ANNUAL RESULT FOR THE YEAR ENDED 30 JUNE 2023

Results for Announcement to the Market
Name of issuer SkyCity Entertainment Group Limited (SkyCity)
Reporting period 12 months to 30 June 2023
Previous reporting period 12 months to 30 June 2022
Currency New Zealand dollars
Reported Amount (million) Percentage change
Reported revenue from
continuing operations
1

$926.2 44.9%
Total reported revenue
1
$926.2

44.9%
Reported profit (loss)
from continuing
operations
$8.0 123.7%
Reported total net profit
(loss)
$8.0 123.7%
Normalised Amount (million) Percentage change
Normalised revenue
including gaming GST
$966.7 53.1%
Normalised total net
profit (loss)
$138.8 1331.6%

Notes:
- ‘Reported’ information is per the financial statements;
- ‘Normalised’ results set International Business win to a theoretical win rate of 1.35%
and adjust for certain revenue and expense items. Reconciliation between reported
and normalised financial information is provided at the end of this announcement;
- ‘EBITDA’ means earnings before interest, tax, depreciation and amortisation;
- ‘EBIT’ means earnings before interest and tax;
- ‘NPAT’ means net profit after tax; and
- certain totals, subtotals and percentages may not agree due to rounding.



1
On the Income Statement, this is the total of revenue, other income and fire related
income.

Final Dividend
Amount per Quoted
Equity Security
$0.060
Imputed amount per
Quoted Equity Security
$0.0233
Record Date 8 September 2023

Dividend Payment Date 22 September 2023

Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$1.2375 $1.2250
A brief explanation of any
of the figures above
necessary to enable the
figures to be understood
SkyCity’s FY23 performance is set out in the company’s
Investor Presentation attached to this announcement,
which provides detail and explanatory comment on:
operating and financial performance for each
business unit and the SkyCity Group as a whole; and
various other relevant aspects of the financial
performance
for the year ended 30 June 2023.

The Investor Presentation will be available on the
company’s website from 23 August 2023.
Authority for this announcement
Name of person
authorised to make this
announcement
Jo Wong
Contact person for this
announcement
Jo Wong
Contact phone number 09 363 6143
Contact email address jo.wong@skycity.co.nz
Date of release through
MAP
23 August 2023

Audited financial statements accompany this announcement.

Reconciliation between Reported and Normalised Financial Information

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Net debt to EBITDA ratio
$m
Total Group Borrowings
Total Liquidity Headroom
Debt Gearing Ratio
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FY23FY24FY25FY26FY27FY28FY29
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USPP DebtNZ Retail BondBank Revolving Credit Facility

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Year Ended 30 June 2023
Annual Report

Contents
HYBRID ANNUAL MEETING
The 2023 SkyCity Annual Meeting will be held at
the SkyCity Theatre, Level 3, SkyCity Auckland,
Corner of Wellesley and Hobson Streets, Auckland,
and online on 27 October 2023 commencing at
11am (New Zealand time).
Instructions and further details on how shareholders
can participate in the Annual Meeting will be
included in the Notice of Meeting to security holders.
SkyCity Entertainment Group Limited has been
designated as ‘Non-Standard’ by NZX Limited due
to certain restrictions in the company’s constitution.
See pages 134-135 of this annual report for further
details.
4GENERAL
4Report f rom the Chair and
Chief Executive Officer
8About this Annual Report
10Year in Review
12Creating Value
18Performance
20Contributing to our Communities
22Group Strategy
24Diversity Snapshot
26About SkyCity
28 Auckland
30 Adelaide
32 Hamilton
34 Queenstown
36 Online
38Risk Management
44Our People
44 Our Board
47 Our Senior Leadership Team
52 Our Workforce
64SUSTAINABILITY
64Sustainability
68Our Customers
82Our Community
90Our Environment
102
CORPORATE GOVERNANCE
STATEMENT AND OTHER
DISCLOSURES
102Corporate Governance Statement
114Remuneration Report
126Shareholder and Bondholder Information
130Directors’ Disclosures
132Company Disclosures
136FINANCIAL STATEMENTS
137Independent Auditor’s Report
144Income Statement
145Statement of Comprehensive Income
146Balance Sheet
148Statement of Changes in Equity
149Statement of Cash Flows
150Notes to the Financial Statements
206
RECONCILIATION OF NORMALISED
RESULTS TO REPORTED RESULTS
209GRI CONTENT INDEX
212GLOSSARY
213DIRECTORY
the home of entertainment
for over 25 years
Welcome to
SkyCity
3
GENERAL
2
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

A Year of Re-emerging Performance
The 2023 financial year was marked by the recovery of
SkyCity’s core operations with the Group’s operating
earnings exceeding pre COVID-19 levels on a like-for-like
basis – our businesses not having been impacted by
COVID-19 related closures or trading restrictions (unlike
the prior comparable period). This result was achieved
against the backdrop of a weaker macroeconomic
environment in New Zealand and Australia due to the
impact of higher interest rates, inflationary pressures
and recovering immigration. The strong performance
of our operating businesses is testament to their
underlying quality.
Throughout the year, the management of regulatory
issues has continued to occupy a considerable amount
of Board and management focus. We recognise the
importance of retaining our social licence to operate and
are committed to upholding standards commensurate
with this. This does not mean minimum compliance with
regulatory obligations. Since the commencement of the
Australian Transaction Reports and Analysis Centre’s
(AUSTRAC) enforcement investigation into SkyCity
Adelaide Pty Limited (SkyCity Adelaide), the operator of
the SkyCity Adelaide casino, two years ago, we have made
considerable investment to uplift our financial crime
and host responsibility systems in Adelaide, and we are
extending this investment into the broader New Zealand
business and our Group management and governance
systems to ensure we stay ahead of expectations.
These changes have meant that it is harder for some
customers to qualify to play in our premises and some
forms of business are no longer undertaken, such as
junket play. This has impacted revenue in some segments
of the business although the ongoing steady growth of
the mass market segments has offset this.
Progress on the New Zealand International Convention
Centre (NZICC) rebuild has been good although
negotiating the repurchase of the long term concession
granted over our SkyCity Auckland car parks has proved
challenging with the counterparty to this transaction
proving intransigent and difficult.
The contribution of the New Zealand operations has
again been led by the performance of the SkyCity
Auckland business, where both gaming and non-gaming
revenues have benefited f rom a full year of operation and
significant improvement in customer visitation.
Revenue f rom electronic gaming machines (EGMs) in
Auckland returned to pre COVID-19 levels by the end
of the financial year as a result of strong local visitation
(particularly on weekends), investment in new products
and customer promotions. Auckland table games
revenue was slower to recover with table games opening
hours impacted by staffing pressures during the year and
lower local VIP table games visitation. However, we expect
the Auckland table games performance to improve as
international tourism returns and table games opening
hours increase.
Our Auckland hotels, bars, restaurants and attractions
(including Sky Tower) grew progressively over the
financial year, accounting for 24% of total revenue f rom
the Auckland business for the period. Our food and
beverage portfolio is a key driver of visitation to the
Auckland precinct and was bolstered by two new outlet
openings in 2023 – Cassia, an award-winning Indian
restaurant within the SkyCity Grand Hotel, and Sky Bar,
an up-market cocktail bar at the top of the Sky Tower
opened in partnership with Moët & Chandon. Pleasingly,
there were margin improvements across this portfolio
over the period as a result of productivity initiatives and
operational efficiencies, including the utilisation of QR
ordering and robot waiters at Andy’s Burgers & Bar.
The growth in the SkyCity Auckland business will be
underpinned by strong demographic and economic
drivers with the forecast increase in international tourism
supporting the entertainment and hospitality industry
across the next decade. Once completed, the NZICC and
Horizon Hotel, plus the new City Rail Link (a new
$5.5 billion underground rail system being constructed
in the Auckland CBD), will drive increased visitation to
the SkyCity Auckland precinct.
The SkyCity Hamilton business continued to trade well
over the period, returning to pre COVID-19 levels of
earnings. The opening of a new restaurant tenancy, EGM
product investment and increased table games opening
hours improved the customer experience and supported
gaming revenue over the period. Property improvements
currently underway are expected to further underpin
growth in both gaming and non-gaming earnings in the
2024 financial year.
The consolidated SkyCity Queenstown business
performance was strong despite higher operating costs
and staff shortages. Revenue was impacted by lower
tourist numbers to the region and casino trading hours
were curtailed by a shortage of staff. We expect trading to
improve as international visitors return, starting with the
current winter seasonal boost around snow sports.
Trading in Adelaide over the last financial year was
negatively impacted by the slowing South Australian
economy, the ongoing regulatory focus and resulting
additional legal and compliance costs, and a lower level
of VIP play compared to previous years. However,
non-gaming revenue improved significantly in 2023
as a result of the investment in the property over the
last five years.
Our International Business, which has previously been
centred on hosting international VIPs, was restructured
over the past year and is now focused on domestic,
interstate Australian VIP customers. Significant
operational changes have been made as a result,
including capping table games differentials.
The online casino business has contributed significantly
to Group earnings despite online EBITDA declining
year on year. This was due to the New Zealand market
continuing to be aggressively targeted by offshore
operators in breach of local marketing regulations.
SkyCity does not operate in this way and has lost market
share as a result. The Group continues to advocate for
the introduction of online gaming regulation that is
appropriate for the New Zealand online gaming industry.
Operational Performance
For the 12-months ended 30 June 2023, normalised Group
EBITDA was $310.3 million and normalised Group NPAT
was $138.8 million, and reported Group EBITDA was $165.9
million and reported Group NPAT was $8.0 million.
Normalised Group EBITDA of $310.3 million was up 125%
on the previous financial year, reflecting a full year of
operations uninterrupted by COVID-19 closures of the prior
year. Normalised Group NPAT was significantly higher than
the prior year (up 1332%) due to the higher level of EBITDA
and aided by a lower net interest cost.
SkyCity’s New Zealand operations performed well over the
period with normalised EBITDA of $291.9 million up 127%
f rom the prior comparable period and reported EBITDA of
$255.5 million (up 102.5%). This was driven predominantly
by a significant increase in normalised EBITDA for the
Auckland property with gross gaming revenue of
$444.9 million, up 71% f rom $260.5 million previously, and
non-gaming revenue of $123.9 million (up 77%) due mainly
to there being no COVID-19 related closures over the period.
SkyCity Adelaide’s performance was significantly
impacted by the ongoing regulatory matters and focus,
which impacted visitation and resulted in significant
operating costs. Despite this, SkyCity Adelaide's normalised
EBITDA of $34.9 million was 70% higher than the prior
period ($20.5 million) due to an increase in gaming
machine and non-gaming revenues offset by higher
operating costs, including A$8 million of legal and
compliance expenses.
SkyCity Online Casino EBITDA (attributable to SkyCity) of
$10.7 million was down 17% f rom $12.9 million in the prior
comparable period with the increase in gross gaming
revenue being offset by higher bonusing and jackpots, and
increased costs of operating the online platform.
Reinstatement works on the NZICC have progressed well
over the period, with construction of the new roof expected
to be completed by December 2023. We expect that the
building will be reinstated to the state it was in just prior
to the devastating fire in October 2019 in early 2024 - an
important and key milestone. This also gives us confidence
around the contractor’s latest programme which indicates
that the Horizon Hotel will be completed in 2024 and the
NZICC in 2025. We have already started taking bookings
for conferences f rom mid-2025 with strong interest f rom
offshore organisations looking to host their events in
New Zealand.
In March 2023, SkyCity drew down US$75 million in funding
f rom the issue of US Private Placement notes to partially
fund the buy-back of the long term concession granted
over the SkyCity Auckland car parks f rom MPF Parking
NZ Limited. However, as at the date of this annual report,
the termination of the Auckland Car Park Concession
Agreement has not completed, resulting in $6.2 million of
interest revenue over the period. This led to net interest
expense of $23.5 million, down f rom $35.0 million in the
previous year.
Report
from the Chair and
Chief Executive Officer
5
GENERAL
4
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

