19 October 2012 Listed Company Relations NZX Limited Level 2, NZX Centre 11 Cable Street WELLINGTON Dear Sir/Madam RE: SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)

ANNUAL MEETING OF SHAREHOLDERS Please find attached the following prepared announcements that will be delivered at the company’s annual meeting of shareholders to be held at 10.00am today: (a) Chairman’s Address; and (b) Chief Executive Officer’s Presentation. Also attached is a copy of the company’s media release of today’s date. Copies of these announcements will be available from SKYCITY’s website later today. Yours faithfully Peter Treacy Company Secretary

Chairman’s Address: Rod McGeoch It’s always a pleasure to be able to share a strong result with shareholders. It’s a pleasure I’ve enjoyed often as Chair of this company. No director of a publicly listed company could ever responsibly say that they had achieved the perfect result - because there is always a wish on the part of the Board, management and shareholders to do better, but what I can say with certainty is that we have never achieved these levels of revenue or profit before. I can also say that a remarkably consistent track record of financial growth through good times and tougher times is no accident. It stems from strong planning, excellent management and decisive execution. We demonstrated that again this year - using the massive global event that is the Rugby World Cup to show not only that we are fantastic hosts, but that we were never going to let such a wonderful opportunity to reposition ourselves for the future slip by. SKYCITY was a key centre of attention during those magical days, but the assets that remain now, after the crowds have left, are what we will build our future business on. The conversion of Federal Street and the new EIGHT and Horizon offerings delivered our company and this city a bustling restaurant precinct, an exciting International Business offering, and a revitalised local VIP gaming facility. The biggest lesson from the success of these developments and from what major gaming venues in places like Macau and Singapore are achieving is that bold, ambitious gaming venues have a crucial role to play in integrated tourism infrastructure. People are drawn to iconic destinations to game, to dine, to celebrate, to shop … These places are, as I noted in my report this year, the venues for life’s big events, personal and national. This year, we have unveiled another of those inspiring venues in Darwin, released plans to do the same in Hamilton with a beautiful 4.5 star hotel there, and continued to press our case for the right to develop a world-class New Zealand International Convention Centre and a city-changing integrated entertainment complex in Adelaide that would form part of a significant development of the Torrens Riverbank. Gaming entertains, no question – but it doesn’t just entertain. It can help cities become more competitive as travel and event destinations. And it can support and help grow significant infrastructure. However the capital required to generate such competitiveness and such infrastructure can only go where it gets a return. We want to be involved. We want to grow the cities we are part of, and feel a part of – but we can only do so if we are assured that you, our shareholders will, in all likelihood, get a competitive return. That’s what we’re negotiating for right now. What our critics conveniently overlook sometimes is just how much we participate in, and contribute to, the economy and the community. We are a very important tourism asset that all New Zealanders can be proud of. We’re the ones spearheading bold developments right now that communities in Auckland, Adelaide, Darwin and Hamilton will benefit from. We’re the company employing and training a lot of people at a time when many companies aren’t or can’t. Across our six venues, including Christchurch, we currently employ around 6620 people. In Auckland, 800-1000 new people register their profile/CV with us every month and we currently have 111,000 applicants on our database. We receive 3,000-3,500 job applications every month in Auckland, and 80% of all hires approach us directly. One third of all hires are our internal staff, showing just how effectively we provide pathways for internal staff to move into new and exciting careers.

