Auckland precinct –
the All Blacks Experience, a joint venture between
New Zealand Rugby and Ngāi Tahu Tourism that
provides visitors with a state-of-the-art, interactive
experience showcasing the All Blacks through
the use of innovation and technology, and Weta
Workshop Unleashed, an immersive film effects
workshop created by Academy Award-winning
design and effects company Weta Workshop.
SkyCity is currently investing around $750 million
within the SkyCity Auckland precinct to develop the
New Zealand International Convention Centre, an
adjacent laneway, over 1,250 additional car parking
spaces, and Horizon Hotel – a new 300-room, 5-star
hotel. This development was originally expected to
be completed in 2019 – however, due to delays by
the contractor, the significant fire that broke out
at the New Zealand International Convention in
October 2019 and the subsequent impacts of the
COVID-19 pandemic, Horizon Hotel is now expected
to be completed during 2024 and the New Zealand
International Convention Centre and adjacent
laneway are expected to be completed in late 2024.
When open, 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.
FY21 PERFORMANCE
SkyCity Auckland celebrated its 25-year anniversary
in February 2021 and delivered a satisfactory
performance for the full year period with earnings
up 4.9% compared to the prior comparable
period, despite operational constraints arising
due to the impact of COVID-19. The property
was closed for 29 days during the period due
to COVID-19 lockdowns in August 2020 and
February/March 2021, and operated for 48.5
days under Alert Levels 2 and/or 2.5 restrictions
during the period with limits on gatherings and
mandatory social distancing requirements which
significantly reduced capacity, particularly in the
gaming business.
Local gaming performance remained resilient over
the period and, when operating at Alert Level 1 (with
no restrictions, except at the border), electronic
gaming machine activity was consistent with or
above pre COVID-19 levels, particularly during
weekend and holiday peaks. The property continues
to benefit from new product and an improved floor
layout, in addition to the new premium gaming
rooms which have been well received by customers.
Our tourism-related businesses in Auckland
continue to be impacted by ongoing international
border closures, but performance improved
progressively over the period and benefitted
from ongoing strong domestic tourism across
New Zealand as customers continue to have
limited options for international travel. Our hotels
remain profitable and continue to outperform the
competitor set, but RevPAR and earnings were
well down on pre COVID-19 levels. Our food and
beverage and attraction businesses were at broadly
break-even contribution.
Pleasingly, operating margins at the property
remained stable compared to the prior
comparable period leveraging cost saving initiatives
implemented during 2020.
GENERAL
Auckland
SkyCity Auckland is the flagship property of the
SkyCity Entertainment Group, featuring 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. Located in the
heart of Auckland’s CBD, the SkyCity Auckland
precinct occupies ~295,000sqm of gross floor
area across the majority of three city blocks
(~3.5 hectares).
Opened in 1997, the 328-metre tall Sky Tower
is an icon of Auckland’s skyline and the tallest
free-standing structure in the Southern
Hemisphere. Visitors can enjoy breathtaking
views right across Auckland from the observation
decks or any of the 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.
PropertySkyCity Auckland, New Zealand
Property Manager
Callum Mallett, Chief Operating Officer New Zealand
Opened1996
Casino Venue LicenceRuns until 2048*
Facilities• Casino
• Hotels
• Food and beverage
• Entertainment
• 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
FY21 Revenue $436.4 million
^
(reported)
$488.2 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.
**This allowance may be alternatively utilised to enable automated table game terminals.
***This allowance may be alternatively utilised to enable table games.
^Excludes New Zealand International Convention Centre fire income and liquidated damages received.
37
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
36
About SkyCity

Weta Workshop Unleashed
All Blacks Experience
VIP BLACK
Food Republic
Flare
GENERAL
39
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
38
About SkyCity