Julian Cook
Chair of the SkyCity Board
Michael Ahearne
Chief Executive Officer
As at 30 June 2023, gross debt was $522 million, cash at
hand was $245 million and net debt was $443 million.
SkyCity has significant funding headroom in its debt
facilities with $390 million of its debt undrawn and its
current ratio of net debt is 1.5x EBITDA, well within the
company’s banking covenants and consistent with
its BBB- credit rating f rom S&P Global Ratings which
was reconfirmed as “Stable” outlook during June 2023.
Management expects net debt to increase in the coming
year given a return to a more normal year of maintenance
capital expenditure and some large one-off payments
– however, SkyCity is expected to remain comfortably
within its mandated debt thresholds.
Given its improved financial performance over the period,
SkyCity paid an interim dividend of 6 cents per share in
March 2023 and has announced a final dividend of
6 cents per share payable to qualifying shareholders on
8 September 2023 - consistent with our dividend policy
of paying 60% – 90% of normalised NPAT per annum.
Regulatory Focus
On 7 December 2022, AUSTRAC filed civil penalty
proceedings in the Federal Court of Australia against
SkyCity Adelaide alleging serious and systemic
contraventions of its obligations under the Australian
Anti-Money Laundering and Counter Terrorism Financing
Act 2006 following an enforcement investigation
commenced by AUSTRAC in June 2021. At the date of
this annual report, the proceedings remain at a relatively
early stage with AUSTRAC and SkyCity Adelaide currently
working toward agreeing facts and potential admissions
before the Court identifies a process for any remaining
disputed issues (if any) and potential penalty to be
determined. SkyCity continues to engage with AUSTRAC
and expects the proceedings will be resolved during the
2024 financial year.
On 7 February 2023, Consumer and Business Services
(CBS), the South Australian gaming regulator, announced
that the Honourable Brian Martin KC’s independent
review into the suitability of SkyCity Adelaide to continue
to hold the SkyCity Adelaide casino licence and the
suitability of SkyCity to continue to be a close associate
of SkyCity Adelaide (which commenced in July 2022)
had been placed on hold pending the resolution of the
AUSTRAC proceedings. The South Australian Liquor
and Gambling Commissioner also announced that he
was considering his options regarding any action he
should take while the independent review was on hold.
Subsequently, on 29 May 2023, the Commissioner issued
a direction notice to SkyCity Adelaide under section 10
of the Gambling Administration Act 2019 (SA) requiring
SkyCity Adelaide to appoint an independent expert
to review its anti-money laundering and countering
financing of terrorism (AML/CFT) and host responsibility
enhancement programmes, monitor the implementation
of those enhancement programmes by SkyCity Adelaide
and SkyCity Adelaide’s compliance with its AML/CFT and
gambling harm minimisation obligations, and report
back to the Commissioner on those matters - to provide
an independent perspective of SkyCity Adelaide’s
AML/CFT and host responsibility enhancement
programmes and an additional layer of assurance.
SkyCity Adelaide is working with the Commissioner to
finalise the appointment of the independent expert,
and will continue to work pro-actively and cooperatively
with the Commissioner to provide the additional layer of
assurance required.
On 14 August 2023, SkyCity announced that it had
recognised a A$45 million (NZ$49 million) provision on
its balance sheet as at 30 June 2023 in accordance with
accounting standards for a potential AUSTRAC civil
penalty and associated legal costs. This provision is an
estimate of the potential exposure to penalties and legal
costs associated with the proceedings, and considers
a wide range of parameters that could potentially be
considered by AUSTRAC and the Court. The provision,
including how it was arrived at, is outlined in more detail in
note 30 to the FY23 financial statements on page 187
of this annual report. It is important to note that the
estimate of the amount of the provision was made on the
basis of all relevant information available to SkyCity at the
time and in the context of considerable uncertainty (as
outlined in note 30), and any eventual civil penalty applied
to SkyCity Adelaide may be materially higher or lower than
the provision.
A Commitment to Continuous Improvement
The SkyCity Board and management remain committed
to ensuring that SkyCity provides safe and responsible
experiences and environments for its people and
customers.
We are acutely aware that in Adelaide we have not met the
standards which we need to hold ourselves to. Accordingly,
there has been a significant focus on, and investment in,
the continuous improvement of the business in Adelaide
and the Board is happy with progress in this area. It is
critical that we are not complacent in terms of our New
Zealand operations and work is therefore underway to
take the learnings f rom Adelaide and look to how we can
improve our New Zealand operations in respect of our
AML/CFT obligations.
The Board has made a number of changes over the last
year which support this refocus on core compliance
systems and processes - these include completing a ref resh
of the Board, the appointment of independent directors
to the SkyCity Adelaide Board, the creation of a dedicated
Board Risk and Compliance Committee to take carriage of
our AML/CFT and host responsibility obligations (among
other key obligations), the appointment of a Chief Risk
Officer, and moving the AML/CFT and host responsibility
teams’ reporting line directly to the Chief Risk Officer.
Across the Group over the period, we have further
enhanced and invested in our internal AML/CFT and host
responsibility resourcing and capability, processes and
systems. For example, we have enhanced our approach
to ongoing customer due diligence, and completed more
customer assessments than ever before. In Adelaide, we
have also piloted a daily cash limit per player for buy-ins
and cash outs, and players within the premium gaming
areas can only conduct ‘carded’ play (where all gaming
activity is recorded). The additional people and resources
have necessarily increased the cost base, but it is essential
that these areas of the business in particular are resourced
appropriately.
We continue to explore available technology solutions
where possible to improve our ability to prevent and
minimise harm f rom problem gambling. Over the period,
we enhanced our facial recognition technology at our
Auckland and Hamilton properties to monitor continuous
play periods, and we trialled the use of facial recognition
technology to monitor repeat withdrawals and multiple
declined transactions at some of our Auckland ATMs for
indicators of problem gambling. We are progressing the
rollout of this technology at our Auckland and Hamilton
properties initially.
Looking longer term, cashless gaming and the
introduction of mandatory carded play are starting
to make their way into Australia in the wake of the
regulatory issues in the sector. The technological
challenges to achieve this are not insubstantial, but as
a business we are committed to moving towards this
over time. We have introduced initiatives to test carded
play and cashless gaming in our properties and are
developing detailed planning to achieve this. We have
already achieved very high levels of carded play with
more than 90% of gaming turnover being tracked in our
VIP areas. Work is also under way to enable mandatory
carded play which will create greater cashless optionality.
This will likely encourage further use of technology like
QuickPay – an electronic customer wallet available to
gaming machine customers that already has over 50%
uptake in our VIP areas.
Changes to Board
There has been further renewal of the Board over
the period with the departure of two non-executive
directors (Jennifer Owen and Silvana Schenone) and the
appointment of three new non-executive directors.
In September 2022, Kate Hughes and Glenn Davis
were appointed to the Board with Mr Davis also being
appointed as Chair of the SkyCity Adelaide Board. Both
are experienced non-executive directors across a number
of industries. Ms Hughes is a board member of the
Australian Prudential Regulation Authority and is Chair of
the Authority's Audit and Risk Committee. Mr Davis has
practised as a solicitor in corporate and risk throughout
Australia for over 35 years.
David Attenborough was appointed to the SkyCity Board
in March 2023 and brings with him strong gaming
experience having been the Chief Executive Officer
and Managing Director of ASX-listed Tabcorp Holdings
Limited and, prior to this, the Chief Executive Officer
(South Af rica) of Phumelela Gaming and Leisure.
On 20 July 2023, we announced our intention to
appoint Donna Cooper to the SkyCity Board, subject to
regulatory approvals being obtained. Donna has extensive
experience in the financial services industry, most
recently as Chief Executive of TSB Bank Limited where
she led an extensive transformation of the culture and
processes around AML/CFT and compliance. Donna will
fill a vacancy left by Sue Suckling who has indicated her
intention to step down f rom the Board.
The Board also intends to appoint a seventh director over
the next year to complement the current mix of skills and
experience.
The Board intends to seek an increase to the
non-executive directors’ fee pool at the upcoming
2023 SkyCity Annual Meeting to provide the Board with
sufficient headroom to appoint the seventh director
and to meet the fees payable to the independent
non-executive directors on the separate SkyCity Adelaide
Board and any ad-hoc Committee fees – see the
Remuneration Report in this annual report for further details.
FY24 Outlook
Recent trading has seen a lift in visitation and spend in
our non-gaming business in Auckland, and this trend
has continued into the current financial year buoyed by
the 2023 FIFA Women’s World Cup tournament in July
and August 2023, which has had an incrementally positive
impact on our Auckland operations.
We see a continued recovery in tourism combined with
improved staff availability as positive factors for the year
ahead. These could be offset by an uncertain economic
environment with continued inflationary pressures, some
one-off project costs, and further investment in risk and
AML/CFT capability. Additionally, initiatives that we have
recently implemented and are continuing to execute
in FY24 should support our future earnings growth and
mitigate some of the cost pressures. A good example of
these initiatives is a recent restructuring of the cost base
at Adelaide to ensure that the business is more aligned
with its future focus.
The opening of the Horizon Hotel in Auckland in the
second half of FY24 will incur some pre-opening costs
and its operation will take some time to ramp up. We also
expect car park earnings to be integrated into Auckland
operating earnings in FY24 although the exact timing is
uncertain.
Provided there are no material changes to the operational
environments and trading conditions, normalised Group
EBITDA in the current financial year is expected to be
modestly higher than for the 2023 financial year.
Our thanks to the SkyCity Board, employees across
the business, and our external stakeholders for their
continued focus and support of the business over the last
financial year.
7
GENERAL
6
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

About this
Annual Report
IMAGE: SkyCity Adelaide casino
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 2023. Where appropriate, information is also
provided in relation to activities that have occurred after
30 June 2023.
This annual report has been prepared in accordance with
the NZX Listing Rules, the NZX Corporate Governance
Code (1 April 2023 Edition), 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
the Australian Securities Exchange, 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. A GRI reference index based on the GRI
Sustainability Reporting Standards is included on pages
209-211 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) f rom International
Business, which has variable turnover and actual win
percentage period to period, and eliminating structural
differences in the business between periods.
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
206-208 of this annual report.
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.
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/or questions in relation to
SkyCity’s sustainability f ramework and/or reporting, please
contact SkyCity at sustainability@skycity.co.nz.
This annual report is dated 23 August 2023 and is signed on
behalf of the SkyCity Board by:
Julian Cook
Chair of the SkyCity Board
Chad Barton
Chair of the Audit Committee
9
GENERAL
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL
8

Year in Review
2022
2023
FEBRUARY
MARCH
FY23 interim result
announced with
reported NPAT of $22.8
million (up 167.8% f rom
the prior period) and
normalised NPAT of $73.1
million (up 474.3% f rom
the prior period)
Dividend of $0.06 per
ordinary share paid to
shareholders
$
22.8million
REPORTED NPAT
$
73.1million
NORMALISED NPAT
Independent review of SkyCity
Adelaide put on hold by the South
Australian gaming regulator
pending resolution of AUSTRAC’s
civil penalty proceedings
The NZICC staff car
park reopens to
SkyCity employees
JANUARY
David Attenborough
appointed as a
non-executive director
to the SkyCity Board
MAY
APRIL
JUNE
Award-winning Indian
restaurant, Cassia, by Chef
Sid Sahrawat, opens at
SkyCity Auckland
Carolyn Kidd
joins SkyCity as
Chief Risk Officer
The South Australian gaming
regulator issues a direction
notice requiring SkyCity Adelaide
to appoint an independent
expert to review, and monitor its
implementation of, its AML/CFT and
host responsibility enhancement
programmes in Adelaide
Sky Bar, New Zealand’s
highest bar, opens
at the top of the Sky
Tower in partnership
with Moët & Chandon
Awarded a Gold Award
(General Awards)
and a Silver Award
(Sustainability Reporting
Awards) at the 2023
Australasian Reporting
Awards for SkyCity’s 2022
annual report
Honourable Brian
Martin AO KC appointed
by the South Australian
gaming regulator
to undertake an
independent review of
SkyCity Adelaide
(the operator of the
SkyCity Adelaide casino)
JULY
FY22 full year result
announced with
reported NPAT of
-$33.6 million
(down 121.6% over
the prior period)
and normalised
NPAT of $9.7 million
(down 89.2% over
the prior period)
AUGUST
SEPTEMBER
Sky Tower celebrates
its 25th birthday
-
$
33.6
million
REPORTED NPAT
$
9.7
million
NORMALISED NPAT
Kate Hughes and Glenn Davis
appointed as non-executive
directors to the SkyCity Board
SkyCity Hamilton
celebrates its 20th
birthday
OCTOBER
MPF Parking NZ Limited
terminates its long term
concession over the SkyCity
Auckland car park
NOVEMBER
SkyCity secures an additional
US$125 million in United States
Private Placement funding
US
$
125million
DECEMBER
AUSTRAC commences civil
penalty proceedings in the
Federal Court of Australia
alleging contraventions of
SkyCity Adelaide's obligations
under the Australian
Anti-Money Laundering and
Counter-Terrorism Financing
Act 2006
11
GENERAL
10
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

Creating Value
Our Business
(as at 30 June 2023)
5
properties across
New Zealand^
and Australia
HOTELSHOSPITALITY
5
^
land-based casino
licences
12
bars
GAMING
307
table games
378
automated table games
3,456
electronic gaming machines
19
restaurants
755
hotel rooms
SKY TOWERCONVENTIONS
328
metres tall
4,559
staff
FY23 REVENUE BY BUSINESS ACTIVITY
FY23 REVENUE BY BUSINESS PROPERTY
1
online
casino
^ Includes the SkyCity Wharf Casino in Queenstown which has remained closed since March 2020 at
the commencement of the first COVID-19 lockdown in New Zealand.
1,250 sqm
of SkyCity convention space
REPORTED
NORMALISED
77%
GAMING
(LAND-BASED)
74%
GAMING
(LAND-BASED)
4%
OTHER
3%
OTHER
8%
HOTELS AND
CONVENTIONS
7%
HOTELS AND
CONVENTIONS
12%
FOOD AND
BEVERAGE
11%
FOOD AND
BEVERAGE
2%
GAMING
(ONLINE)
2%
GAMING
(ONLINE)
REPORTED
28%
ADELAIDE
2%
ONLINE
8%
HAMILTON
1%
QUEENSTOWN
59%
AUCKLAND
2%
INTERNATIONAL BUSINESS
NORMALISED
27%
ADELAIDE
2%
ONLINE
8%
HAMILTON
1%
QUEENSTOWN
59%
AUCKLAND
3%
INTERNATIONAL BUSINESS
13
GENERAL
12
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