Head to gaming venues anywhere in Asia-Pacific and indeed further afield and chances are there are people working there who started their careers here – at the tables, in our hotels, in our kitchens. It’s hugely pleasing to me to know not only that we develop so many careers but that the calibre of that training is high enough for those people to then win jobs all over the world. For the Board, the challenge of what we are developing here is not just measured against what we did last year or even how we performed against our competitors in the pubs and clubs. Our challenge is to extend a globally competitive business out into our venues in New Zealand and Australia – through the properties and the products we develop, through the people that we train and through the plans that we bring to fruition. Once again, as we celebrate a strong result, credit and thanks to Nigel Morrison and his Executive Management team for another year of well-judged leadership, and to the people of this company who work tirelessly every day to deliver our customers experiences that keep them coming back for more. Following on from the founding Managing Director is a challenge for any leader. Nigel Morrison has not only met that challenge but has attracted to this company a team capable of delivering his take on the future of the organisation. I count the changes in Federal Street, the growth of our International Business and the success of our hotels as transformational moments in his company’s history. What gives me the greatest reassurance though is that, with the delivery of the new resort in Darwin and with the plans for Adelaide, the International Convention Centre and Hamilton, there is clearly much more to come. Last year, I promised a smooth and seamless change-over when I retired as Chair at this meeting after eight and a half years in the role. I’m the first to acknowledge that continuing as a director having been Chair is slightly unusual. But, with the significant capital spend underway in Australia right now, I’m excited by the contribution those assets can deliver and as I step back into the ranks as a Director, I look forward to participating in what lies ahead. I think we have a very talented Board, filled with astute and spirited people who bring experience and insights to our deliberations. And I know that in Chris Moller and Bruce Carter, this Board will be carefully and decisively led. I first met Chris through the Rugby World Cup, and that experience gave me a confidence in his leadership skills that has only increased with time. Equally in Bruce Carter we have as our Deputy Chair the businessman that the Australian Government trusted to see through its GST review. Moreover Bruce’s recent appointment as Chair of the Australian Submarine Corporation again demonstrates the Australian Government’s confidence in him to lead complex projects and maintain Australia’s highest security clearance. Together, Chris and Bruce ensure we will continue to have at our helm people with a very practical understanding of Government, of the markets, the regulators, culture, people and opportunities; two men with the credentials and the experience to represent SKYCITY on a range of occasions. The calibre of individuals that make up your Board is no accident. In fact, I would venture to suggest that the current directors continue a line-up of SKYCITY directors that any publicly listed company would be proud to include in its line-up. At the same time as we welcome Richard Didsbury to the Board, I look back to the people I have served alongside on this Board and, without wishing to indulge in nostalgia, I can honestly say that I am richer for the experiences of having worked with directors such as Patsy Reddy, Sir Dryden Spring, Elmar Toime, Bill Trotter and Evan Davies. Two thoughts to close on. The first – our need to continue important conversations. I’m proud of the partnership we’ve built with Government. We don’t agree on everything,

and there is inevitably negotiation in what we settle on, but on balance I believe the relationship is healthy and inclusive. We choose to do business in a regulated industry, and talking with Government is a critically important part of that. I’m confident that there is trust and goodwill between our parties, and that we are seen by Government as a respectable and respectful business that gets on with building and developing a responsible and financially sustainable gaming Group. Just as important is our need to take the markets with us. You invested in us because you believe in what you’re doing and what we’re planning. It’s important that we take you, our current investors, and others, our potential investors, with us. That means continuing to talk clearly and openly about our plans. My final thought is a more personal one. When I took on my role with SKYCITY, I never expected that it would change a basic aspect of my career, in the sense that I would never have believed that what I do and what I’m involved with would have such a deeply New Zealand aspect to it. As a result of my time as Chair, I can tell you that I am truly two minded about even rugby. I have a duality of loyalty that means I haven’t felt disappointed about the Bledisloe Cup outcome for many years – no matter who wins. I haven’t just become involved in the company, I have become involved with the country. That makes the emotional attachment much deeper than it might have been otherwise – and at no time more so than during the earthquakes. At a business level, I was concerned as Chair about our people and our assets and I shared that concern naturally with every Board member, every person in management, everyone who works here. At a personal level, there was an abiding distress that a nation I care about, people I consider mates, were going through very difficult times. Part of being here and of spending time here is that this country, in good times and tough times, does become part of you. I’m honoured to have been Chair of this company. I’m proud to continue as a Director of this company. These are not the easiest of times to be looking to achieve growth but as we continue to search for efficiencies, as we invest in venues that keep us competitive, and as we look to negotiate commercial returns for projects such as the National Convention Centre in Auckland and the Riverbank project in Adelaide, I’m confident that we can continue to make significant contributions to the future of economies, to the future of communities and to your own financial futures. I’ll now hand over to Nigel Morrison, our Chief Executive, to provide his perspectives and an update on trading to date. Ladies and gentlemen, Nigel Morrison …