GENERAL
Adelaide
PropertySkyCity Adelaide, Australia
Property Manager
David Christian, Chief Operating Officer Australia
Acquired2000
Licensing Agreement Runs until 2085*
Facilities• Casino
• Hotel
• Food and beverage
• Entertainment
• Conventions
Licensed Gaming Product
• 1,080 electronic gaming machines (allowance for 1,500)
• 118 table games (allowance for 200)**
• 91 automated table games (allowance for 300)
Workforce~1,350 staff
FY21 RevenueA$183.2 million (reported)
A$196.9 million (normalised)
* The Approved Licensing Agreement between the Minister for Business Services and Consumers and SkyCity Adelaide Pty Limited provides
Adelaide Casino with exclusive rights to provide casino gaming (except for interactive gambling) in South Australia until 30 June 2035.
**This allowance may be alternatively utilised to enable automated table game terminals.
Located in and around the historic Railway Station
building on the banks of the Torrens River, SkyCity
Adelaide is South Australia’s only casino destination
on the Festival Plaza forecourt adjacent to the
Adelaide Festival Centre and Adelaide Convention
Centre and near the Adelaide Oval.
In December 2020, SkyCity completed a A$330
million expansion project at the Adelaide property,
transforming SkyCity Adelaide into a world-class
integrated entertainment hub. Designed by The
Buchan Group in association with Hecker Guthrie
Walter Brooke, and built by Hansen Yuncken, the
new development includes 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. A spectacular
three-storey glass atrium connects the Railway
Station building seamlessly with the adjoining
new development.
As part of the transformation, the existing SkyCity
Adelaide business, housed in the iconic Adelaide
Railway Station, was also extensively revitalised
and restored to improve the layout and experience
for customers, and now includes a new live
entertainment space (The District at SkyCity) and
Australia’s first fully functional microbrewery within
a casino (operated by Pirate Life).
As part of the South Australian Government’s
broader review of gambling regulation in South
Australia, in October 2020, SkyCity Adelaide
introduced ticket-in ticket-out (TITO) technology
on the main gaming floor and banknote acceptors
across the casino.
FY21 PERFORMANCE
SkyCity Adelaide’s performance prior to the
expansion opening in December 2020 was
impacted by operational constraints due to
COVID-19 and construction disruption, but
performance since opening the new facilities
significantly improved across all activities.
Strict social distancing measures were required
due to COVID-19 for a large part of the full year
period and the property was closed for 3.5 days
in late November 2020 in response to a local
COVID-19 outbreak.
Performance at SkyCity Adelaide when open has
been consistent with strong local gaming activity,
particularly from premium customers (with
electronic gaming machine market share of around
9%) and new non-gaming facilities proving popular
with customers. Property revenue during 2H21
was up around 50% compared to the comparable
periods (including FY19 for April through to June
2021 due to the property being closed in the FY20
prior comparable period). Good cost execution has
seen property margins ahead of expectations at
around 20%.
SkyCity Adelaide received a one-off benefit from the
Australian Jobkeeper scheme (around A$11 million
EBITDA impact) during the period which was
treated as other income. A partial repayment will
be made to reflect SkyCity’s improved financial
performance in FY21.
41
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
40
About SkyCity

GENERAL
A NEW ERA OF LUXURY IN ADELAIDE
The A$330 million SkyCity Adelaide expansion
development opened to the public in December 2020.
Eos by SkyCity is 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.
43
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
42
About SkyCity

GENERAL
Hamilton
Situated within Hamilton’s historic Chief Post Office,
a building designed to maximise its 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 – Bowl and Social.
Over the last financial year, SkyCity has continued to
invest in its core casino and hospitality businesses
with a range of improvements across the SkyCity
Hamilton property, including a new Baccarat Lounge
and a refurbished function space, The Garden
Room. A key focus has been on product and layout
optimisation within the casino to maintain SkyCity
Hamilton’s market leader position and manage high
demand for electronic gaming machines (which
remain capacity constrained at peak times).
SkyCity Hamilton is a key member and supporter
of the local community and is committed to
being the Waikato region’s premier entertainment
destination. We were therefore thrilled to have been
named the winner of the Best Social Responsibility
category at the Hamilton Central Business
Association’s 2020 CBD Celebration Awards,
recognising SkyCity Hamilton’s commitment to
community, customers, diversity and sustainability,
and the runner-up in the Community Contribution
category at the 2020 Waikato Business Awards.
FY21 PERFORMANCE
SkyCity Hamilton delivered a strong revenue and
earnings result for a full year period, underpinned
by strong local gaming activity and cost control,
despite 51 days operating under Alert Level 2
restrictions over the period.
Consistent with prior periods, Hamilton delivered
strong electronic gaming machine activity, despite
capacity constraints, benefitting from improved
product mix and new gaming areas, particularly for
VIP customers.
The property has shown resilience to the impacts of
COVID-19 over the last financial year due to having
a predominantly domestic (and gaming) focused
business and supportive external factors, including
population growth, an increasingly diverse local
economy (less reliance on the primary sector) and
improved connectivity to the Auckland region. The
Waikato region has also benefitted from strong
domestic tourism activity in New Zealand as
international borders remain closed.
A focus on cost control and operating efficiencies
delivered significant margin improvement
compared to the prior comparable period.
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
FY21 Revenue$65.0 million (reported)
$73.5 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.
**This allowance may be alternatively utilised to enable automated table game terminals.
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~50 staff
FY21 Revenue$10.9 million (reported)
$12.3 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.
**This allowance may be alternatively utilised to enable automated table game terminals.
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 after the first COVID-19
lockdown in New Zealand, the smaller SkyCity
Wharf property has remained closed since initially
closing on 23 March 2020 as ongoing border
restrictions continue to have a detrimental effect on
the local Queenstown economy in particular, which
is largely dependent on tourism.
FY21 PERFORMANCE
SkyCity Queenstown delivered a strong earnings
result for a full year period, underpinned by strong
electronic gaming machine activity, positive
domestic tourism into the region, particularly during
peak holiday periods, and effective cost control.
This strong performance was despite 51 days
operating under Alert Level 2 restrictions over
the period and ongoing international border
closures. The Wharf Casino remained closed over
the period and is expected to remain so for the
foreseeable future.
Good cost execution over the period delivered
a significant increase in operating margins – an
onerous lease benefit of $986,076 was realised
during 1H21 when the decision was made to keep
the Wharf Casino closed. Future options for our two
Queenstown properties continue to be evaluated,
with the current focus on optimising SkyCity
Queenstown and leveraging strong domestic
tourism trends.
45
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
44
About SkyCity