* Includes gaming GST.
** Calculated by reference to customers who used their SkyCity customer
loyalty card 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.
FY23 Outputs and Financial Results
FY23 revenue and annual visitation
GAMING
$
654.5 million
including online (reported)
$
758.6 million*
including online (normalised)
2.2 million
visits f rom loyalty card members to
our land-based casinos**
HOSPITALITY
$
105.4 million
4.4 million
restaurant/bar covers
HOTELS
$
57.9 million
219,698
rooms occupied
$
15.5 million
404,525
visits
SKY TOWER
$
9.3 million
119,739
conference delegates
CONVENTIONS
(including out catering)
$
28.4 million
in interest paid to lenders
CONTRIBUTIONS
$
189.5 million
in taxes to Governments
(including GST, income tax,
and gaming tax and duties)
$
307.9 million
in remuneration and benefits
to staff
$
91.1 million
in dividends declared for
shareholders (in relation to
the FY23 period)
$
10.1 million
in community contributions,
levies and sponsorships
$
281.0 million
to suppliers
$
262.9 million
of capital invested
15
GENERAL
14
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

FY23 Outcomes and Impacts
Our sustainability vision recognises that to be a
sustainable business we must be a responsible business.
1,087 customers*
identified within our casino properties
in breach of their exclusion orders
during FY23
FY22 - 629
1,288
issued across our casino properties during FY23
FY22 - 901
exclusion*
orders
See pages 64-101 of this annual report for further details of our sustainability activities and
achievements over the financial year ended 30 June 2023.
“I get to connect with a range of community
groups that support our communities through
the SkyCity New Zealand Community Trusts.
The needs of our communities are varied,
and I am privileged to sit and talk with many
community organisations and hear how they
see their communities and their needs and
aspirations.
Project Nikau, SkyCity’s youth employment
programme for rangatahi Māori and Pasifika,
has grown immensely this year. It’s exciting
to be part of this journey as we support
young people on their employment journey
at SkyCity.”
Raewynne Jacobs
General Manager, Community Operations
SkyCity Community Trusts and Project Nikau
OUR
CUSTOMERS
OUR
COMMUNITY
OUR
ENVIRONMENT
* The increase in exclusion orders issued, exclusion-related breaches and carbon emissions in FY23 reflects a return to a full year of operations.
In FY22, SkyCity's land-based casinos were significantly impacted by COVID-19 closures and operating restrictions.
8.8% reduction
in waste sent to landfill by SkyCity since 2015
202 tonnes
of food waste from our Auckland kitchens sent
to be commercially composted
Over
Trialled the use of
facial recognition
technology in ATMs
to monitor for potential indicators
of problem gambling
$
52.2 million
paid in gaming taxes and problem
gaming levies
FY22 - $34.3 million
Over
$
540 million
paid to suppliers of goods and services
during FY23 (including capital expenditure)
FY22 - over $446 million
$
4.5 million
paid to the SkyCity New Zealand
Community Trusts
FY22 - $3.0 million
A record
$
5.3 million
in grants was approved by the SkyCity
New Zealand Community Trusts to
122 community organisations in FY23
17,107 tonnes CO
2
e*
total carbon footprint
FY22 - 16,144 tonnes CO
2
e
17
GENERAL
16
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

Performance
FY23 Highlights
Our Performance History
SkyCity delivered a solid financial performance for the financial year ended 30 June 2023 marked by the recovery of
SkyCity’s core casino operations as the business returned to a full year of operation.
In the prior comparable period, SkyCity’s result was significantly impacted by the COVID-19 pandemic - Government
mandated lockdowns and restrictions resulted in the closure of the SkyCity Auckland property for 107 days over the
period, the closure of the SkyCity Hamilton property for 65 days, the closure of the SkyCity Queenstown property for
22 days and the closure of the SkyCity Adelaide property for 8 days. When permitted to reopen, SkyCity’s properties
operated with significant operational constraints due to restrictions on mass gatherings and physical distancing
requirements during much of the period.
REVENUE
FY22 -
$
639.0 millionFY22 -
$
631.5 million
44.9
%
53.1
%
EBITDA
FY22 -
$
96.9 millionFY22 -
$
137.9 million
71.1
%
125.0
%
NPAT
FY22 - (
$
33.6) millionFY22 -
$
9.7 million
123.7
%
1331.6
%
DIVIDENDS PER SHARE
FY22 - 0.0 cents per share
12.0
12.0
cents
cents per share
EARNINGS PER SHARE
FY22 - (4.4) cents per share FY22 - 1.3 cents per share
123.7
%
1331.6
%
cents per sharecents per share
GROUP EBITDA
10015030035015010025020025030035005050200
$million
FY23
FY22
FY21
FY20
FY19
REPORTED
NORMALISED
97138
310
343
201
249314
166
348
298
* Net debt is calculated as Group debt less cash in bank.
EARNINGS PER SHARE (EPS) AND DIVIDENDS PER SHARE (DPS)
GROUP REVENUE
$million
FY23
FY22
FY21
FY20
FY19
02004002004006006008008001,0001,0001,2001,200
REPORTED
NORMALISED
(including gaming GST)
8221,119
1,125780
952822
639
926
631
967
ENTERPRISE VALUE
100010000500500
$million
15002,0002,5003,000
FY23
FY22
FY21
FY20
FY19
NET DEBT*
EQUITY VALUE
2,548
1,767
2,668
2,212
1,733
633
485
590
541
488
3,036
2,308
3,258
2,845
2,218
FY23
FY22
FY21
FY20
FY19
05.0-5.010.015.025.020.035.030.0
REPORTED EPS
DECLARED DPS
NORMALISED EPS
cents per share
35.4
10.0
10.0
20.0
25.6
21.4
11.9
20.6
7.0
18.3
12.0
1.1
-4.4
1.3
0.0
$
926.2 million
REPORTED
$
966.7 million
NORMALISED
$
165.9 million
REPORTED
$
310.3 million
NORMALISED
$
8.0 million
REPORTED
$
138.8 million
NORMALISED
1.1
REPORTED
18.3
NORMALISED
19
GENERAL
18
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

Contributing to
Our Communities
Our SkyCity Community Trusts
Since 1996, SkyCity has awarded more than 5,100 grants
totalling over $71.5 million to various community groups
and organisations in New Zealand through the SkyCity
Community Trusts.
A record $5.3 million in grants was approved by
the SkyCity Community Trusts to 122 community
organisations over the financial year ended 30 June
2023 - see page 89 of this annual report for details of
the community groups and organisations who received
grants over the last financial year.
Award-winning Experiences
We are immensely proud that our businesses have again
been recognised for delivering excellence over the period.
Eos by SkyCity was named:
• joint winner of the Luxury Hotel category at the
2022 Hotel Management Awards for Hotel and
Accommodation Excellence;
• winner of the 5 Star Luxury Accommodation category
at the 2022 South Australian Tourism Awards;
• winner of the Deluxe Hotel Accommodation,
Best Overall Hotel, and Environmental & Energy
Efficiency Practice categories at the 2022 Australian
Hotels Association SA Hotel Industry Awards for
Excellence; and
• joint winner of the Outdoor or Non-Enclosed Facility
- Metropolitan category (for Sôl Rooftop bar) at the
2022 Australian Hotels Association SA Hotel Industry
Awards for Excellence.
SkyCity Adelaide was named winner of the Business
Event Venues category at the 2022 South Australian
Tourism Awards.
Sky Tower, Eos by SkyCity, and The Grand by SkyCity
were each awarded a 2023 Travellers’ Choice Award
by Tripadvisor – in recognition of accommodation,
attractions and restaurants that consistently earn great
reviews f rom travellers and are ranked within the top 10%
of properties on Tripadvisor.
Supporting those Impacted by Cyclone
Gabrielle
In February 2023, New Zealand was significantly
impacted by Cyclone Gabrielle. To assist those affected,
SkyCity donated $50,000 to the BBM Programme and
$50,000 to the Vision West Community Trust to support
their relief efforts in their local communities. SkyCity
also donated a total of $60,000, being the proceeds of all
Sky Tower ticket sales and all game fees f rom Bowl and
Social (the tenpin bowling alley at SkyCity Hamilton) on
26 February 2023, to the New Zealand Red Cross and lit
up the Sky Tower red that evening to raise awareness for
the New Zealand Red Cross' Disaster Fund. The proceeds
of all food sales at SkyCity Queenstown's Wild Thyme Bar
& Kitchen on 24 February 2023 (around $1,900) was also
donated to the Hawke's Bay Disaster Relief Trust.
The SkyCity Auckland Community Trust also established
an Awhi Emergency Response Fund for community
groups supporting those impacted by the extreme
weather events in the Tāmaki Makaurau and Te Tai
Tokerau regions – with a total of $103,100 in grants
distributed to 13 organisations.
On 20 March 2023, several of our SkyCity Auckland
and Hamilton food and beverage outlets joined other
outlets across New Zealand in the 'Cooking up a Storm'
fundraising event with all proceeds f rom the evening
being distributed to the Emergency Mayoral Funds or
held for distribution to impacted hospitality businesses.
Our SkyCity outlets provided food and labour (at no cost)
and helped to raise around $50,000 for the event.
Supporting Good Causes
Throughout the year, SkyCity lights the Sky Tower, one
of New Zealand's most recognisable landmarks, to show
support for organisations and special events, including
charities and community initiatives, that SkyCity supports
financially or to mark national holidays, milestones,
other celebrations or significant events, or as a symbol of
respect or solidarity.
The SkyCity Adelaide building is also lit up by SkyCity
throughout the year to show support.
Over the last financial year, the Sky Tower
was lit up to support over 40 campaigns
and causes, including:
The SkyCity Adelaide building was also
lit up to support a variety of campaigns
and causes, including:
National SES Volunteers Day
National Epilepsy
Awareness Day
AFL Gather Round
The Big Freeze Motor Neurone
Disease Awareness Day
National Road
Safety Week
Coronation of
King Charles
Earth Hour
Rugby World Cup 2021
(playing in 2022)
Child Cancer
Foundation
We are committed
to creating vibrant
experiences and precincts
for our customers and
positively contributing to
the communities in the
places where we operate –
both directly and through
the New Zealand SkyCity
Community Trusts.
Pasifika Festival
Te Matatini National
Kapa Haka Festival
Trans Awareness
Week
New Zealand Red
Cross' Disaster Fund
21
GENERAL
20
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

Group Strategy
PURPOSE
We are trusted to create vibrant places for gaming, entertainment and
hospitality in New Zealand and Australia
Operational excellence
at our core
Sustainable operations
Complete major projects
and optimise portfolio
Create vibrant places
Pursue the omnichannel
opportunity
Responsible growth
Commitment
to responsibility
Shareholder
value creation
Culture of
compliance
Financial and capital settings to deliver objectives
Implementation Principles
In June 2022, we adopted a new corporate purpose
statement and integrated business strategy that
incorporates environmental, social, and governance
considerations into our business strategy.
Our purpose statement provides our Board and
management with a foundational guideline for
decision-making, our employees with a reason for
choosing to work with SkyCity, and our external
stakeholders with an understanding of what drives
SkyCity.
Our integrated business strategy supports the long
term value proposition for attractive sustainable
shareholder returns, generated through earnings
growth with diversification, efficient capital allocation
and long term sustainability.
Our three strategic pillars - sustainable operations,
creating vibrant places and responsible growth - are
premised on financial and capital settings and guided by
three implementation principles:
• commitment to responsibility - emphasising the
commitment to ethical business practices and
responsible hosting, anti-money laundering, and
‘doing what’s right’;
• stakeholder value creation – recognising that the
organisation depends on stakeholders to create
value, and in turn the organisation can create (or
destroy) value for others. This principle emphasises
the importance of these dependencies with
employees, suppliers, customers, investors, the
government/regulators, the community, and the
environment; and
• culture of compliance - creating a culture of
compliance in pursuit of continuous improvement –
by maintaining best practice systems, robust policies,
employee training, and monitoring.
Our Strategic Priorities
SkyCity remains focused on continuing to navigate
through the ongoing uncertainty of the current operating
environment whilst ensuring financial resilience and the
ability to manage the balance sheet to set the business
up for success over the medium term to grow earnings
and shareholder value.
SkyCity’s capital allocation f ramework supports the
Group’s strategic objectives by ensuring the structure for
prioritising the key sources and uses of capital is relevant
for the operating environment and investor expectations,
and is aligned with the key financial settings of the Group.
Online Casino Strategy
We believe that a significant omnichannel opportunity
exists for SkyCity if the New Zealand online market
becomes regulated given the sizable addressable market
which already exists in New Zealand (which continues
to grow absent regulation) and the unique opportunity
SkyCity has to offer an integrated offline and online
experience to customers.
We continue to explore strategic opportunities, including
an online operation in Ontario, Canada, with international
iGaming company Gaming Innovation Group Inc, who
operates the SkyCity Online Casino on behalf of SkyCity
Malta Limited (an independently operated subsidiary of
the SkyCity Entertainment Group).
Major Projects
The New Zealand International Convention Centre
and Horizon Hotel project remains complex post the
significant fire in October 2019, but the reinstatement and
building works are progressing and we now expect the
Horizon Hotel and New Zealand International Convention
Centre to be delivered in 2024 and 2025 respectively.
SkyCity continues to remain comfortable with its
contractual position in relation to the project and
is actively considering steps to recover further
compensation for costs and losses due to the fire and
project delays. SkyCity's expected total project costs
remain unchanged (around $750 million), of which
around $130 million is still to be spent (as at 30 June 2023)
net of recoveries and reinstatement costs which are
funded via insurance responding on the project.
We remain confident that, when completed, the
project will deliver world-class tourism inf rastructure for
Auckland and New Zealand and will be a significant driver
of demand for our broader Auckland precinct.
Continuous improvement in
operational performance
and efficiency
Monetise omnichannel to
consolidate New Zealand leadership
position in gaming
Reliable and consistent f ree
cash flow generation and capital
distribution
Protect and enhance
social licence to operate
Successful completion and
integration of major capital projects
Highest standards of corporate
governance and compliance
f rameworks
23
GENERAL
22
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