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Chief Executive Chief Executive Officer’s Address 2012

Nigel MorrisonNigel Morrison

Highlights of h dithe year ending 30 June 2012

Ni l M iNigel MorrisonCEO

Presentation to 2012 Annual MeetingFriday 19 October 2012

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Strong result, with Normalised NPAT of $141.4m +8.0% on FY11

Group Normalised Revenue of $950.7m (+8.4%) 

Group Normalised EBITDA of $310.6m (+6.8%)

Rugby World Cup 2011 a one‐off boost to Revenue of $11.5m, EBITDA $6.5m and NPAT $4.7m

E l di g RWC  FY12 G  N li d R  $939 2    7 1%   FY11

FY12 Result Highlights

Excluding RWC, FY12 Group Normalised Revenue $939.2m, up 7.1% on FY11

Reported NPAT $138.5m, up $15.5m (+12.6%)

Momentum continues in core businesses

Flagship Auckland Normalised Revenues of $527.4m, up $66.2m (+14.4%) (+12%, ex‐RWC)

Momentum continues with the opening of Horizon, Eight, Diamond Room and Federal St

Auckland Gaming Machines FY12 Revenue growth of 10% highlights success of private gaming areas

Darwin returned to growth in second half FY12 and outlook is positive for FY13 and beyond

Hamilton had a strong year and will benefit from further planned investment in hotel

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$950.7mUp 8.4%Up 8.4%

NormalisedRevenues

NormalisedEBITDA

$310.6mUp 6.8%Up 6.8%

NormalisedNet Profitafter Tax

$141.4mUp 8.0%Up 8.0%

NormalisedEarningsper Share

24.5cents

Up 8.0%Up 8.0%

International Business delivered strong growth

Group International turnover up from $1.5 billion in FY09 to over $4.2 billion in FY12

New “Horizon” facilities in Auckland with 4 private Gaming Salons, 7 VIP Suites increased 

Normalised Revenues to $51m, up $25m (+95%)

FY12 Result Highlights

Export income ‐ and our strongest growing segment with expanded sales network in Asia

Actual IB win rate 1.13% in FY12, lower than theoretical of 1.35% (avg. over last 2 years – 1.35%)

Anticipating good growth from Darwin in FY13, where two new "Horizon" suites opened 3 August

Focused and prudent capital investment

In FY12, we invested $165m in capital expenditure across the Group, mostly comprising:

Upgrading our Flagship Auckland property ($32m)

Horizon, Eight, Restaurants on Federal St, Diamond Room…

Darwin’s Lagoon Resort and VIP Gaming villas  which opened on 27th July ($32m)

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Darwin s Lagoon Resort and VIP Gaming villas, which opened on 27th July ($32m)

Implementing the Bally Gaming system across Auckland and Adelaide ($10m)

Maintenance capex spend across the Group ($52m)

Acquisition of a land bank potentially for NZICC adjacent to Auckland site ($32m)

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Repaid $250m USPP debt in March 2012 

Net debt at 30 June 2012 was $659m with no further repayments due until 2H15

Current facilities offer a combination of flexible, lower cost bank debt, with longer term USPP

SKYCITY Capital Notes comprise $56m issued on the NZX and a further $94m in Treasury Stock

Strong Balance Sheet & well funded for Future Growth

p p y

In May 2012, Standard & Poor’s reaffirmed our Investment Grade BBB‐ rating, Stable Outlook