International Business
General Manager
Stewart Neish
FacilitiesPremium gaming facilities at SkyCity Auckland,
SkyCity Adelaide and SkyCity Queenstown
FY21 Revenue$17.8 million (reported)
$22.1 million (normalised)
SkyCity’s International Business division caters
for high-net worth international players who visit
casinos as part of their leisure activities.
The flagship SkyCity Auckland property features
several premium gaming spaces, including
1,800 sqm of luxury high-end gaming space
above the SkyCity Hotel 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.
Additional VIP luxury gaming facilities were opened
in December 2020 as part of the A$330 million
SkyCity Adelaide expansion.
In April 2021, SkyCity announced, following
completion of a strategic review into its
International Business division, that it would
permanently cease dealing with junket operators
and continue to operate its International Business
division under a revised operating model where
SkyCity will deal directly with International Business
patrons after appropriate know your customer and
customer due diligence requirements are satisfied.
FY21 PERFORMANCE
Our International Business division continues to be
significantly impacted by COVID-19 and ongoing
international border closures resulting in negligible
international tourism activity over the period.
Cost control and modest interstate tables activity in
Adelaide post expansion reduced expected losses,
with 2H21 performance slightly EBITDA positive.
Our International Business team has continued
to focus on proactive customer engagement to
prepare the business for when borders reopen
and customers can return to our properties.
GENERAL
Online
Managing Director
Steve Salmon
FacilitiesOnline casino
FY21 Revenue$13.1 million (reported)
$13.1 million (normalised)
Launched in August 2019, SkyCity Online Casino
provides New Zealanders with an offshore online
casino platform, featuring over 1,600 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 led by a Managing
Director based in Europe.
GiG provides a full-suite online casino solution,
including a technical platform, gaming content,
managed services and front-end development.
SkyCity remains supportive of future regulation of
online gaming in New Zealand with an emphasis on
strong host responsibility and delivering community
benefits in New Zealand and we continue to
prepare for a regulated industry to deliver on the
omnichannel opportunity for the Group. Growth
in online gambling continues to be a significant
global industry theme with numerous international
jurisdictions regulating online gambling (or
intending to do so) to address the transition from
physical to online entertainment, which has been
exacerbated by the impact of COVID-19.
Following a public consultation which commenced
during 2019, the Department of Internal Affairs
(the New Zealand gambling regulator) continues
to develop a policy framework for potential
regulation. Regulation of the New Zealand
online gaming market would enable SkyCity
to pursue the omnichannel opportunity and
address a fast-growing category which is highly
complementary to our land-based activities whilst
offering customers a varied gaming experience
(both physical and digital).
FY21 PERFORMANCE
SkyCity continued to optimise its online casino
venture with GiG over the period, despite
operational constraints. SkyCity Online Casino’s
performance over the year has exceeded
expectations with significant growth in revenue
and EBITDA and in excess of 45,000 active
customers currently.
With gross gaming revenue of $27.9 million (and
net revenue attributable to SkyCity of $13.1 million)
and reported EBITDA of $9.1 million for the period,
SkyCity Online Casino is now making a meaningful
contribution to the Group. EBITDA margin for
the period was in line with expectations due to
operating leverage and effective management of
customer acquisition costs.
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
46

Our ValuesRefreshing Our Brand
GENERAL
Our people-centric values represent what it means to succeed at SkyCity – they
identify what is expected from us when we come to work and define the important
role we all play in creating magic at SkyCity.
In June 2021, SkyCity Auckland launched a new brand campaign, Feel It, across outdoor, online video and
print media channels. Designed to remind Aucklanders and visitors from the rest of New Zealand that
SkyCity offers a range of memorable experiences, the campaign celebrates the feelings SkyCity creates
for its visitors across its extensive range of offerings. The campaign features many of SkyCity’s most iconic
attractions, as well as several less well known experiences.
Feel It unifies the many and varied parts of SkyCity under the many and varied feelings they create, be that a
delicious meal, a relaxing massage or yoga class, a walk around the outside of the Sky Tower, or a jump off it,
a stay in one of our hotels, or a night at the roulette table – all of these activities create memorable feelings
that are celebrated in this campaign.
We all have a unique set of skills with which we
do our part for SkyCity.
Own your role, embrace it with passion and
energy, act with integrity, be genuine with your
interactions and be accountable for your work.
Be proud of your successes.
Take responsibility for your mistakes and learn
from them to keep improving.
We're all a part of the SkyCity team.
Be a passionate member of your team and work
towards your shared goals.
Help others along the way, treat your colleagues
and customers fairly and with respect.
Be honest and connect with others to build
strong relationships.
Be inclusive and embrace diversity.
Be enthusiastic and take pride in working
for SkyCity.
Always strive to deliver exceptional
customer experiences.
Seek out ways to go the extra mile and leave
a lasting impression.
Help us to continually improve and create the
best version of SkyCity.
49
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
48