Diversity Snapshot
The following graphic shows the make up of SkyCity’s workforce as at 30 June 2023 and, where relevant, as a comparison
against our workforce as at 30 June 2022:
SkyCity employs a diverse range of people at all skill levels and
aims 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.
4,559
staff
(full-time, part-time and casual)
FY22 - 3,923
80 years
age of our oldest staff member
FY22 - 80 years
0.5
%

gender diverse
FY22 - 0.3%
60 languages
spoken and/or written by staff
FY22 - 60
Top 3
non-English
languages
FY22 - 1. Mandarin 2. Tagalog 3. Hindi
(full-time, part-time and casual)
70
%
of our workforce
are 42 years old
and under
FY22 - 64%
women
48.5
%
FY22 - 49.3%
identify as being a member of the
LGBTTI+ community
6
%
FY22 - 6%
of leadership roles held by women
41
%
FY22 - 49%
average age of our workforce
36 years
FY22 - 37 years
men
51
%
FY22 - 50.4%
identify as having a disability
1
%
FY22 - 1%
SkyCity Adelaide Pty Limited (the operator of the SkyCity Adelaide casino) has submitted its annual report to the
Australian Workplace Gender Equality Agency in accordance with the Workplace Gender Equality Act 2012 (Cth) which
outlines its policies, strategies, and actions on gender equality, its workplace profile (including workforce composition,
and salaries and remuneration), and its workforce management statistics (including employee appointments,
promotions, resignations, and parental leave). A copy of the public report is available to shareholders on request.
1. Mandarin 2. Tagalog (Philippines)
3. Hindi and Cantonese
AGE BREAKDOWN
TOP 10 ETHNICITIES STAFF IDENTIFY WITH
26.6%
Generation Z
(<27 years)
FY22 - 19.9%
22.3%
Generation X
(43–58 years)
FY22 - 26.0%
7.8%
Baby Boomers
(59–77 years)
FY22 - 9.4%
FY22 - 44.6%
43.2%
Millennials
(27–42 years)
FY22 - 0.1%
0.1%
Veterans
(78+ years)
FY23
Given as a percentage of those staff members who provided details about their ethnicity and those who elected "prefer not to say”.
FY22 - 15%
17%
Chinese
FY22 - 3%
3%
European
FY22 - 13%
13%
New Zealander
FY22 - 7%
8%
Indian
8%
Filipino
FY22 - 7%
8%
Other Asian
FY22 - 7%
6%
Māori
FY22 - 5%
5%
Other South East Asian
FY22 - 4%
3%
Samoan
FY22 - 4%
FY22 - 14%
10%
Australian
FY23
25
GENERAL
24
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

SkyCity is New Zealand’s largest tourism, leisure and
entertainment company and is listed on the New Zealand
and Australian stock exchanges.
SkyCity operates integrated entertainment
complexes in New Zealand (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,
the SkyCity Online Casino (based out of Malta)
offers New Zealanders an online gaming
experience.
About SkyCity
* As at 30 June 2023.
** As at 1 August 2023.
*** S kyCity has a ‘Foreign Exempt Listing’ status on the ASX.
^ Includes the SkyCity Wharf Casino in Queenstown which has
remained closed since March 2020 at the commencement of
the first COVID-19 lockdown in New Zealand.
Our History at a Glance
2020
SkyCity Adelaide expansion project
officially opens
2022
SkyCity completes a €25 million equity
investment in Gaming Innovation Group
Inc and becomes its largest independent
shareholder (at around 11%)
Sky Tower celebrates its 25th anniversary
2021
SkyCity Auckland celebrates its
25th anniversary
1994
Construction of the SkyCity
Auckland complex commences
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
1997
Sky Tower opens in
Auckland
1998
Harrah’s management contract
ends and SkyCity becomes a
New Zealand-managed operation
1999
SkyCity lists on the
Australian stock exchange
2000
SkyCity Queenstown opens
SkyCity acquires SkyCity Adelaide
2002
SkyCity Hamilton opens
2004
SkyCity acquires SkyCity Darwin
2005
SkyCity acquires full
ownership of SkyCity Hamilton
2012
SkyCity acquires full
ownership of SkyCity
Queenstown
2013
SkyCity acquires
SkyCity Wharf in
Queenstown
2016
The first sod was turned
on the New Zealand
International Convention
Centre/Horizon Hotel site
2019
SkyCity sells SkyCity Darwin
SkyCity Online Casino launches offshore
SkyCity sells long term concession
(licence to operate) over SkyCity
Auckland car parks to Macquarie
Principal Finance Group
A significant fire breaks out at the
New Zealand International Convention
Centre (under construction)
1990s2000s2010s2020s
2018
Construction commences on the
SkyCity Adelaide expansion project
1online casino
3
hotels
$
1,530
NZX
and ASX listed***
15,000 shareholders**
Over
$
1,761
properties across
New Zealand and Australia
5
^
$
1.7
billion**
total market capitalisation
million*
in net assets
million*
in property assets
27
GENERAL
26
SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

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).
The SkyCity Auckland casino features the latest electronic
gaming machines and automated table games, an array
of table games, and luxurious VIP gaming facilities.
EIGHT is an exclusive area reserved for VIP table game
players and PLATINUM and VIP BLACK are exclusive areas
reserved for VIP gaming machine players.
Federal Street, the gateway to the SkyCity Auckland
precinct, features some of Auckland City’s best eateries,
including award-winning restaurants Masu by Nic Watt,
The Sugar Club, Huami, Depot, Federal Delicatessen
and Cassia - with an impressive accolade of awards
between them.
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 and
the significant fire that broke out at the New Zealand
International Convention Centre (under construction)
in October 2019, 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 2025. When open, the
New Zealand International Convention Centre will be
New Zealand’s largest 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 f resh
new streetscape for local, national and international
visitors to enjoy.
IMAGE: Award-winning Indian restaurant, Cassia, by
Chef Sid Sahrawat, opened its doors in the vibrant
Federal Street dining precinct in May 2023.
Auckland
PROPERTYSKYCITY AUCKLAND, NEW ZEALAND
Property ManagerCallum Mallett, Chief Operating Officer New Zealand
Opened1996
Casino Venue LicenceRuns until 2048*
Facilities• Casino
• Hotels
• Conventions
• Food and beverage
• Entertainment and attractions
• Day spa
• Car parking
• Sky Tower
• Theatre
• Telecommunications and broadcasting facilities
• Office/retail space
Licensed Gaming Product• 1,877 electronic gaming machines **
• 150 table games **
• 240 automated table games ***
Workforce~ 2,900 staff
FY23 Revenue$511.2 million^ (reported)
$568.9 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.
FY23 PERFORMANCE
The Auckland business delivered normalised revenue of
$568.9 million, and normalised EBITDA of $252.6 million
(up 150% f rom the previous comparable period). This
result reflects a full year of operations uninterrupted by
the impact of site closures with earnings back to a level in
excess of those achieved pre COVID-19.
Strong revenue growth across gaming was driven by
a robust mass-market electronic gaming machines
performance – this is the core of our customer base and is
proving resilient in the face of variable VIP play. Electronic
gaming machines revenue in the second half of FY23 was
down slightly on the first half as the pent-up demand
and constraints seen in the first half of the year were
released and due to adverse weather events in Auckland.
Table games performance recovered through the year
with a stronger second half due to increased operating
hours once more staff were available. Food and beverage
performance was supported by increased opening hours
and unconstrained resourcing while other non-gaming
revenue received a boost f rom the increase in tourism,
which was particularly evident in Sky Tower visitation.
The Auckland hospitality offering was revamped with the
opening of Cassia and Sky Bar, and a new Michael Meredith
restaurant is due to open in the first half of FY24.
IMAGE: Sky Bar, New Zealand's
highest bar, opened at the top
of the Sky Tower in June 2023 in
partnership with Moët & Chandon.
IMAGE: Award-winning chef
Michael Meredith will open a
new Pacific inspired restaurant,
Metita, at SkyCity Auckland in
October 2023.
29
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GENERAL

Located in and around the historic Railway Station
building on the banks of the River Torrens, 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.
Following completion of a significant expansion
development in late 2020, SkyCity Adelaide is now a
world-class integrated entertainment hub featuring a
120-room luxury hotel – Eos by SkyCity, a wellness centre
with a day spa, pool, sauna and gym, VIP gaming facilities,
a function and conference facility for up to 650 guests,
bars and restaurants.
The SkyCity Adelaide precinct is home to award-winning
eateries, Madame Hanoi, Sean’s Kitchen, The Guardsman,
iTL, the immersive rooftop destination Sôl Rooftop, and
The District at SkyCity - Australia’s first fully functional
microbrewery within a casino (operated in partnership
with Pirate Life).
Eos by SkyCity is Adelaide’s most luxurious hotel. Since
opening in December 2020, Eos by SkyCity has won a
number of prestigious awards, including being named as
the Best New Tourism Business at the South Australian
Tourism Awards, Best Deluxe Hotel in South Australia
at the Australian Hotels Association SA Awards for
Excellence and Best New Hotel at the Hotel Management
Awards for Hotel and Accommodation Excellence.
FY23 PERFORMANCE
The Adelaide property also benefited f rom a full
uninterrupted year of operations with normalised revenue
of A$236.2 million (up 28% f rom the previous comparable
period) and normalised EBITDA of A$34.9 million (up 70%).
The electronic gaming machines business is the largest
contributor in Adelaide and had a positive year
– outperforming the market and ending the year with
11% market share.
Table games revenue was also up year on year albeit lower
than pre COVID-19 levels due to lower levels of visitation.
Both Eos by SkyCity and the food and beverage outlets
were positively impacted by some notable events
throughout the second half of year – the AFL Gather Round
and LIV Golf bringing significant visitors f rom other states,
which supported VIP play. This highlights the potential of
our Adelaide business when there are major activations in
the city centre.
Improvement in EBITDA margin was constrained by some
significant cost pressures - large labour cost increases,
food and beverage input costs and higher electricity prices
due to instability in the national network. SkyCity remains
focused on offsetting these inflationary pressures by
driving price increases wherever possible.
Of note was the legal and compliance costs of
A$8 million incurred in FY23 relating to SkyCity Adelaide's
response to the AUSTRAC and CBS matters and
implementing the Adelaide AML/CFT Enhancement
Programme.
Adelaide
PROPERTYSKYCITY ADELAIDE, AUSTRALIA
Property ManagerDavid Christian, Chief Operating Officer Australia
Opened2000
Casino Venue LicenceRuns until 2085*
Facilities• Casino
• Hotel
• Conventions
• Food and beverage
• Entertainment
• Car parking
• Wellness centre
Licensed Gaming Product• 1,080 electronic gaming machines (allowance for 1,500)
• 116 table games (allowance for 200)**
• 138 automated table games (allowance for 300)
Workforce ~ 1,400 staff
FY23 RevenueA$220.8 million (reported)
A$236.2 million (normalised)
* The Approved Licensing Agreement between the Minister for Business Services and Consumers and SkyCity Adelaide Pty Limited provides SkyCity
Adelaide with exclusive rights to provide casino gaming (except for interactive gambling) in South Australia until 30 June 2035.
** This allowance may be alternatively utilised to enable automated table game terminals.
31
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GENERAL

Situated within Hamilton’s historic Chief Post Office, a venue 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.
The SkyCity Hamilton precinct is home to some of Hamilton’s favourite eating and drinking destinations right in the
heart of Hamilton’s CBD, including The Local Taphouse and Eat Burger.
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 the opening of a new Chinese restaurant (tenancy),
Shanghai Restaurant, in May 2023. Product and layout optimisation within the casino remains a key focus to ensure
SkyCity Hamilton maintains its market leader position and to manage high demand for electronic gaming machines
(which continue to remain capacity constrained at peak times).
SkyCity Hamilton is a proud member and supporter of the local community, and celebrated 20 years of entertaining in
the Waikato region in September 2022.
FY23 PERFORMANCE
The Hamilton business achieved normalised EBITDA
of $35.2 million. This was a record result driven by
very strong gaming machine performance, reflecting
the sentiment of the local economy which is more
domestic focused with less reliance on tourism. There
was strong growth on the prior comparable period due
to COVID-19 restrictions and closures in that period,
with SkyCity Hamilton closed for 65 days and operating
under various restrictions for an additional 122 days.
The first half of FY23 was particularly strong with
increased gaming visitation and premium play across
all categories and strong non-gaming contribution,
including higher patronage at Bowl and Social offset
by changes in outlet operating hours due to lower
staffing levels. The second half of FY23 was quieter,
reflecting changes in the economic environment with
lower visitation and spend compared to the first half.
SkyCity Hamilton is working to ensure it provides a
broad entertainment proposition by ref reshing and
expanding its food and beverage offering. This will lead
to some upf ront costs along with the impact of staff
numbers returning to more normal levels. However, it
is expected that this will also support the maintenance
of industry leading EBITDA margins which are now
back to pre COVID-19 levels.
Hamilton
PROPERTYSKYCITY HAMILTON, NEW ZEALAND
Property ManagerMichelle Baillie, General Manager Hamilton
Opened2002
Increased ownership f rom 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
FY23 Revenue$66.3 million (reported)
$74.9 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.
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SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