Confident about our ability to fund future development projects:

June 2012 Net Debt : Normalised EBITDA of only 2.1 times

$430m committed undrawn facilities (incl. $94m Treasury Stock), with additional capacity and 

in addition to strong operating cash flow

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Maximising Total Shareholder Return (TSR)

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Our Core Objective – Maximise TSR

One of SKYCITY’s core objectives is to maximise Total Shareholder Return (TSR) 

TSR includes both

Growth in the SKYCITY share price (capital growth); and

Dividends paid to shareholders (yield) Dividends paid to shareholders (yield)

We measure our TSR performance against local NZX and regional gaming peers

We strive to be in the top quartile (the top 25%) of NZX 50 public companies

Over the last 12 months, SKYCITY’s TSR was 18.9%

the 18.9% TSR was made up of a 13.8% increase in share price from $3.34 to $3.80 and cash 

dividends paid of $0.09 in March 2012 and $0.08 in September 2012 (assuming reinvestment 

of dividends)

Over the last 2 years, SKYCITY’s annualised TSR has been 18.8%

These returns compare favourably with our NZX peer group and regional competitors

SKYCITY has demonstrated that it can consistently provide strong returns to shareholders

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Total Gross Performance Relative to NZX Peers

Last 12 months

1.30

0.90

1.10

SKYCITY 18.9%

F&P Healthcare (8.6)%

NZ50G 16.7%

Fletcher Building 0.4%

Air New Zealand 18.7%

Auckland Airport 20.1%

Sky TV (3.1)%

Warehouse 2.0%

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Data as at 5-Oct-12. Assumes dividends are reinvested in equivalent amount of shares as at the ex-dividend date. Rebased to SKC at the beginning of the periodSource: IRESS

0.70

Oct-11 Dec-11 Feb-12 Apr-12 Jun-12 Aug-12 Oct-12

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Total Gross Performance Relative to NZX Peers

1.50

SKYCITY 18 8%

Last 2 years

0 70

0.90

1.10

1.30

SKYCITY 18.8%

F&P Healthcare (10.6)%

NZ50G 9.9%

Fletcher Building (0.3)%

Air New Zealand 0.4%

Auckland Airport 17.2%

Sky TV 6.0%

Warehouse (8.2)%

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Data as at 5-Oct-12. Assumes dividends are reinvested in equivalent amount of shares as at the ex-dividend date. Rebased to SKC at the beginning of the periodSource: IRESS

0.50

0.70

Oct-10 Dec-10 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Apr-12 Jun-12 Aug-12 Oct-12

Major Developments over FY 2012

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New “Horizon” Suites

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New “Horizon” VIP Gaming Salons 

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New “Eight” VIP Gaming Precinct 

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New “Diamond” VIP Gaming Lounge 

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NZ Restaurant of the Year – “The Grill”

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Supreme Winner – Depot

Metro MagazineMay 2012

DEPOTEATERY & OYSTER BAR

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Cuisine MagazineAugust 2012

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Darwin's exciting new Lagoon Resort, was officially opened by the then Chief Minister The Hon 

Paul Henderson on 27 July 2012; comprising:

32 rooms, half with private swim up sun decks

two international VIP Villas and gaming salons

Darwin ‘s Lagoon Resort opens

day spa

new seafood restaurant (The COVE) and Terrace Bar and swim up Lagoon bar

The initial performance of the resort has been strong, averaging over 80% occupancy, with 

average room rates above A$330 and COVE with 200‐300 covers daily

This complements the existing 120 room hotel and underpins SKYCITY Darwin’s position as the 

leading integrated resort in Northern Australia

Darwin represents a significant opportunity for growth, given the proximity to gaming demand in 

S th E t A i   d      l d   i g  gi g i t t i  th    f iliti

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South East Asia and we are already seeing encouraging interest in the new facilities

The upside in Darwin’s economy from major investments such as the $32 billion Inpex Ichthys LNG 

project, gives us confidence that our Darwin property offers attractive prospects