Risk Profile and
Management
GENERAL
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.
SkyCity 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, assurance
planning, and ongoing business improvements.
Management reports to the SkyCity Board and
the Board’s Audit and Risk Committee on the
effectiveness of the company’s management of its
material business risks at least annually.
SkyCity operates a combined assurance model
which is led by the Group Risk team and includes a
combination of business self-assurance (production
and maintenance of business unit risk registers),
internal audit activity, and the selected outsourcing
of a number of independent reviews. The overall
effectiveness of the combined assurance model
is monitored and assessed by, and all significant
assurance findings are communicated to, the Audit
and Risk Committee.
The SkyCity Board and management recognise that
a positive culture is fundamental to an effective
risk management framework and instils and
promotes a culture which values the principles
of honesty, fairness, cooperation, diversity and
inclusion, and accountability – as reflected in the
SkyCity Group’s Code of Conduct (available in the
Governance section of the company’s website at
www.skycityentertainmentgroup.com).
The Group Risk team monitors the company’s
culture for indications on how well the risk culture is
performing and/or areas for improvement by way of:
• leadership risk culture surveys conducted
annually across the SkyCity Group;
• mini risk culture surveys conducted as part of
each assurance and risk review;
• bi-annual reviews of various metrics to help
provide a proxy view of risk culture;
• bi-annual presentation of a risk culture
dashboard to the Audit and Risk Committee; and
• regular discussions with management on risk
culture.
Our Material Risks
SkyCity’s ability to create and preserve value for its
shareholders requires the successful execution of
its business strategy, while maintaining a sound
culture and practices to maintain compliance with
responsible gaming frameworks. 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 in the
table overleaf.
51

GENERAL
Material ExposureRisk Management
Highly Regulated Industry
SkyCity operates in the casino industry, which is
highly regulated. The regulatory framework in
which the business operates is not only complex
but also subject to change from time to time, which
may impact the environment in which SkyCity
operates and increase the costs and complexities
of operating its business. In addition, there is an
increased regulatory focus by different regulators of
the casino industry, as well as ongoing pressure to
keep improving SkyCity’s standards.
Potential examples of such changes include
unfavourable changes to gaming and/or smoking
legislation and regulations, licence conditions and
gaming taxes and levies. Such changes may be
introduced for a variety of reasons, including in
response to the behaviour of others operating in the
industry or increased government and regulatory
conservatism in relation to the casino industry in
New Zealand and Australia.
For example, over the past financial year there has
been an increased focus on additional consumer
protection requirements and regulatory oversight
of land-based casino operators in New Zealand
and Australia (including in respect of anti-money
laundering and host responsibility obligations) and
on SkyCity’s ‘social licence’ to operate – see page 58
of this annual report for more details.
The regulatory risk is mitigated by close monitoring
of the evolving regulatory landscape, including
maintaining frequent and transparent engagement
with the governments and regulators in each
jurisdiction in which SkyCity operates and with
industry stakeholders to ensure that expectations
are met and high standards of compliance are
maintained.
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 supports a robust compliance culture
and framework to ensure compliance with
licence conditions and applicable legislation and
regulations.
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 natural
disasters, fire, emergency incidents and pandemics.
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
have worked well in responding to and managing
the ongoing impacts of the global COVID-19
pandemic to date.
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 ensured that SkyCity had 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.
In May 2021, as part of its ongoing capital
management strategy, SkyCity issued $175 million
of six-year, unsecured, unsubordinated, fixed rate
bonds – the proceeds of which were used to reduce
the SkyCity Group's drawings on its bank facilities.
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.
53
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
52
Risk Profile and Management

GENERAL
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.
Master planning also continues to be progressed for
each of the SkyCity sites to explore opportunities
for food and beverage, new gaming spaces and
entertainment offerings.
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 (particularly
around ensuring improved levels of ICT disaster
recovery preparedness) and to keep abreast of the
latest cybersecurity issues and security patches.
Additionally, there is a strong, ongoing focus on
technology project governance, risk management
and assurance.
A management-led Privacy and Cybersecurity
Steering Committee has been established to
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.
Material ExposureRisk Management
Development and Project Risk
(including Return from Major Projects)
SkyCity has a significant project still underway (the
New Zealand International Convention Centre and
Horizon Hotel development in Auckland). Potential
project risks include project delays, supply chain
constraints and project cost overruns.
The COVID-19 pandemic has significant implications
for return on capital invested in major projects.
For example, the ongoing closure of Australian
interstate and international borders over the short
to medium future is expected to impact visitation
and occupancy for the recently opened SkyCity
Adelaide expansion project.

SkyCity seeks to mitigate these risks by continually
monitoring progress by contractors against
contractual obligations, and maintaining robust
project management.
SkyCity has established strong governance and
oversight frameworks for both current and future
major growth projects. SkyCity also ensures
robust governance over capital allocation and
shareholder returns.
Health and Safety Risk
SkyCity has Health and Safety Risk Registers in
place that identify risks in 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 and cuts from
manual task related injuries.