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 23 March 2020.
The SkyCity Wharf property is unlikely to be reopened.
FY23 PERFORMANCE
SkyCity Queenstown benefited f rom a full year
of uninterrupted operations in FY23, increasing
its normalised revenues by 21% to $12.3 million.
Normalised EBITDA of $4.1 million was 36%
higher than the previous comparable period and
represented a record year.
The Queenstown business has been hampered by
the availability of staff predominantly due to the lack
of accommodation in the region, which in turn has
impacted table games opening hours. SkyCity has worked
actively to find suitable accommodation for its staff.
Having consolidated to one site, SkyCity Queenstown
will benefit as more international tourism returns to
the Southern Lakes region and grow above pre COVID-19
levels.
SkyCity has commenced the renewal process in respect
of the SkyCity Queenstown casino venue licence, which
currently runs until December 2025.
SkyCity continues to pursue a sale of the development
land at 633 Frankton Road in Queenstown.
Queenstown
PROPERTYSKYCITY QUEENSTOWN AND SKYCITY WHARF, NEW ZEALAND
Property ManagerJono Browne, General Manager Queenstown
OpenedOpened Queenstown in 2000 and increased ownership f rom 60% to 100% in 2012
Acquired Wharf in 2013
Casino Venue LicenceRuns until 2025* for Queenstown
Runs until 2024* for Wharf
Facilities• Casino, including VIP gaming facilities
• 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
FY23 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.
35
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SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

In April 2022, SkyCity expanded its strategic
partnership with GiG and subscribed for €25 million
(around $40 million) of new equity in GiG to help
fund GiG’s purchase of Sportnco Gaming SAS, a
European-based business-to-business online sports
and player account management provider. As at
1 August 2023, SkyCity holds a 10% shareholding in GiG
and has a representative director on the GiG Board.
The online gaming market continues to grow globally
with numerous international jurisdictions regulating
online gaming (or intending to do so) to address the
transition f rom physical to online entertainment.
The New Zealand online gaming market continues
to grow significantly with recent estimates indicating
a market between $400 and $500 million in gross
gaming revenue per annum. This market is expected
to continue to grow with offshore operators targeting
unregulated markets, like New Zealand, as they find
themselves squeezed out of the increasing number of
jurisdictions adopting regulatory models.
New Zealand is now one of the last OECD countries to
not yet regulate online gambling and is increasingly
being aggressively targeted by offshore operators.
Following a public consultation which commenced
during 2019, the Department of Internal Affairs (the
New Zealand gambling regulator) continues to
develop a policy f ramework for potential regulation.
SkyCity remains supportive of regulation of the New
Zealand online gaming market, which 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
The SkyCity Online Casino provides New Zealanders with an offshore online casino platform, featuring over 2,450
online games, ever increasing personalisation, a mobile first user experience and continually enhanced player safety
features and tools.
The SkyCity Online Casino is operated out of Malta by international iGaming company Gaming Innovation Group Inc
(GiG) on behalf of SkyCity Malta Limited, an independently operated subsidiary of the SkyCity Entertainment Group,
and managed by a Managing Director based in Europe. GiG provides a full-suite online casino solution, including a
technical platform, gaming content, managed services and f ront-end development.
(both physical and digital). 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 continues
to prepare for a regulated industry to deliver on the
omnichannel opportunity for the Group.
FY23 PERFORMANCE
The SkyCity Online Casino business generated
$15.3 million of normalised revenue, down 9% f rom the
prior comparable period. Normalised EBITDA of
$10.7 million was 17% lower due to lower revenue
and increased costs.
Online earnings declined as the New Zealand online
market has been aggressively targeted by offshore
operators who are not adhering to local marketing
restrictions. The SkyCity Online Casino’s market share has
also declined.
SkyCity’s 10% equity stake in GIG has increased in value
by 20% (as at 30 June 2023) since the shares were issued
to SkyCity in April 2022. SkyCity continues to enjoy the
strategic benefits of being associated with GiG.
The SkyCity Online Casino offering continues to be
enhanced with new content, with bingo to be launched
in the year ahead. The investment in the business is
reflected in a lower margin in FY23.
SkyCity continues to explore an online opportunity in
Ontario, Canada. This would provide some valuable
insights into operating in a regulated market and
enable SkyCity to potentially leverage the resources and
capability in its New Zealand operations in a regulated
New Zealand market.
Online
BUSINESSSKYCITY ONLINE CASINO, MALTA
ManagerSteve Salmon, Managing Director SkyCity Malta
Launched 2019
Facilities Online casino
FY23 Revenue$15.3 million (reported)
$15.3 million (normalised)
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SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

Risk
Management
The SkyCity Board is ultimately responsible for the
governance of the Group’s risk management, which
includes approval and oversight of the Group’s risk
management f ramework and risk appetite, and
ensuring that organisational culture supports effective
risk management. Recognising the importance of the
governance of risk management, the SkyCity Board
established a Risk and Compliance Committee in August
2022 whose primary objective is to assist the SkyCity
Board in fulfilling its responsibilities relating to risk
management and compliance, including in respect of the
Group’s key compliance obligations, casino licensing, host
responsibility, anti-money laundering, and health and
safety matters.
In light of the heightened regulatory focus on the casino
industry over recent years, SkyCity has taken further
significant steps to enhance its risk management and
compliance f rameworks over the past financial year,
including:
• continuing to drive improvement and uplift in
the Group’s approach to host responsibility and
anti-money laundering;
• committing further additional resources to, and
investment in, SkyCity’s anti-money laundering and
host responsibility functions;
• formally adopting a three lines of defence model
to identify and manage key risks and to provide
assurance over SkyCity’s controls in managing those
risks;
• the appointment of a Chief Risk Officer, Carolyn
Kidd (an experienced risk executive with an
extensive career in the financial services sector),
f rom 1 April 2023 who is responsible for SkyCity’s risk
management effectiveness and SkyCity’s risk,
anti-money laundering and counter-terrorism
financing, and host responsibility functions; and
• commencement of a programme of work to enhance
and further mature SkyCity’s risk management
f ramework and approach.
The SkyCity Board and management recognise that
a positive culture is fundamental to effective risk
management 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).
SkyCity maintains a risk management f ramework for the
identification, assessment, monitoring and management
of risk to the Group’s business:
• SkyCity will progressively embed the three lines of
defence approach to risk management with defined
roles and responsibilities across end-to-end risk
management and assurance;
• the Group Risk function evaluates and reports on
risks and 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 monitors the Group’s culture for
indications on the risk culture and to identify any
potential areas for improvement; and
• Management reports to the SkyCity Board and the
Risk and Compliance Committee on the effectiveness
of the Group’s management of its material business
risks at least annually.
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 operate within risk appetite. 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 following table. Some risks are
affected by factors external to, and beyond the control
of, SkyCity.
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 pages 90-101 of this
annual report.
SkyCity operates in a dynamic, highly
regulated and challenging environment
with risks and opportunities.
39
GENERAL
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SKYCITY ENTERTAINMENT GROUP

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GENERAL

MATERIAL EXPOSURERISK MANAGEMENT
Highly Regulated Industry
SkyCity operates in the casino industry, which is highly regulated.
The regulatory f ramework in which the business operates is not only
complex but also subject to change f rom time to time, which may
impact the environment in which SkyCity operates and increase
the costs and complexities of operating its business. Potential
examples include changes to gaming 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.
Over the past financial year, there has also been continued focus on
regulatory oversight of land-based casino operators in New Zealand
and Australia, particularly in respect of anti-money laundering and
host responsibility obligations – see below for more details.
In the case of any alleged wrongdoing, a regulator may initiate action
against SkyCity, including a formal warning or, where the matter
relates to SkyCity's casino operations, an application to suspend and/or
cancel the relevant casino licence under the New Zealand Gambling
Act 2003, South Australian Casino Act 1997 and/or South Australian
Gambling Administration Act 2019 as applicable.
Regulatory risk is mitigated by close
monitoring of the evolving regulatory
landscape, including maintaining f requent
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 supports a robust compliance
culture and practices to ensure maintenance
of licence conditions and adherence to
applicable legislation and regulations.
AML/CFT Compliance and Host Responsibility
SkyCity operates in an industry that presents high money-laundering
risks. As a reporting entity under applicable anti-money laundering
and countering financing of terrorism (AML/CFT) legislation, SkyCity is
required to detect, deter, manage and mitigate money laundering and
the financing of terrorism risks.
SkyCity is also required to provide its gambling offerings in a
responsible manner in accordance with its Host Responsibility
Programmes, relevant responsible gambling and advertising codes
and legislation, and regulatory and community expectations.
A failure to comply with SkyCity’s AML/CFT or host responsibility
obligations could expose SkyCity to significant penalties and
remediation costs and have an adverse impact on SkyCity’s
operational and financial performance and reputation.
SkyCity Adelaide Pty Limited (SkyCity Adelaide), the operator of
the SkyCity Adelaide casino, is currently the subject of civil penalty
proceedings filed in the Federal Court of Australia by AUSTRAC on
7 December 2022 for alleged serious and systemic non-compliance
with the Australian Anti-Money Laundering and Counter-Terrorism
Financing Act 2006. Should the proceedings result in a determination
of non-compliance, SkyCity Adelaide could face significant penalties.
SkyCity Adelaide is also the subject of an independent review by
Consumer and Business Services (CBS), the South Australian gaming
regulator. In July 2022, CBS announced that it had appointed the
Honourable Brian Martin AO KC to undertake an independent review
of SkyCity Adelaide in accordance with Part 3 of the Casino Act 1997
(SA) in light of interstate inquiries into various casino operations. The
review was placed on hold in February 2023 pending the conclusion
of the AUSTRAC civil penalty proceedings. Whilst the independent
review remains on hold and at CBS’ direction, an independent expert
will be appointed to review SkyCity Adelaide’s AML/CFT and host
responsibility enhancement programmes and, if required, make
amendments to those programmes, monitor the implementation
of those programmes by SkyCity Adelaide and SkyCity Adelaide’s
compliance with its AML/CFT and gambling harm minimisation
obligations, and report to the Commissioner in relation to the above
matters.
In respect of SkyCity’s land-based casinos,
an AML/CFT Programme is in place in New
Zealand and in Adelaide that includes
procedures to detect, deter, manage and
mitigate the risks of money laundering
and the financing of terrorism. A Host
Responsibility Programme is also in place
at each of these casinos to prevent and
minimise harm f rom problem gambling. In
addition, specialist Financial Crime and Host
Responsibility teams are located within the
business.
The SkyCity Online Casino is operated f rom
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 risks. Through rigid
processes and industry leading software, GiG
ensures that it adheres to relevant AML/CFT
and host responsibility regulation and best
practice.
In addition to periodic regulator audits,
internal and external assurance activities and
audits are conducted on a regular basis to
assess the effectiveness of SkyCity’s AML/CFT
and host responsibility controls and processes.
SkyCity continues to invest in and enhance the
Group's AML/CFT and host responsibility risk
management capabilities, including through
uplift programmes, aligned resourcing and
dedicated IT systems development and new
technologies.
See pages 68-81 of this annual report for
further details on the Group’s approach to
AML/CFT and host responsibility.
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).
Given the cautious economic outlook and the
ongoing regulatory focus, 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.
Where appropriate, a regulator may take action to suspend
and/or cancel the relevant casino licence under the New
Zealand Gambling Act 2003, South Australian Casino Act 1997
and/or South Australian Gambling Administration Act 2019 as
applicable.
SkyCity has mitigated this risk by securing an
extension to the Auckland casino licence to
30 June 2048 and an extension to the Adelaide
casino licence to 30 June 2085. Extensions to the
Hamilton and Queenstown casino licences can be
sought in accordance with the renewal provisions
in the Gambling Act 2003 (New Zealand).
In addition, SkyCity mitigates this risk by
maintaining a robust compliance culture and
practices 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.
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 economic landscape, and has a
robust liquidity management f ramework.
SkyCity also continually reviews the optimal
mix for its business activities to ensure it has a
balanced portfolio reflecting its risk appetite.
Development and Project Risk (including Return from Major Projects)
SkyCity has a significant project underway in Auckland
comprising the New Zealand International Convention Centre
and Horizon Hotel development. Potential project risks include
project delays, supply chain constraints and project cost
overruns.
Horizon Hotel is expected to be completed during 2024 and
the New Zealand International Convention Centre and adjacent
laneway are expected to be completed in 2025.
It is possible that adequate returns are not generated f rom the
financial capital invested in capital projects.
SkyCity seeks to mitigate project risks by
continually monitoring progress by contractors
against contractual obligations, and maintaining
robust project management.
SkyCity has established strong governance and
oversight f rameworks for both current and future
major growth projects. SkyCity also ensures
robust governance over capital allocation and
shareholder returns.
SkyCity markets and promotes its precincts
and offerings to maximise the level of customer
patronage required to deliver the expected
returns on investment.
41
GENERAL
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SKYCITY ENTERTAINMENT GROUP