Darwin Highlights – Lagoon Resort open

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Darwin Highlights – Lagoon Resort open

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Darwin Highlights – Lagoon Resort open

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Darwin Highlights – Lagoon Resort open

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Darwin Highlights – Lagoon Resort open

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Northern Territory Restaurant of the Year “EVOO”

Exquisite  |  Elegant  |  Fine Dining

EVOO is Darwin’s ultimate fine dining experience,

presenting an unforgettably styled menu and

ambience that will hypnotise your senses

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What’s Planned for FY 2013?

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Federal St welcomes Nic Watt ‐MASU

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We have approved the development of a 4+ star hotel with 135 rooms above our Hamilton 

property

We anticipate the total cost to be around $35m

New Hotel – SKYCITY Hamilton

We believe the hotel development brings much needed quality hotel accommodation to 

central Hamilton

It will significantly improve the facilities that we are able to offer to our existing and future 

customers

The hotel will include luxury duplex suites for our premium customers, large suites with river 

frontage, in addition to over 100 standard rooms

The hotel plans also include a swimming pool  sauna and gymnasium

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The hotel plans also include a swimming pool, sauna and gymnasium

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New Hotel – SKYCITY Hamilton

Artists impressionArtists impression

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Level 2 of the Darwin casino is being redeveloped at a cost of $7‐8 million to significantly 

enhance the VIP gaming experience for Interstate and local visitors and provide greater 

flexibility to service International visitors 

Th   h t   ill  id

SKYCITY Darwin’s Level 2 VIP Re‐development 

These enhancements will provide:

a new International “Groups” gaming Salon to complement the private gaming salons 

recently opened in the Lagoon Resort

new VIP tables precinct – similar to Eight in Auckland providing an enhanced table games 

experience for our many interstate and local VIP visitors

a new VIP EGM gaming room – “Platinum” room

new bars, lounge and dining options

The NT regulator (LRAS) has given its approval for Ticket In Ticket Out (“TITO”) within the 

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redeveloped VIP facilities

this will allow us to compete on an equal footing with our competitors in Melbourne and 

Sydney

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SKYCITY's planned Level 2 VIP Re‐Development

Preliminary Plan

Private EGM Salons

VIP Bars and 

Lounges

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Private Tables Salons

We remain focused upon successfully negotiating an outcome which would see SKYCITY invest up 

to $350 million to develop, own and operate New Zealand's International Convention Centre

In return, SKYCITY is seeking:

an early renewal of the Auckland casino licence beyond 2021

New Zealand International Convention Centre

y y

an increase in gaming product to meet demand and provide for future growth, and 

changes to gaming regulations which would increase the efficiency and attractiveness of our 

gaming product and make us competitive with Melbourne and Sydney

The Auditor‐General is due to deliver its report regarding the Government’s original expressions of 

interest process imminently

following completion of this report we hope to re‐engage with the Government and see if we 

can conclude these negotiations

We have spent around $40m (as at end Sept) acquiring a valuable land bank adjacent to our 

A kl d  it  b t  H b   d N l   t t

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Auckland site between Hobson and Nelson streets

There is no doubt New Zealand needs to invest more in tourism infrastructure and a facility like this 

will increase tourism and deliver much needed jobs and economic growth

Shareholders should remain assured that the proposed transaction will only proceed on the basis 

that an acceptable return on capital can be delivered from the total project

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New Zealand International Convention Centre

Artists impression

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Progress is being made with the South Australian Government regarding the future taxation framework, the legislative and regulatory framework and the potential size and scale of a re‐developed Adelaide integrated entertainment facility 

Both parties are working to a timetable to conclude an agreement by 31 December this year

Adelaide Expansion and Redevelopment

Both parties are working to a timetable to conclude an agreement by 31 December this year

We believe this is an outstanding growth opportunity both for SKYCITY and for Adelaide and South Australia. The potential for an integrated entertainment complex in Adelaide is significant