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 its 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.
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.
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 122 of this annual report.
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54
Risk Profile and Management

GENERAL
Tackling Financial Crime
SkyCity is committed to ensuring that it provides
entertaining and profitable, yet safe and
responsible, experiences and environments.
The New Zealand Anti-Money Laundering and
Countering Financing of Terrorism Act 2009
and the Australian Anti Money Laundering and
Counter Terrorism Financing Act 2006 (Cth) place
obligations on certain organisations, including
financial institutions and casinos, to detect and
deter money laundering and terrorism financing
and requires them to take appropriate measures
to guard against money laundering and terrorism
financing. Money laundering is how criminals
disguise the illegal origins of their money. Financers
of terrorism use similar techniques to money
launderers to avoid detection by authorities and to
protect the identity of those providing and receiving
the funds.
At SkyCity, we place great importance on our
anti-money laundering (AML) and countering
financing of terrorism (CFT) obligations throughout
every part of the organisation.
As a casino operator and reporting entity for the
purposes of the AML/CFT legislation in New Zealand
and Australia, SkyCity has the following measures in
place across its land-based casinos:
• an assessment of the money laundering and
financing of terrorism risks that SkyCity could
face in the course of running its business;
• AML/CFT Programmes in New Zealand and
Australia that include procedures to detect,
deter, manage and mitigate money laundering
and the financing of terrorism;
• an AML Compliance Officer appointed in each
of New Zealand and Australia to administer and
maintain the AML/CFT Programmes;
• customer due diligence processes, including
customer identification and verification
of identity;
• suspicious activity reporting, threshold
transaction reporting and auditing of systems
and processes. For example, SkyCity reports any
suspicious activity that may be related to illegal
activity, and cash transactions over $10,000,
to the New Zealand Police and the Australian
Transaction Reports and Analysis Centre
(AUSTRAC) (as applicable); and
• regular internal and external audits and reviews
of AML/CFT compliance.
The Audit and Risk Committee is a dedicated Board
committee that has responsibility for ensuring
compliance with AML/CFT 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
AML/CFT obligations.
Within the business, a specialist AML team oversees
the Group’s ongoing compliance with AML/CFT
requirements and a management-led AML Senior
Management Group provides enhanced governance
to AML/CFT related matters across the Group
and supports the effective implementation of
SkyCity’s AML/CFT obligations across the Group.
SkyCity senior managers and employees engaged
in AML/CFT related duties also receive training on
AML/CFT matters.
SkyCity’s online gaming site, SkyCity Online
Casino, is operated from Malta in partnership with
international iGaming company Gaming Innovation
Group Inc (GiG). GiG has in place an AML/CFT Policy
that includes procedures to detect, deter, manage
and mitigate money laundering and the financing
of terrorism, customer due diligence processes
(including customer identification and verification
of identity), and suspicious activity reporting,
auditing and annual reporting systems and
processes. A Money Laundering Reporting Officer
administers and maintains the AML/CFT Policy.
We continue to explore available technology
solutions and seek expert advice where required to
deliver best practice AML/CFT standards at SkyCity.
Board Governance
& Oversight
SkyCity Board and Audit
and Risk Committee
oversight of anti-money
laundering (AML) compliance
AML
Programmes
AML Programmes
established in New Zealand
and Adelaide outlining
SkyCity’s AML processes
and procedures for
customer screening,
transaction monitoring,
regulatory reporting,
customer due diligence and
enhanced due diligence
(subject to regular internal
and external review)
AML
Roles & Duties
A specialist AML team
(including designated
AML Compliance Officers)
within the business
oversees the Group’s
ongoing day-to-day
compliance with
AML requirements
External
Advisors
Assisted by
experienced
external
AML advisors
Independent
Assurance
An independent review
is carried out every
2–3 years in New Zealand
and Adelaide to monitor
compliance with the
AML Programmes
IT Systems
• Internal IT systems
(Bally and iTrak) used for
AML record keeping
• An external specialist
AML system (Jade ThirdEye)
used to facilitate customer
screening and reporting
AML Risk
Assessment
Each AML Programme
contains a risk
assessment identifying
the money laundering
and terrorism financing
risks that SkyCity may
reasonably expect to face
in the course of its business
Learning &
Development
AML training
programmes
for staff
Senior Management
Governance & Oversight
• An AML Senior Management
Group meets regularly to
discuss AML issues
relevant to the Group
• An Adelaide AML
Senior Management
Committee oversees
AML issues specific
to the Adelaide operations
SkyCity
Anti-Money
Laundering
Control
Framework
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56
Risk Profile and Management