ANNUAL REPORT YEAR ENDED 30 JUNE 2023
GENERAL

MATERIAL EXPOSURERISK MANAGEMENT
Technology and Data Security Risk
Technology is critical to SkyCity’s business for facilitating/enabling
its operations, 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.
SkyCity also holds confidential customer and commercially
sensitive data. A leak or the unauthorised use of confidential
customer and commercially sensitive data may have an adverse
impact on SkyCity’s operational and financial performance and
reputation.
To mitigate technology risk, SkyCity has invested
in a significant programme over recent years
to improve technology systems, inf rastructure,
capability and data management, and to improve
cyber-resilience. SkyCity continues to invest in
these areas as required and to keep abreast of the
latest risks.
SkyCity has a dedicated ICT security function
that conducts regular exercises to assess 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.
Across the business, SkyCity has a range of
measures in place to manage cyber risk, including
policies and procedures, cybersecurity capabilities,
continuous threat monitoring and event-detection
capabilities. In particular:
• to ensure staff have the requisite knowledge
and skills to combat cyber threats, staff are
required to complete cybersecurity training;
• a Data Breach Response team has been
established, and a f ramework is in place, to
respond to data breach incidents; and
• over the last financial year, a cyber
preparedness simulation exercise has uplifted
internal capability and preparedness.
SkyCity has a range of measures in place across its
business to mitigate against a leak or unauthorised
use of confidential customer and commercially
sensitive data, including policies and procedures,
event-detection capabilities, confidentiality
provisions in employee and contractor agreements,
and privacy training and awareness.
In relation to the SkyCity Online Casino, GiG
implements strict vulnerability management
processes for its products, services and
inf rastructure, including:
MATERIAL EXPOSURERISK MANAGEMENT
Health and Safety Risk
SkyCity has Health and Safety Risk Registers in place that identify
risks into two key categories – high consequence/low f requency
(being critical risks) and low consequence/high f requency risks.
SkyCity’s critical risks include working at heights, confined
spaces, electrical, violence, moving plant, fire and explosion.
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 f requency category, which includes
risks such as slips and trips and cuts f rom manual task related
injuries.
Following the completion of a Group-wide
independent health and safety review in the last
financial year, SkyCity is currently developing and
implementing a revised health and safety critical
risk f ramework, which focuses on substantially
higher risk activities (critical risks) associated with
hospitality, facilities and maintenance, projects,
logistics, events, and gaming management.
Ongoing safety assurance activities seek to
assess the effectiveness of controls and, where
appropriate, strengthen critical risk controls
ensuring SkyCity keeps its people and visitors safe.
SkyCity also has harm prevention programmes in
place which are aimed at reducing minor injuries
and promoting wellness amongst SkyCity’s
employees and contractors.
SkyCity’s New Zealand properties are tertiary
accredited under the Accident Compensation
Corporation 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.
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 new food and beverage, gaming
and entertainment offerings.
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.
To mitigate this risk, SkyCity maintains a
comprehensive business continuity f ramework,
which supports preparedness and response
to a wide range of critical events, including
natural disasters, fire, emergency incidents and
pandemics.
The business continuity f ramework 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.
Business disruption risk is also mitigated through
the Group’s insurance cover.
• GiG’s information security processes are tested
against international standards (ISO 27001:2013
audit);
• penetration testing is conducted to identify
any vulnerabilities;
• security engineers are consulted at the
design phase of a product to minimise any
vulnerabilities within the design of a product;
• the security posture of each supplier is
assessed to minimise supply chain attacks; and
• a specialist team monitors GiG’s systems on a
24/7 basis to identify any malicious activity that
could lead to a breach.
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Our Board
* Sue announced her intention to retire f rom the SkyCity Board in August 2022. Sue will remain a non-executive director on the SkyCity Board until
Donna Cooper’s appointment to the SkyCity Board is formalised.
Chair of the People and Culture
Committee
Member of the Audit Committee
Member of the Risk and
Compliance Committee
Chair of the Governance and
Nominations Committee
Appointed a director of SkyCity
in June 2021 and Chair of the
SkyCity Board in January 2022
Appointed a director of SkyCity
Adelaide in October 2022
Resides in New Zealand
Julian Cook was Chief Executive Officer of
Summerset Group Holdings Limited f rom
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,
Mr Cook 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, Winton Land Limited
and Deakin TopCo Pty Limited and holds a
Master of Finance f rom Victoria University
and a Master of Science f rom the University
of Waikato.
JULIAN COOK
Chair
Chair of the Audit Committee
Member of the People and
Culture Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity
in June 2021
Resides in Australia
Chad Barton has extensive experience
across finance, capital markets, mergers,
acquisitions and property development. He
is currently the Chief Operating Officer and
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 f rom 2014 to 2019 and Salmat
Limited f rom 2009 to 2014. Prior to this, he
was Chief Financial Officer of the Australia
and New Zealand business of Electronic
Data Systems f rom 2006 to 2009.
Chad, as founding Chairperson, established
the former Women in Gaming & Hospitality
Australasia to achieve gender equity and
support the development and success of
women in the gaming industry.
He is a member of the Australian Institute
of Company Directors and Chartered
Accountants ANZ and holds a Bachelor of
Business f rom the University of Technology
in Sydney.
CHAD BARTON
Director
Member of the Risk and
Compliance Committee
Member of the Governance
and Nominations Committee
Appointed a director of SkyCity
in May 2011
Resides in New Zealand
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, Rubix Limited,
Jade Software Corporation Limited, Taska
Prosthetics Limited and Boulcott Hospital.
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.
SUE SUCKLING
Director*
Chair of the Risk and Compliance
Committee
Member of the Audit Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity in
September 2022
Resides in Australia
Kate Hughes is an experienced
non-executive director, holding board and
committee roles across a diverse portfolio,
including the Victorian Department of
Health, SuniTAFE and Lower Murray Water.
She also holds committee roles with two
Commonwealth regulators, Comcare
Authority and the Australian Prudential
Regulation Authority.
Prior to embarking on a governance
career, Kate held executive roles in risk
management, governance and compliance
across various sectors, including financial
services, agribusiness, fast moving
consumer goods, telecommunications,
and tertiary education. Her private sector
experience is complemented by regulatory
experience at the Australian Securities and
Investments Commission and
NSW Treasury.
Kate holds tertiary qualifications
in commerce, applied finance, and
occupational health and safety and is a
graduate of the Australian Institute of
Company Directors.
KATE HUGHES
Director
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GENERAL

Our Senior
Leadership Team
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. He also oversees
SkyCity’s information and communications technology function.
Callum has significant gaming and hospitality experience having held
a number of senior roles at SkyCity since joining in 2006, including as
General Manager 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.
Callum holds a Bachelor of Commerce f rom Victoria University of Wellington,
and has completed studies with Cornell University, The London Business
School and the University of Nevada.
CALLUM MALLETT
Chief Operating Officer
New Zealand
Michael was appointed Chief Executive Officer in November 2020 after
initially joining SkyCity in December 2017 as Group Chief Operating Officer.
In 2019 he oversaw the establishment of the SkyCity Online Casino after
leading SkyCity’s online gaming strategy. Michael’s priority and focus as
Chief Executive Officer has been the post COVID-19 recovery of the Group
along with the transformational uplift of the host responsibility, anti-money
laundering and counter-terrorism financing, and risk and compliance
capabilities across the business.
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 executive roles at Paddy Power Betfair (now Flutter), as
well as Aristocrat and Tabcorp.
Michael is a qualified accountant and holds a Master of Business
Administration f rom the University of Technology, Sydney.
MICHAEL AHEARNE
Chief Executive Officer
Julie joined SkyCity as Chief Financial Officer in May 2021 and is responsible
for the financial management of SkyCity, including reporting, capital markets,
treasury, and corporate development. She also oversees SkyCity’s investor
relations and internal assurance functions and helps to drive the strategic
direction of the SkyCity Group.
Julie joined SkyCity f rom 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
f rom the University of Waikato.
JULIE AMEY
Chief Financial Officer
Member of the Risk and
Compliance Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity
in September 2022
Appointed a director of SkyCity
Adelaide and Chair of the
SkyCity Adelaide Board in
September 2022
Resides in Australia
Glenn Davis has practised as a solicitor in
corporate and risk throughout Australia for
over 35 years with expertise and experience
in the execution of large transactions, risk
management and in corporate activity
regulated by the Australian Corporations Act
and the ASX.
Glenn has extensive board experience across
the public, private, family and government
sectors. He is currently the Chair of ASX-listed
companies Beach Energy Limited and
iTech Minerals Limited. He is also chair of
a number of large private companies with
broad board experience over many years in
the manufacturing, resources, retail, property,
seafood and primary production industries.
Glenn holds tertiary qualifications in law and
economics and is a fellow of the Australian
Institute of Company Directors.
GLENN DAVIS
Director
Member of the Audit
Committee
Member of the People and
Culture Committee
Member of the Governance and
Nominations Committee
Appointed a director of SkyCity
in March 2023
Resides in Australia
David Attenborough has strong gaming
experience with over 12 years’ experience at
ASX-listed Tabcorp Holdings Limited as Chief
Executive Officer and Managing Director.
Prior to joining Tabcorp, he was Chief
Executive Officer (South Af rica) of Phumelela
Gaming and Leisure in South Af rica and
previously held senior roles with a variety of
casino and racing organisations.
David is currently a director of Host-Plus
Pty Limited, an Australian-based
superannuation fund.
David holds an MBA f rom Henley Business
School and a Bachelor of Science (Honours)
f rom the University of Exeter and is a
graduate of the Australian Institute of
Company Directors.
DAVID
ATTENBOROUGH
Director
Appointment remains subject
to obtaining regulatory
approvals
Resides in New Zealand
Donna Cooper has over 25 years’ experience in
the financial services industry, most recently
as Chief Executive Officer of TSB Bank Limited.
Prior to this, she was Chief Executive Officer of
The Warehouse Financial Services Group and
Managing Director and General Manager New
Zealand of Baycorp (NZ) Limited. She has also
held a number of senior executive roles with
American Express International over a 10-year
period in New Zealand, Australia, India and the
United Kingdom.
Donna is currently a member of the New
Zealand Institute of Directors and a member
of the Global Women’s Leadership Network.
She was previously, up until 28 July 2023,
the Chair of the NZ Bankers’ Association’s
Domestic Banks Group and a member of the
NZ Bankers’ Association’s Governing Council.
Donna holds a Master of Arts in International
Business f rom the Rennes School of Business,
France, and a Bachelor of Business f rom the
Auckland University of Technology.
DONNA COOPER
Director-Elect
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Steve joined SkyCity in February 2019 in the newly created role of SkyCity
Online Director and was appointed Managing Director SkyCity Malta
in February 2021. Based in the United Kingdom, Steve is responsible for
launching, developing and leading SkyCity’s online gaming strategy, including
overseeing the operations of the SkyCity Online Casino.
Steve has extensive global senior leadership experience in the online gaming
industry with a successful record of achievement driving growth and
profitability within established listed corporate entities and entrepreneurial
start-up consumer brands. Steve has led across all industry verticals (including
sports betting, social gaming, business-to-business and business-to-
customer), been a driver of thinking in the omnichannel space, and pioneered
many of the industry's key innovations.
Steve qualified as a member of the Chartered Institute of Management
Accountants and has a post graduate qualification f rom the Cranfield School
of Management.
STEVE SALMON
Managing Director
SkyCity Malta
Simon oversees the development of SkyCity’s New Zealand International
Convention Centre and Horizon Hotel project in Auckland. He also oversees
SkyCity’s health and safety function and SkyCity’s development projects in
New Zealand.
Simon has held a number of senior roles across the business since joining
SkyCity in September 2007, including General Manager SkyCity Adelaide,
General Manager Hotels SkyCity Auckland and Acting General Manager
SkyCity Auckland.
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. Simon has governance experience on
industry boards and Local Government owned entities and trusts.
SIMON JAMIESON
Group General Manager -
NZICC Development
and Tourism
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
(Phil Goff) and was responsible for running the Mayor’s office and executing
his political priorities. Prior to this, she ran Mayor 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 the vice-Chair of Amnesty International Aotearoa
New Zealand and Chair of its Membership and Stakeholders Committee,
and a member of the Heart of the City Auckland’s Executive Committee
(representing SkyCity). She holds a Bachelor of Laws and Bachelor of Health
Science f rom the University of Auckland.
NIRUPA GEORGE
Chief Corporate Affairs Officer
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 f rom Deakin University, Victoria,
and a Diploma of Hospitality Management f rom Drysdale House, Tasmania.
DAVID CHRISTIAN
Chief Operating Officer
Australia
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, and regulatory affairs functions and is
designated as SkyCity’s Chief Privacy Officer.
Jo has 25 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 f rom Victoria University of Wellington.
JO WONG
General Counsel and
Company Secretary
Carolyn joined SkyCity as Chief Risk Officer in April 2023 and is responsible for
SkyCity’s risk management effectiveness and the risk, anti-money laundering
and counter-terrorism financing, and host responsibility functions.
Carolyn is an experienced risk executive with an extensive career in the banking
and finance industry across Australia and New Zealand. Prior to joining SkyCity,
she held a number of senior risk roles, including Chief Risk Officer at Westpac
New Zealand, Chief Risk Officer at Bankwest (Commonwealth Bank of Australia),
Chief Risk Officer at Sovereign Assurance, and Chief Credit Officer, Acting Chief
Risk Officer and Head of Credit Risk Management at ASB Bank Limited.
Carolyn is currently a director and Senior Fellow of the Financial Services
Institute of Australasia and holds a Bachelor of Arts f rom the University of
Auckland and a Diploma of Banking f rom Massey University.
CAROLYN KIDD
Chief Risk Officer
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GENERAL