The redeveloped integrated entertainment facility is planned to feature a boutique 6 star hotel, expanded gaming – including International and VIP gaming, signature restaurants and bars, a day spa and a significant underground car park

Such a facility has the potential to deliver significant benefits to South Australia through increased jobs, tourism opportunities and taxation revenues 

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j , pp

Shareholders should remain assured that the proposed investment will only proceed on the basis that an acceptable return on capital can be delivered for shareholders

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Adelaide Riverbank Development Concept

Artists impression

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Trading and Trading and Operations Update 

First Three Months FY13

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YTD 17 October – Group Revenue (incl Gaming GST)

Unaudited 

$m %

1 Jul ‐ 17 Oct Movement

FY13 FY12

1 Jul ‐ 17 Oct

$m

1 Jul ‐ 17 Oct

$m

New Zealand Casinos

■ Auckland 146.1 153.7 (7.6) (4.9%)

■ Hamilton 17.6 15.4 2.2 14.2%

■ Christchurch, Queenstown, Other 4.5 3.8 0.8 20.5%

Total New Zealand 168.2 172.9 (4.7) (2.7%)

Australian Casinos

■ Adelaide (A$) 49.6 49.3 0.2 0.5%

■ Darwin (A$) 44.2 39.3 4.9 12.4%

Total Australia (A$) 93.8 88.6 5.1 5.8%

Total Australia (NZ$) 120 2 111 3 8 9 8 0%

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Revenue (including Gaming GST) is shown above to facilitate Australasian comparisons. Normalised revenue adjusts for International Business (IB) at theoretical win rate of 1.35% Note Last year: Rugby World Cup 2011 had one more week to go with the Grand Final held in Auckland on 23 October 2011.

Total Australia (NZ$) 120.2 111.3 8.9 8.0%

Casino Revenues incl Normalised IB  (incl Gaming GST) 288.5 284.2 4.3 1.5%

Adjust International Business to actual win rate (5.3) 5.1 (10.4)

Reported Revenue incl Actual IB (incl Gaming GST) 283.2 289.3 (6.2) (2.1%)

New Zealand

Auckland revenues of $146.1m are down 4.9% ($7.6m), due to: Year‐to‐date FY12 including the benefit of the 2011 Rugby World Cup, resulting in stronger 

hotels revenues at that time, estimated at $7m Introduction of the new Bally gaming system, where gaming bonus points are no longer 

YTD 17 October – Group Revenue (incl Gaming GST)

Unaudited 

t oduct o o t e e Ba y ga g syste , e e ga g bo us po ts a e o o gerecorded as revenue or as cost.  Accordingly, YTD FY13 EGM revenues and costs are both approx $5m lower than last year.  EGM turnover for the period is up by approx 2%

Continued good growth in Hamilton up 14%, supporting our decision to invest further in this region

Queenstown is maintaining momentum and Christchurch is starting to perform better

Total NZ Revenues of $168.2m are down 2.7% ($4.7m), reflecting the Auckland result as above

Australia

Total Australian revenues up 6%, led by Darwin following the opening of the Lagoon Resort 

Australia is up 8% when adjusted for the currency exchange to NZ dollars 

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Group Overall

International Business continues to grow with normalised revenues of $20m up 40%

For the period to 17 October, Group Normalised Revenues are up 1.5%

On a Reported basis, Group revenues are down 2.1% reflecting a lower IB win rate than PCP

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Focus and OutlookFocus and Outlookfor FY13

Our Focus for FY13

New Zealand

To continue to capitalise on the investments made in Auckland in FY12, particularly our International Business in “Horizon” and "Eight"

To reinforce “Federal Street” as the leading restaurant and entertainment precinct in Auckland, with the introduction of additional great restaurants, including Nic Watts “MASU”

To optimise the benefits of the new Bally gaming system

Progress the development of the Hamilton Casino Hotel project

To conclude negotiations with the NZ Government on the NZICC development and expansion and regulatory reforms