Increased Focus on the Casino Industry
Over the last financial year, there has been an
increased focus on casino operators in Australia as a
consequence of the New South Wales Independent
Liquor and Gaming Authority’s inquiry into the
operation of Crown Casino in Sydney, the Royal
Commission established by the Western Australian
Government to inquire into and report on the affairs
of the Crown Casino Perth and related matters and
the Royal Commission established by the Victorian
Government to inquire into the suitability of Crown
Melbourne Limited to hold a casino licence.
These inquiries have led to increased focus and
scrutiny on SkyCity and other casino operators and
could lead to more stringent regulations for casino
operators in Australia and New Zealand in relation
to money laundering and other financial crimes.
As a result, there are heightened expectations
on SkyCity around its obligations under AML/CFT
legislation and regulations, monitoring cash and
third-party transactions, and undertaking enhanced
due diligence checks on higher risk customers.
Banks in both New Zealand and Australia are also
signalling to casinos that they have a significantly
reduced risk appetite for accepting cash deposits
from higher risk customers.
In April 2021, SkyCity announced, following
completion of a strategic review of its International
Business division, that it would permanently
cease dealing with all junket operators, effective
immediately, and continue to operate its
International Business division under a revised
operating model where SkyCity will deal directly
with International Business patrons after
appropriate know your customer and customer due
diligence requirements are satisfied.
AUSTRAC Enforcement Investigation
In June 2021, SkyCity was informed by AUSTRAC’s
Regulatory Operations Team that it had
identified potential serious non-compliance by
SkyCity Adelaide Pty Limited with the Australian
Anti-Money Laundering and Counter-Terrorism
Financing Act 2006 and Anti-Money Laundering
and Counter-Terrorism Financing Rules Instrument
2007 (No. 1) and it had, consequently, referred the
matter to AUSTRAC’s Enforcement Team which
had initiated a formal enforcement investigation
into the compliance of SkyCity Adelaide. The
potential non-compliance includes concerns
relating to ongoing customer due diligence,
adopting and maintaining an AML/CTF Programme
and compliance with Part A of an AML/CTF
Programme. These concerns were identified in
the course of a compliance assessment which
AUSTRAC commenced in September 2019 focusing
on SkyCity Adelaide’s management of customers
identified as high risk and politically exposed
persons over the periods from 1 July 2015
– 30 June 2016 and 1 July 2018 – 30 June 2019.
AUSTRAC has made clear that it has not made
a decision regarding the appropriate regulatory
response that it may apply to SkyCity Adelaide,
including whether or not enforcement action will
be taken.
The SkyCity Board and management team take the
concerns raised by AUSTRAC very seriously and took
immediate steps to investigate and appropriately
address AUSTRAC's concerns, including:
• establishing a Steering Committee (led by
the Chair of the SkyCity Board) to oversee
SkyCity Adelaide's engagement with AUSTRAC
throughout the investigation process and its
response to addressing the concerns raised by
AUSTRAC; and
• engaging an independent expert to conduct
a comprehensive review of SkyCity Adelaide’s
AML/CTF Programme and broader AML function
in light of the concerns raised by AUSTRAC to
assist SkyCity where appropriate to enhance
and improve the AML/CTF Programme and AML
function. SkyCity has also devoted substantial
further resources to reviewing these matters
with a view to identifying and implementing
appropriate improvements to SkyCity’s AML
function. These reviews have not been limited
in their scope to matters specifically raised
by AUSTRAC - they have also been directed
to identifying areas where SkyCity Adelaide’s
AML/CTF Programme and AML function could be
enhanced or uplifted more generally.
SkyCity will continue to fully co-operate with
AUSTRAC in relation to its inquiries and with its
investigation into SkyCity Adelaide.
GENERAL
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Risk Profile and Management

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 Tourism Holdings
Limited, New Zealand Rural Land Company Limited,
Ara Ake Limited and WEL Networks Limited and
a director of Ultrafast Fibre Limited. Rob has over
30 years’ experience in capital markets and is a
director of, or advisor to, a range of investment fund
and private equity groups in New Zealand, Australia,
Hong Kong and the United States of America. He
was made a Companion of the New Zealand Order
of Merit (CNZM) in the New Year Honours 2020 list
for his services to governance and business.
Rob holds a Bachelor of Arts with First Class
Honours in Economic History and Political Science
and a Master of Philosophy in Economics.
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, 5th
Element Limited, Eat My Lunch Limited, Rubix
Limited, Jade Software Corporation Limited and
Taska Prosthetics Limited. Previous governance
roles include chairing NIWA, the New Zealand
Qualifications Authority and AgriQuality Limited,
and as a director of Restaurant Brands Limited,
Westpac Investments Limited and the New Zealand
Dairy Board. She holds an OBE for her contribution
to New Zealand business.
Sue is a Chartered Fellow of the New Zealand
Institute of Directors and a Companion of the Royal
Society of New Zealand.
GENERAL
Our Board
JENNIFER OWEN
Director
Chair 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 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 Master
of Business Administration from the University of
Queensland, is a graduate of the Australian Institute
of Company Directors’ Diploma course and is a
member of Chartered Accountants Australia and
New Zealand.
MURRAY JORDAN
Director
Chair of the People and Culture Committee
Member of the Audit and Risk Committee
Member of the Sustainability Committee
Member of the Governance and Nominations
Committee
Appointed a director of SkyCity in December 2016
Murray Jordan is currently a director of Metlifecare
Limited, Chorus Limited, Metcash Limited,
Stevenson Group Limited, Asia Pacific Village
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 Master’s degree in Property Administration from
the University of Auckland.
Murray will retire from the SkyCity Board effective
from 30 September 2021.
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60