Greg joined SkyCity in 2017 and was appointed Chief Information Officer
in March 2023. He is responsible for all aspects of SkyCity’s technology
strategy, including the development and execution of digital transformation
initiatives, and for leveraging emerging technologies to transform
business processes, drive operational efficiency and enhance the customer
experience.
Greg has over 25 years’ experience in New Zealand, throughout Europe,
the United Kingdom and North America. Prior to joining SkyCity, Greg held
senior technology leadership positions across a range of sectors, including
banking, insurance, local government, and telecommunications. He has
worked in a venture incubator and experimented with commercialising
concepts through technology start up to bring new products to market.
Greg holds a Bachelor of Science (Hons) f rom Leeds Beckett University,
United Kingdom, and a New Zealand Certificate of Engineering f rom the
Central Institute of Technology.
GREG WHEELER
Chief Information Officer
Shaun joined SkyCity as Chief People and Culture Officer in August 2023
and is responsible for leading the development and implementation of best
practice people and culture strategy across the SkyCity Group.
Shaun is a senior human resources executive with expertise in supporting
leadership and culture transformation, innovation and business execution
strategies across the telecommunications, financial services, and
inf rastructure sectors. Prior to joining SkyCity, Shaun held senior leadership
roles across Australia and New Zealand, including Chief People Officer
at Chorus New Zealand Limited and Executive General Manager Human
Resources at AMP New Zealand.
Shaun has a Bachelor of Commerce f rom the University of Auckland and is
a graduate of executive management programmes at the Harvard Business
School and the London Business School.
SHAUN PHILP
Chief People
and Culture Officer
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 f ramework 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 f ramework is set out
on pages 102-113 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.
SkyCity Board
Governance and
Nominations
Committee
People and
Culture
Committee
Audit
Committee
Risk and
Compliance
Committee
Standing Board Committees
Chief Executive Officer
Michael Ahearne
Group General
Manager - NZICC
Development
and Tourism
Simon Jamieson
Managing
Director
SkyCity Malta
Steve Salmon
Chief
Financial
Officer
Julie Amey
Chief Operating
Officer
Australia
David Christian
Chief Operating
Officer
New Zealand
Callum Mallett
General Counsel
and Company
Secretary
Jo Wong
Chief
Risk Officer
Carolyn Kidd
Chief
Information
Officer
Greg Wheeler
Chief People
and Culture
Officer
Shaun Philp
Chief Corporate
Affairs Officer
Nirupa George
Senior Leadership Team
IMAGE: SkyCity Auckland
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Our Workforce
As a major employer with over 4,500 staff, we know that
taking care of our people is the key to creating a great and
safe place to work.
Health, Safety and Wellbeing
The SkyCity Group Health, Safety and Wellbeing Strategy
(FY22 – FY25) focuses on a number of key themes to
continue SkyCity’s improvement journey, including
effective risk management, strong leadership and better
engagement, resources to support improvement, and
healthier people.
Over the last financial year, these strategic goals have
been successfully delivered through a FY23 Health, Safety
and Wellbeing Roadmap with the introduction of:
• a critical risk f ramework for identifying and managing
our most critical health and safety risks;
• a Group-wide wellness programme (an exercise
challenge) for improving employee wellbeing;
• a leadership safety observation and training
programme; and
• an employee consultation and participation
f ramework which included the introduction of around
100 trained Health and Safety Ambassadors across
our properties.
SkyCity has programmes in place to promote healthy
behaviours and personal responsibility for mental and
physical health.
As part of SkyCity’s wellness programme, all SkyCity
employees are invited to receive a f ree flu vaccination
each year. As healthcare can be expensive and sometimes
difficult to access, SkyCity also offers its permanent,
full-time employees across its New Zealand sites health
insurance via healthcare provider Southern Cross
We aim to create an environment where our people are at the centre of what we do,
ensuring that our staff can work safely, are motivated, can progress in their careers, and
have the tools and knowledge they need to look after both themselves and our customers.
We are committed to providing our employees with sustainable career paths at SkyCity
and want our staff to grow their careers with us.
Healthcare – by fully subsidising the RegularCare plan,
which provides shared cover for surgical treatment,
recovery, support, imaging and diagnostic tests and
day-to-day treatment. Employees are also able to add
their family members to the insurance plan at an
additional cost.
A range of services are also in place to assist employees
who may need a helping hand. SkyCity offers confidential
help and advice (for both work related issues and
situations outside of work) for employees at its Auckland
and Hamilton sites through the ‘Connect’ employee
advocacy team. A Group-wide Employee Assistance
Programme (delivered via EAP Services) also offers
supportive and confidential assistance to SkyCity
employees with support available 24 hours a day, seven
days a week f rom trained professional counsellors.
SkyCity also provides emergency financial assistance
for employees suffering financial hardship, including
budgeting advice and last resort financial help through
a ‘SMILE’ loan to New Zealand-based staff who qualify
for support.
SkyCity also offers a range of meal options across its
land-based casinos for staff during working hours – at no
cost to employees in Adelaide while on shift and at heavily
subsidised costs in New Zealand.
Leveraging its bulk buying power, SkyCity opened an
in-house ‘convenience store’ within its Auckland staff café
during the last financial year which offers basic household
items, such as bread, milk, butter and eggs, to employees
at cost prices.
INDICATORTARGETFY23 PERFORMANCE
Safety Success Indicator 1Zero fatalities or life altering injuries Achieved – no fatalities or life
altering injuries
Safety Success Indicator 2Total Recordable Incident Frequency Rate
(TRIFR) target of 24.3 across the Group
(Adelaide and New Zealand)
Achieved – TRIFR of 11.3 recorded
Safety Success Indicator 3Complete and record 600 health and safety
observations across the Group (Adelaide and
New Zealand)
Achieved – 1,835 health and safety
observations completed by staff
79
%
overall engagement score of
78
%
favourable achieved
82
%
proud to work
for SkyCity
89
%
feel their manager will act if
they identify a risk or safety issue
In FY23, our Auckland employees purchased
244,075
buffet meals (starting f rom $1.20 per meal)
9,419
cartons of eggs
6,805
loaves of bread
9,474
two-litre bottles of milk
would recommend SkyCity
as a great place to work
88
%
feel safe when
they are at work
78
%
of our staff participated in SkyCity’s biennial
employee engagement survey (MyVoice)
in May 2023, including 84% of all permanent
employees (full and part-time)
FY23 Health and Safety Scorecard
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Developing Meaningful
Career Pathways
Diversity and Inclusion
In addition to our core, enterprise-wide online e-learning
training programme for our employees (including host
responsibility, AML/CFT, privacy and cyber security
modules), we have a number of tailored development
programmes in place across our sites to achieve our
goal of being a great place to work where our people are
empowered to grow and to achieve. The SkyCity Strategic
Talent Management Programme is designed to identify,
develop and retain individuals who have potential for
future leadership roles or are able to fulfil business critical
roles – leveraging and growing existing high potential
Our vision is to be a centre of expertise that delivers high
value learning and development opportunities for staff which
contribute to the achievement of our business priorities.
talent through clarity on career pathways, delivering
impactful and relevant development solutions and
reducing the need to recruit leadership roles externally.
To ensure our programmes remain effective and relevant,
we regularly review the effectiveness of the programmes,
in terms of both interest and sustained impact, and make
refinements as required. New programmes are also
trialled and introduced where appropriate. We regularly
seek advice f rom staff on how to remove barriers to
participation (such as release time) and introduce better
incentives for participation.
We value and respect the contributions, ideas and
experiences of people f rom all backgrounds and are
committed to an inclusive workplace that enhances and
promotes workplace diversity across the business. We are
committed to providing opportunities and initiatives that
assist all to reach their potential, and regularly benchmark
and report on our diversity position, policy and objectives.
We have a strong representation of minority groups at
SkyCity who are often underrepresented at leadership
levels in the workforce. Encouraging diversity of thought
in our workforce, and in leadership roles in particular,
allows us to strategically reflect our diverse customer
base and draw people with different backgrounds to our
business. We believe this diversity of thought offers an
opportunity to enhance SkyCity’s competitive advantage
and provide long term sustainable business success.
Diversity and Inclusion Policy
SkyCity’s Diversity and Inclusion Policy (available in the
Governance section of the company’s website at
www.skycityentertainmentgroup.com) provides a
f ramework for the company’s current and future diversity
and inclusion initiatives. Each year, the SkyCity Board
sets measurable objectives to promote diversity and
inclusion. At the end of each financial year, these
objectives are reviewed along with the company’s
progress in achieving them.
The measurable objectives set by the Board for the
financial year ending 30 June 2024 are to:
• continue to ensure strong female candidates are
identified in the recruitment process for all Board
and senior executive roles;
• achieve and maintain gender balance in SkyCity’s
executive leadership team (gender balance is defined
as having 40% female representation, 40% male
representation and 20% any gender);
• maintain a gender balance across the SkyCity
employee population and at each tier of the
organisation hierarchy;
• continue to review gender and ethnic pay equality
and deliver an organisation-wide programme that
removes any risk of bias or inequality;
• continue to advance SkyCity’s indigenous pathway
strategy;
• leverage and grow diverse talent pools to develop a
more ethnically diverse leadership population;
• maintain certification with specialist organisations
who represent minority groups within the SkyCity
workforce (for example Gender Tick) to reiterate
our commitment to, and support of, these minority
groups’ interests;
• build the capability of all leaders in understanding
and leveraging diversity of thought through ensuring
appropriate awareness, education and capability
development solutions are delivered;
• continue to work with advisors and experts to provide
informed perspectives and guidance to the Chief
Executive Officer and Inclusion Council on diversity
and inclusion matters; and
• continue to provide support and education to
employees and managers to promote mental health
awareness and wellbeing.
SkyCity is New Zealand’s largest and most diverse
hospitality employer with around 300 chefs working
across over 20 kitchens in its restaurants and production
kitchens – the perfect environment for a future chef to
learn f rom the best chefs in the industry across a broad
range of cuisines, techniques and styles.
11 trainees joined the SkyCity Chef Apprenticeship
Programme at SkyCity Auckland in March 2023 –
a two-year programme for future chefs to hone their
culinary skills and gain a recognised qualification.
73
joined the Project Nikau programme during
the last financial year
rangatahi
(young people)
99
have enrolled in the Project Nikau programme
since it was launched in June 2019
recruits
Project Nikau is SkyCity’s award-winning youth
employment programme in New Zealand with a focus
on developing work-ready skills (see page 88 of this
annual report for further details):
Future chefs
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OBJECTIVEPROGRESS MADE
Continue to ensure strong female
candidates are identified in the
recruitment process for all Board and
senior executive roles
Recruitment briefs for the Board and senior executive recruitment
processes during the past financial year explicitly specified that SkyCity
required female candidates to be identified whenever possible.
Achieve and maintain gender balance
in SkyCity’s executive leadership team
(gender balance is defined as having
40% female representation, 40% male
representation and 20% any gender)
During the past financial year, there were three new appointments to the
executive leadership team and two resignations, resulting in 45% female
representation and 55% male representation in the executive leadership
team as at 30 June 2023.
Maintain a gender balance across the
SkyCity employee population and at
each tier of the organisation hierarchy
Gender balance has been maintained across the organisation with 48.5%
of employees being female, 51% being male and 0.5% being gender
diverse as at 30 June 2023.
Within the top four levels of the organisation hierarchy, 48% of employees
were female and 52% of employees were male as at 30 June 2023,
demonstrating an equal gender representation in our talent pipeline.
Continue to review gender and
ethnic pay equality and deliver an
organisation-wide programme that
removes any risk of bias or inequality
SkyCity continues to monitor and report on remuneration outcomes by
gender and ethnicity to ensure pay equality.
SkyCity also conducted gender pay equality analysis for like for like
positions, and positions with similar degrees of know-how, problem
solving and accountability. This analysis identified that there are no
indications of gender bias across similar positions.
While our analysis has identified no evidence of a gender driven pay gap
for like for like positions, we remain focused on addressing the overall
gender pay gap by increasing the representation of women in senior roles
(attracting higher remuneration) across the business through a gender
balanced talent pipeline.
SkyCity’s overall New Zealand gender pay gap decreased to 4.4%
(at 30 June 2023) f rom 6.8% (at 30 June 2022).
SkyCity’s overall Australian gender pay gap has remained at 3.5%
(at 30 June 2023).
Leverage and grow diverse talent
pools to develop a more ethnically
diverse leadership population
Several initiatives were delivered during the past financial year with the
objective of developing a more ethnically diverse leadership population.
SkyCity:
• commenced a programme of works with Hybridges, a cultural
intelligence consultancy, to address barriers to Pasifika success;
• continued as a major partner of TupuToa in New Zealand, hosting
three interns within the corporate business;
• continued its partnership with Career Trackers in Adelaide, hosting an
Indigenous intern within the corporate business; and
• initiated a new partnership with Te Tari Consultants to begin a pilot
programme of te reo Māori learning.
Intentional and targeted learning and development programmes