Darwin

To capitalise on returns from investment in the Lagoon Resort and the new “Horizon” Villas d S l   d  l t  th   d l t  f th    VIP L l   G i

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and Salons and complete the redevelopment of the new VIP Level 2 Gaming

Adelaide 

To conclude our negotiations with the SA Government and Casino Task Force regarding the future tax and regulatory framework facilitating the transformation of the Adelaide Casino into a truly world‐class integrated entertainment complex

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Outlook for FY13

Our sense of the Auckland and NZ economy is that it is somewhat flat and that the outlook is 

uncertain.  However, we expect that our flagship Auckland property will continue to benefit from 

the capital improvements made and that they will continue to deliver growth

Based on the momentum we are experiencing  we anticipate that Hamilton and our other NZ  Based on the momentum we are experiencing, we anticipate that Hamilton and our other NZ 

businesses will deliver improved results on FY12

Adelaide is also somewhat flat, with the consumer discretionary environment having softened and 

with the RBA recently lowering interest rates and flagging further potential cuts. However, we are 

very pleased with the potential Darwin presents and, as seen in the first quarter revenues, 

Darwin's growth should underpin our Australian businesses in FY13

Obviously the first half of last year included the uplift from the 2012 RWC which will make 

delivering a first half result this year that matches that result somewhat challenging 

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Based upon current market conditions and trading patterns, we would be disappointed if we did 

not deliver full year Normalised Group NPAT for the year ended 30 June 2013 in the $140 millions

We will update shareholders further following the release of our first half results on Wednesday 13 

February 2013

MEDIA RELEASE 19 October 2012

SKYCITY growth continues into new financial year Recent capital investments into Auckland’s Federal Street dining precinct and new

international VIP facilities continue to deliver revenue growth

SKYCITY Entertainment Group today announced normalised revenue growth for the period to 17 October FY13. The results were announced by SKYCITY Entertainment Group Chief Executive Nigel Morrison at the company’s Annual Meeting this morning. Normalised Group revenue of $288.5m for the period to 17 October FY13 is 1.5% higher than the same period in FY12. “Last year was a record for the Group and to see growth continuing is pleasing given the strong first half of last year which benefited from the 2011 Rugby World Cup. We have invested in a number of key areas of our business, with particular focus on our international VIP customers in Auckland and now in Darwin and also in creating the award-winning restaurant precinct in Federal Street. It’s great to see these investments really paying off,” says Nigel Morrison. On a reported basis, Group revenue is down 2.1% or $6.2m, due to a softer win rate in International Business in FY13 compared to the same period last year. New Zealand SKYCITY Auckland revenue was down $7.6m (4.9%) in the period to 17 October FY13 from $153.7m to $146.1m. This is primarily attributable to the one-off boost from the Rugby World Cup last year of approx $7m and adjustments made for the introduction of the new Bally gaming system. Under this new system, gaming “bonus points” are no longer recorded as revenue or costs. Accordingly, both gaming machine revenues and costs are approximately $5m lower this year than in the corresponding period last year. Gaming machines turnover for the period is up approximately 2%. The new Federal Street restaurant precinct continues to attract new customers, with Al Brown’s Depot and Sean Connelly’s The Grill winning several esteemed New Zealand and Auckland restaurant awards in 2012. Depot was awarded Best Restaurant, Best New Restaurant and Best Bistro in the Metro Restaurant of the Year Awards. The Grill won both Best New Restaurant and Restaurant of the Year at the 2012 Cuisine Magazine Restaurant of the Year Awards. Both restaurants were also named in the Cuisine Top 50 restaurants in New Zealand and Metro Magazine’s Top 50 Restaurants List, alongside dine by Peter Gordon. With further developments planned, including a new Japanese Robata restaurant MASU to be run by internationally renowned Kiwi chef Nic Watt, 2013 promises to be another exciting year for our Federal Street dining precinct.