SILVANA SCHENONE
Director
Member of the People and Culture Committee
Member of the Sustainability Committee
Member of the Governance and Nominations
Committee
Appointed a director of SkyCity in June 2021
Silvana Schenone is a corporate partner at
MinterEllisonRuddWatts in Auckland where
she leads the firm’s Corporate division. She has
extensive expertise in mergers and acquisitions,
private equity investments, takeovers, scheme
of arrangements, capital raisings and corporate
governance matters.
Silvana is recognised internationally for her
commercial acumen and negotiation skills, and
is a thought leader on corporate governance
issues. Prior to joining MinterEllisonRuddWatts in
2007, Silvana was a corporate lawyer at Sullivan
& Cromwell LLP in New York and prior to that at
Cariola Diez Pérez-Cotapos in Chile.
Committed to championing greater diversity,
Silvana is a founding member of OnBeingBold.
She is also a Board member of the New Zealand
Takeovers Panel and holds a Master of Laws from
Harvard University.
JULIAN COOK
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 June 2021
Julian Cook was Chief Executive Officer of
Summerset Group Holdings Limited from 2014 to
March 2021 and, prior to becoming Chief Executive
Officer, Summerset’s Chief Financial Officer where
he oversaw the company’s transition to become a
publicly listed company on the New Zealand and
Australian stock exchanges.
Prior to joining Summerset in 2010, Julian was
an Associate Director at Macquarie Group where
he gained significant experience in the energy,
industrial services, tourism and aged care sectors
over a 12-year career.
Julian is currently a director of WEL Networks
Limited and holds a Master of Finance from
Victoria University and a Master of Science from the
University of Waikato.
GENERAL
CHAD BARTON
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 June 2021
Chad Barton has extensive experience across
finance, capital markets, mergers, acquisitions and
property development. He is currently the Interim
Chief Financial Officer of Nuix Limited, an ASX-listed
global software company, and was the Chief
Financial Officer of ASX-listed companies The Star
Entertainment Group Limited from 2014 to 2019
and Salmat Limited from 2009 to 2014. Prior to this,
he was Chief Financial Officer of the Australia and
New Zealand business of Electronic Data Systems
from 2006 to 2009.
Chad, as founding Chairperson, established Women
in Gaming & Hospitality Australasia to achieve
gender equity and support the development and
success of women in the gaming industry.
Chad is currently a director of NeuRA (Neuroscience
Research Australia) Foundation and a member of
the Australian Institute of Company Directors and
Chartered Accountants ANZ and holds a Bachelor
of Business from the University of Technology
in Sydney.
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Our Board

GENERAL
Our Senior
Leadership
Team
FROM LEFT TO RIGHT:
Nirupa George, Claire Walker, Callum Mallett, Matt Ballesty,
Michael Ahearne, Julie Amey, Jo Wong, Simon Jamieson and Glen McLatchie
Absent: David Christian
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64
Our Senior Leadership Team

GENERAL
MICHAEL AHEARNE
Chief Executive Officer
Michael was appointed Chief Executive Officer in
November 2020. He joined SkyCity in December
2017 as Group Chief Operating Officer and was
responsible for driving value across SkyCity’s
properties in New Zealand and Australia. Michael
also led SkyCity’s online gaming strategy, including
overseeing the establishment of SkyCity Online
Casino in 2019.
Michael’s extensive global experience in the gaming
industry spans over 20 years across multiple
sectors, including 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
leaders in sports betting and gaming. Michael was
formerly the Chief Operating Officer for Aristocrat in
the Australia and New Zealand regions and has held
several senior management positions at The Star
Casino in Sydney.
Michael is a qualified accountant and holds
a Master of Business Administration from the
University of Technology, Sydney.
JULIE AMEY
Chief Financial Officer
Julie joined SkyCity as Chief Financial Officer
in May 2021 and is responsible for the financial
management of SkyCity, including reporting,
treasury, risk management and corporate
development. She also oversees SkyCity’s
Information and Communications Technology
function and helps to drive the strategic direction of
the SkyCity Group.
Julie joined SkyCity from Shell Australia where she
held the role of Vice President Finance Integrated
Gas. She has also held a number of senior finance
roles with the Shell Group around the world since
2001, including as Vice President Finance Qatar
Shell, Chief Financial Officer for Shell & Turcas A.S.
Turkey and Business Finance Manager and Financial
Controller for Upstream Middle East in the United
Arab Emirates. Prior to joining Shell, she held
finance roles at Fletcher Challenge Energy, BBC
Worldwide Publishing and Deloitte & Touche.
Julie is a chartered accountant and holds a
Bachelor of Management Studies from the
University of Waikato.
CALLUM MALLETT
Chief Operating Officer New Zealand
Callum was appointed Chief Operating Officer
New Zealand in February 2021 and has operating
responsibility for SkyCity’s New Zealand
businesses, including the day-to-day operations
of SkyCity Auckland.
Callum has significant gaming and hospitality
experience having held a number of senior roles at
SkyCity since joining in 2009, including as General
Manager of SkyCity Darwin, General Manager
SkyCity Auckland Hotels, Convention Centre and
Sky Tower, and Executive General Manager of
Hospitality for SkyCity Auckland.
Prior to joining SkyCity, Callum held numerous
senior leadership roles across the hospitality,
retail and financial investment sectors. He holds
a Bachelor of Commerce from Victoria University
of Wellington, and has completed studies with
Cornell University, The London Business School and
the University of Nevada.
DAVID CHRISTIAN
Chief Operating Officer Australia
David was appointed
Chief Operating Officer
Australia in February
2021 and is responsible
for SkyCity’s Adelaide
business and overseeing
the Australian interstate
gaming business.
David has more than
30 years’ experience in
hospitality, hotel and
casino management,
including working in several Australian States and
Singapore. He has held a number of senior roles
during his career with SkyCity since joining in 2005,
including General Manager SkyCity Adelaide (where
he was responsible for overseeing the construction
and opening of the A$330 million Adelaide
expansion development), General Manager
SkyCity Darwin, General Manager SkyCity Auckland
and General Manager SkyCity Hamilton.
David holds a Master of Business Administration
from Deakin University, Victoria, and a Diploma
of Hospitality Management from Drysdale House,
Tasmania.
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.
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 over 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 and 2020 New Zealand
Law Awards and was recognised in New Zealand
Lawyer’s 2019 and 2020 In-House Leaders lists as
one of the 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 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
SkyCity’s development projects in New Zealand and
health and safety.
With more than 35 years’ experience in large-scale
hospitality businesses, Simon brings a wealth
of commercial, property, project and tourism
experience to the SkyCity business.
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 over 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 member of the Institute of Directors in
New Zealand, 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,
Australia, and a Bachelor of Business Studies from
Massey University, New Zealand.
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Our Senior Leadership Team