have resulted in a positive shift in female ‘Developing Top Talent’ in
leadership pipelines.
Maintain certification with specialist
organisations who represent
minority groups within the SkyCity
workforce (for example Rainbow Tick
and Gender Tick) to reiterate our
commitment to, and support of, these
minority groups’ interests
SkyCity achieved ‘Gender Tick Advanced’ status for the first time for its
New Zealand site and has expanded its support of rainbow inclusion and
diversity by committing to the higher ‘Gold Level’ Pride Pledge in New
Zealand.
Our Adelaide site maintained its Pride in Diversity membership.
OBJECTIVEPROGRESS MADE
Build the capability of all leaders
in understanding and leveraging
diversity of thought through
ensuring appropriate learning and
development solutions are delivered
SkyCity launched several bespoke enterprise leadership initiatives,
including flagship development programmes for rising leaders and senior
leaders that take a holistic, sustainable and culturally diverse approach to
leadership development.
Rainbow Awareness training was delivered to our Security teams and an
updated Rainbow e-Learning was delivered by our partner organisations.
An English as a second language (ESOL) sub-committee was established
to support development plans to address barriers for ESOL team
members.
The SkyCity Inclusion Council continued to encourage employee-led
initiatives and provide strong executive visibility and sponsorship across
the New Zealand properties. With the addition of a new youth focused
Employee Resource Group ‘Elevate’, there are now six core groups
represented in New Zealand - Winning Women, NZ Asian Leaders, SkyCity
Pride, Pasifika Village and Te Roopū Māori o SkyCity.
SkyCity Adelaide's Inclusion Council, which replicates the model already
established in New Zealand, is still in its formative stages, with core groups
represented being Women’s Voice, LGBTTIQA+, Life Stages, Aboriginal,
and Disability/Ability.
Continue to work with advisors
and experts to provide informed
perspectives and guidance to the
Chief Executive Officer and Inclusion
Council on diversity and inclusion
matters
Several specialists were engaged to provide perspectives and guidance to
both management and the SkyCity Inclusion Council Employee Resource
Groups with a focus on building cultural understanding and competence.
SkyCity’s relationship with mana whenua Ngāti Whātua Ōrākei in
Auckland continues to mature.
An ESOL sub-committee, reporting into the Inclusion Council, was
established to provide a governance lens for development programmes
specifically for ESOL team members.
Continue to provide support and
education to employees and
managers to promote mental health
awareness and wellbeing
A SkyCity Wellbeing Alliance Group has been formed, comprising
employees f rom across the Group, to ref rame SkyCity’s wellbeing strategy.
The purpose of this group is to ensure a healthy working environment
and deliver a united f ront for supporting and creating a healthy working
environment for the betterment of our people’s wellbeing and wellness
at work.
SkyCity introduced a Menopause Toolkit on International Women’s Day
2023. The toolkit provides education on the menopausal transition and
information regarding support for female SkyCity employees who are
impacted by menopausal symptoms.
To encourage men to discuss their mental health, a mental health
workshop was held at SkyCity Auckland in collaboration with ‘Soften up,
bro’ and Te Roopū Māori o SkyCity during Mental Health Awareness week.
A psychological safety programme, comprising workshops and coaching
sessions, was delivered at SkyCity Adelaide in partnership with Diversity
Inclusion Australia.
Preventing burnout coaching was rolled out to targeted individuals across
the Group, focusing on equipping employees with coping mechanisms
and better ways of working.
SkyCity performed well against the measurable objectives set by the Board to promote
diversity and inclusion for the financial year ended 30 June 2023.
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Employee Resource Groups
An Inclusion Council, comprising representatives of
various Employee Resource Groups, supports the
embedding of an authentic and inclusive culture at the
SkyCity Auckland and SkyCity Adelaide properties. The
leaders of the Employee Resource Groups bring together
their respective communities and work together to drive
initiatives that impact the groups they represent.
There are currently six core Employee Resource Groups
across SkyCity’s New Zealand properties - Winning
Women, NZ Asian Leaders, SkyCity Pride, Pasifika Village,
Te Roopū Māori o SkyCity and Elevate (representing
SkyCity’s young talent) - and five core Employee Resource
Groups at SkyCity Adelaide – Women’s Voice, LGBTTIQA+,
Disability/Ability, Aboriginal and Life Stages.
Supporting Our Rainbow Community
In New Zealand, SkyCity was one of the first signatories
to commit to the Pride Pledge when it first launched
in June 2018. The Pride Pledge is a values-based
commitment that organisations and individuals can
take to demonstrate their dedication to the safety,
visibility and inclusion of the rainbow members of their
community and workforce. Over the last financial year,
SkyCity has expanded its support of rainbow inclusion
and diversity by committing to the higher ‘Gold
Level’ Pride Pledge – reflecting SkyCity’s growth and
development in LGBTTQIP+ initiatives.
Our Adelaide site has been a member of Pride in Diversity
since 2018. Pride in Diversity is Australia’s first and only
national not-for-profit employer support program for all
aspects of LGBTQ workplace inclusion, providing training
and consulting services to assist organisations with all
aspects of LGBTQ workplace inclusion.
SkyCity Queenstown is also a Platinum Naming Sponsor
for the annual Queenstown Winter Pride Festival
and SkyCity Auckland has been the sponsor of the
Community and Advocacy category of the New
Zealand Rainbow Excellence Awards since the Awards
commenced in 2018.
Gender Tick
SkyCity was awarded the Gender Tick in 2019 in
recognition of its commitment to providing a fair
workplace for all employees and this status has been
reconfirmed each year since – most recently in April 2023
(achieving accreditation at the ‘Advanced’ level).
Created in 2018, Gender Tick is a New Zealand-based
accreditation for businesses to demonstrate their
commitment to gender equality in the workplace. The
programme assesses organisations across five key
indicators, including gender inclusive culture, flexibility
and leave, women in leadership, gender pay equality and
ensuring a safe workplace.
Pay Equality
SkyCity continues to monitor and report on remuneration
outcomes by gender to ensure pay equality. In the last
financial year, SkyCity again conducted gender pay
equality analysis for like positions (being positions with
similar degrees of know-how, problem solving and
accountability). This analysis identified that there are no
indications of gender bias across similar positions.
We remain focused on increasing the representation
of women in senior roles across the business through
a gender balanced talent pipeline. These initiatives, in
addition to a strategy deployed over the past five years
to lift the hourly wage rate of SkyCity’s lowest paid staff,
have contributed to a meaningful reduction to SkyCity’s
gender pay gap in New Zealand.
NEW ZEALANDAUSTRALIA
SkyCity Gender
Pay Gap*
(as at 30 June)
National
Gender Pay Gap
SkyCity Gender
Pay Gap*
(as at 30 June)
National
Gender Pay Gap
20234.4%9.2%
(August 2022)
3.5%13.3%%
(November 2022)
20226.8%9.1%
(August 2021)
3.5%13.8%
(November 2021)
20216.9%9.5%
(August 2020)
6.1%13.4%
(November 2020)
20207.5%9.3%
(August 2019)
1.5%13.9%
(November 2019)
20198.2%9.2%
(August 2018)
1.5%14.1%
(November 2018)
* The percentage difference between the median hourly rate for women compared to the median hourly rate for men as at 30 June in the relevant
year (including permanent and temporary employees).
Research has shown that organisations which integrate pay transparency practices into remuneration principles are
better able to recognise and address gender pay gaps (the difference between the median amount women and men
are paid within an organisation) and gender pay equity (ensuring women and men are paid the same for work of
equal value). Over recent years, SkyCity has taken a leading position in New Zealand and Australia in relation to pay
transparency through the publication of our gender and ethnic pay gaps, as well as the measurable actions SkyCity is
taking to reduce underrepresentation and areas of disparity which may lead to gender and ethnic pay gaps.
Gender Pay Gap
The following table illustrates the SkyCity gender pay gap as at 30 June 2023 and as a comparison against the prior
periods and the respective national gender pay gaps:
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Gender Composition
The gender composition of SkyCity’s directors, officers, senior executives and total workforce as at 30 June 2023 and,
comparatively as at 30 June 2022, is set out below:
2022FEMALEMALE
Number%Number%Total
Directors360%240%5
Officers444%556%9
Senior Executives 556%444%9
Total Workforce1,93349%1,97751%3,923
2023FEMALEMALE
Number%Number%Total
Directors233%467%6
Officers440%660%10
Senior Executives 545%655%11
Total Workforce2,20749%2,32551%4,532
In the above tables:
• ‘officers’ are the Chief Executive Officer and those directly reporting to the Chief Executive Officer, other than the Executive Assistant;
• ‘senior executives’ are, with the exception of the Chief Executive Officer, those who hold a strategic position (as determined by the People and
Culture Committee f rom time to time); and
• the ‘total workforce’ number does not include those who identify as gender diverse and those who elected not to identify as being female, male
or gender diverse.
No directors or officers self-identified as gender diverse as at 30 June 2022 or 30 June 2023.
SkyCity is a signatory to the 40:40
Vision - an investor-led initiative to
achieve gender balance across the
executive leadership teams of all
ASX200 companies by 2030
- 40% women, 40% men and
20% any gender.
NEW ZEALAND
SkyCity Ethnic Pay Gap as compared to
Pakeha Men (as at 30 June 2023)
SkyCity Ethnic Pay Gap as compared to
Pakeha Men (as at 30 June 2022)
Pakeha Women2.9%6.8%
Māori Women10.3%14.0%
Pacific Women7.9%13.8%
Asian Women6.0%10.9%
AUSTRALIA
SkyCity Ethnic Pay Gap as compared to
European Men (as at 30 June 2023)
SkyCity Ethnic Pay Gap as compared to
European Men (as at 30 June 2022)
European Women0%0%
Asian Women13.2%13.4%
Ethnic Pay Gap
The following table illustrates SkyCity's ethnic pay gap as at 30 June 2023 and, by way of comparison, as at 30 June 2022:
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Our Staff Numbers
Total Headcount for Group
NUMBER OF
EMPLOYEES%
SiteFY23FY22FY23FY22
Adelaide1,3751,29730%33%
Auckland2,8292,30962%59%
Hamilton3022687%7%
Queenstown 53491%1%
Group Total4,5593,923100%100%
Employment Contract Type for Group
NUMBER OF
EMPLOYEES%
Contract TypeFY23FY22FY23FY22
Permanent4,0763,49689%89%
Temporary48342711%11%
Group Total4,5593,923100%100%
Worked Full-Time Equivalent (FTE)* by Site
NUMBER OF
EMPLOYEES%
SiteFY23FY22FY23FY22
Adelaide92584328%29%
Auckland2,1651,83064%63%
Hamilton2292047%7%
Queenstown 44411%1%
Total3,3632,918100%100%
* The FTE calculation is based on actual hours worked by staff, not contracted hours.
This definition provides a more accurate assessment of full-time equivalent staff.
Employment Contract Type by Gender for Group
FEMALE
GENDER
DIVERSEMALE
GROUP
TOTAL
Contract TypeFY23FY22FY23FY22FY23FY22FY23FY22
Permanent90%89%82%80%89%89%89%89%
Temporary10%11%18%20%11%11%11%11%
Employment Type by Gender for Group
FEMALE
GENDER
DIVERSEMALE
GROUP
TOTAL
Contract TypeFY23FY22FY23FY22FY23FY22FY23FY22
Full-Time52%50%50%30%60%61%56%56%
On Demand18%22%36%60%16%18%17%20%
Part -Time30%28%14%10%24%21%27%24%
Employment Contract Type by Site
ADELAIDEAUCKLANDHAMILTONQUEENSTOWN
Contract TypeFY23FY22FY23FY22FY23FY22FY23FY22
Permanent70%68%97%100%100%100%94%100%
Temporary*30% 32%3%0%0%0%6% 0%
*Adelaide defines casual employees as temporary whereas the New Zealand sites define employees with a fixed end date as temporary.
Employees in Collective Agreements by Site
ADELAIDEAUCKLANDHAMILTONQUEENSTOWN
GROUP
TOTAL
FY23FY22FY23FY22FY23FY22FY23FY22FY23FY22
Yes77%77%23%21%2%3%0%0%38%38%
No23%23%77%79%98%97%100%100%62%62%
*Group total percentages are weighted proportionately based on site worked FTE.
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IMAGE: SkyCity Adelaide precinct
Sustainability
At SkyCity, we recognise that
sustainability is critical to all levels
of our business and operations.
SkyCity is committed to maintaining the highest levels of
sustainability objectives and practices. 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.
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, we adopted our 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. This f ramework
was 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 ref reshed set of sustainability pillars.
Given the considerable external and internal change
in relation to sustainability practices, perspectives and
operating context, we commenced a review of SkyCity’s
sustainability f ramework and strategy in early 2022
- the purpose of which was to understand the drivers for
sustainability for SkyCity into the early-mid 2020s, adopt
a fit-for-purpose f ramework for driving sustainability
decisions in the business, and gain confidence that
SkyCity’s sustainability activity was aligned to
organisational purpose and strategy and reflective of
the operating context. Following the review, we adopted
a new integrated business strategy f rom 1 July 2022
that integrates environmental, social, and governance
considerations into our current business strategy – as
further detailed in the Group Strategy section of this
annual report.
In mid-2022, SkyCity also developed and adopted a new
three-year sustainability implementation plan for
FY23 – FY25 which reflects the priority sustainability
activity underpinning our new integrated business
strategy. The areas identified as priority issues are those
considered highly material for SkyCity’s business and for
our stakeholders. We continue to focus on embedding
our sustainability f ramework and strategy into all levels of
the organisation and in the way SkyCity operates.
What Matters Most
We undertake a materiality assessment on a regular
basis to prioritise the issues that are most important to
our business and key stakeholders in the short, medium,
and long term. The materiality assessment determines
issues critical to SkyCity’s financial performance and its
broad set of stakeholders, including investors, employees,
customers, wider society and the environment.
In May 2023, we conducted a materiality assessment with
key stakeholders with the assistance of an independent
consultant. Stakeholders were asked to identify and
score SkyCity’s most material topics f rom a shortlist
of potentially material issues identified by the SkyCity
Senior Leadership Team and expert advice using the
International <IR> Framework’s definition of materiality.
The shortlist was derived f rom a longer list of relevant
matters identified via desktop research, a scan of media
and industry best practices, insights f rom the SkyCity
Senior Leadership Team and Board, the review of SkyCity’s
sustainability f ramework and strategy in early 2022, and
a review of SkyCity’s most recent materiality assessment
process in 2020.
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.
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SUSTAINABILITY