Hamilton revenues of $17.6m are up 14% in the period to 17 October FY13. The continued strong performance of our Hamilton property supports our decision to invest further in the Waikato region, including the $35 million, 4.5 star Hamilton Casino Hotel. Our Queenstown and Christchurch operations have also seen positive growth in revenue in YTD FY13. SKYCITY’s focus for 2013 will be to continue to capitalise on our investments made in Auckland, which have transformed our offering to local patrons, tourists and International VIPs. Negotiations with the New Zealand Government about SKYCITY funding, building and operating the New Zealand International Convention Centre are currently on hold while the Auditor-General’s review is completed. The Auditor-General’s report is expected to be released in the near future. SKYCITY remains hopeful negotiations will be concluded successfully. However, we will need to ensure the final deal is right for SKYCITY and its shareholders. The $350m centre, which will attract international-scale conferences that New Zealand currently misses out on, is a major infrastructure project that will deliver significant economic and tourism benefits for the country. This includes an estimated 1000 jobs during the construction period and some 800 jobs once the centre is up and running. It is also estimated the centre will attract 350,000 to 400,000 delegates each year and generate more than $90m a year in economic activity by attracting high-spending conference delegates to New Zealand. Australia Total Australian revenues for YTD FY13 of A$93.8m have increased 6%, with the major investment in our Darwin property’s Lagoon Resort delivering a very pleasing opening performance. This equates to 8% revenue growth when adjusted to New Zealand Dollars. Darwin, after returning to growth in 4Q12, continued to perform strongly in the period to 17 October. Normalised revenues increased 12.4% from A$39.3m to A$44.2m. Again, with a big focus being on accommodating international visitors, we will continue to capitalise on the returns from our investment in the Lagoon Resort and the new ‘Horizon’ Villas and Salons and complete the redevelopment of a new VIP Level 2 Gaming precinct, to significantly enhance our international and interstate visitor experience. Furthermore, we are pleased to announce that Darwin’s EVOO restaurant has recently been named Northern Territory Restaurant of the Year in the Territory’s Gold Plate Awards. Our business in Adelaide is relatively flat in YTD FY13, with normalised revenues of A$49.6m. Progress is being made with the South Australian Government regarding the future taxation and regulatory framework for Adelaide Casino, with both parties working to a timetable to conclude an agreement by 31 December 2012. Subject to being comfortable that an acceptable return on capital can be delivered for shareholders, we anticipate this will facilitate a major investment to transform the Adelaide Casino into a truly world-class integrated entertainment complex. The development will feature a boutique 6-star hotel, expanded gaming including VIP,

signature restaurants and bars, a day spa and a large underground carpark. Such a facility has the potential to deliver significant benefits to South Australia through jobs, tourism opportunities and taxation revenues. Outlook for 2013 Whilst our sense of the Auckland and NZ economy is that it is somewhat flat and the outlook uncertain, we expect our flagship Auckland property to continue to benefit from the capital improvements made, including Federal Street, ‘Horizon’ and ‘Eight’ and that they will continue to deliver growth. Based on the current momentum we are experiencing, we anticipate that Hamilton and our other New Zealand businesses will continue to deliver improved results on last year. In Australia, we see Darwin’s growth underpinning our Australian businesses this financial year, building on continued growth arising from the opening of the Lagoon Resort. YTD total Group International Business turnover is up over 40%, reflecting increasing demand from this growing segment of the market. Based on current market conditions and trading patterns, we expect Normalised Group Net Profit after Tax to in the “$140 millions” for the year ending 30 June 2013. First half results for the 2013 financial year will be available on 13 February, 2013. Note: All numbers in this media release are unaudited For more information please contact: Kelly Armitage Senior Communications Advisor SKYCITY Entertainment Group Phone: +64 9 363 6084 Mobile: +64 27 213 5625 E-mail: kelly.armitage@skycity.co.nz