BOARD AND SENIOR LEADERSHIP TEAM STRUCTURE
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 128 – 137 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
Casino Officer
Matt Ballesty
Chief
Corporate Affairs
Officer
Nirupa George
Chief
Financial
Officer
Julie Amey
Chief Operating
Officer
New Zealand
Callum Mallett
Chief Operating
Officer
Australia
David Christian
Chief People
and Culture Officer
Claire Walker
General Counsel and
Company Secretary
Jo Wong
Governance and
Nominations
Committee
STANDING BOARD COMMITTEES
SENIOR LEADERSHIP TEAM
AD-HOC BOARD SUB-COMMITTEES
(established to oversee SkyCity’s major projects)
Audit and Risk
Committee
People and Culture
Committee
Sustainability
Committee
SKYCITY BOARD
CHIEF EXECUTIVE OFFICER
Michael Ahearne
MATT BALLESTY
Chief Casino Officer
Matt was appointed Chief Casino Officer in
February 2021 and is responsible for managing
the casino operations at SkyCity’s largest
property in Auckland and providing strategic
direction on all gaming products across the
SkyCity Group.
Matt has over 25 years’ experience in the gaming
and hospitality sector having held senior
executive positions in Australia, New Zealand,
Macau and Canada. Matt joined SkyCity originally
in 2005, leading the Auckland gaming machines
business and returned in 2013 as General
Manager Group Gaming Strategy after gaining
international gaming and hospitality experience
in Macau.
NIRUPA GEORGE
Chief Corporate Affairs Officer
Nirupa joined SkyCity as Chief Corporate Affairs
Officer in June 2021 and is responsible for leading
SkyCity’s corporate affairs activities, including
government, community and industry stakeholder
relations and SkyCity’s public policy and advocacy.
Before joining SkyCity, Nirupa was Chief of Staff to the
Mayor of Auckland responsible for running his office
and executing the Mayor’s political priorities. Prior
to this, she ran Mayor Phil Goff’s successful mayoral
campaign in 2016 and worked in Parliament as a
Political and Media Advisor. Early in her career, Nirupa
was a Senior Solicitor specialising in refugee and
humanitarian law.
Nirupa is currently a board member of Amnesty
International Aotearoa New Zealand and holds a
Bachelor of Laws and a Bachelor of Health Science
from the University of Auckland.
SkyCity Hamilton is located on the banks of the Waikato River.
GENERAL
69

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.
As a casino operator, we must continually focus on
our social licence to operate. 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, our environment and
our shareholders. 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 Sustainability Framework
and Strategy
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. As part of this review,
internal and external stakeholders were asked
to prioritise issues material to SkyCity’s business
from a long list of potentially material issues via
a desktop review. SkyCity’s sustainability strategy
was subsequently refreshed to reflect the priorities
identified in that review and to incorporate
financial performance alongside social and
environmental performance.
SUSTAINABILITY
Part of being a
responsible business
is understanding the
impacts arising from
our operations
“
”
In July 2021, the Sky Tower
was once again awarded the
Qualmark Gold Award.
A Gold Award recognises
the best sustainable tourism
businesses in New Zealand and
identifies businesses leading
the way in making the
New Zealand tourism industry
a world-class sustainable
visitor destination.
71

SUSTAINABILITY
Our Material Issues
(as prioritised by our internal and external stakeholders)
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 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.
Governance
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 2021. Commentary on the ‘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.
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.
3.00
3.60
4.60
4.50
4.40
4.30
4.20
4.10
4.00
3.90
3.80
3.70
3.203.403.60
Stakeholder View
Business View
3.804.004.204.404.60
Community
investment
Technology
innovation
Growth
Climate
change
Sustainable
portfolio
Business
model
Operational
efficiency
Return on
investment
Business
continuity
Diversity
Health &
safety
Employee
engagement
Organisational
structure
Cyber-
security
Regulatory
risk
Theft &
fraud
Responsible
hosting
Customer
experience
Community
& Iwi
engagement
73
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72
Sustainability

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
Create a great place to work
where people are empowered
to grow and achieve
Respect and protect our
physical environments for
future generations
Ensure business continuity through
operational efficiency, sustainable
investment and customer focus
Inspire our peopleProtect our environmentsCreate sustainable value
SUSTAINABILITY
75
SkyCity Entertainment Group Annual Report Year Ended 30 June 2021
74
Sustainability

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
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
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
• Develop and maintain a modern slavery statement for the
purposes of the Modern Slavery Act 2019 (Cth)
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
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
SUSTAINABILITY
77
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76
Sustainability