Skycity Entertainment Group Limited · NZX:SKC
Skycity Entertainment — FY2025 Earnings Presentation
32 slides from Skycity Entertainment's earnings presentation, Aug 21, 2025
Slide 1: FY25 Results Investor Presentation
slive ie 4 ENTERTAINMENT GROUP ESULIS 2025RRESULTS 2025 es FY25 FY25 INVESTOR INVESTOR PRESENTATION PRESENTATION || 21 21 AUGUST AUGUST 2025 2025 ation THE THE ULTIMATE ULTIMATE EXPERIENCE EXPERIENCE IN IN ENTERTAINMENT ENTERTAINMENT
Slide 2: Important Notice
IMPORTANT NOTICE • All information included in this presentation is provided as at 21 August 2025. This disclaimer applies to this document and the verbal or written comments of any person presenting it. • The information in this presentation has been prepared by SkyCity with due care and attention,
Slide 3: Contents
CONTENTS GROUP FINANCIAL OPERATING OVERVIEW RESULTS PERFORMANCE OUTLOOK APPENDICES JASON WALBRIDGE PETER FREDRICSON CALLUM MALLETT JASON WALBRIDGE CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF OPERATING OFFICER CHIEF EXECUTIVE OFFICER page 3 page 7 page 12 page 19 page 22 2 SKYCITY FY25 | RE
Slide 4: Overview
Slivecity ENTERTAINMENT GROUP OVERVIEW OVERVIEW JASON WALBRIDGE JASON WALBRIDGE || CHIEF CHIEF EXECUTIVE EXECUTIVE OFFICER OFFICER
Slide 5: FY25 Results Overview
FY25 RESULTS OVERVIEW REPORTED/UNDERLYING 1 REPORTED REPORTED REPORTED REVENUE EBITDA NPAT EARNINGS PER SHARE $825.2m (11.1%) Reported revenue pcp $216.1m 56.4% pcp $29.2m nm pcp 3.9cps nm pcp (5.2%) Underlying revenue pcp UNDERLYING 1 UNDERLYING 1 UNDERLYING 1 EBITDA NPAT EARNINGS PER SHARE $233.7m
Slide 6: FY25 Year in Review
FY25 YEAR IN REVIEW Challenging trading conditions through period of elevated investment • FY25 result impacted by: ‒ Delayed economic recovery in New Zealand ‒ Lower visitation and spend by VIP customers in Adelaide ‒ Elevated costs related to upgrading regulatory systems and B3 programme ‒ Pre-ope
Slide 7: Visitation and Spend
VISITATION AND SPEND FY25 FY24 Group Visitation 10.6m 10.2m Group Underlying EBITDA $233.7m $277.8m Group Underlying EBITDA/Visitation ~$22 ~$27 Difference $5/visit • Group visitation includes all visits to gaming, food and beverage, hotels and other entertainment activities across our properties •
Slide 8: Group Financial Results
Slveity ENTERTAINMENT GROUP 3 d P2 GROUP GROUP FINANCIAL FINANCIAL AN yon. RESULTS RESULTS : Sa kes 22 PETER PETER FREDRICSON FREDRICSON || CHIEF CHIEF FINANCIAL FINANCIAL OFFICER OFFICER
Slide 9: FY25 Group Results
FY25 GROUP RESULTS $M FY25 FY24 1 % Change Total revenue impacted by a reduction in Gaming Revenue due to: Total Underlying Revenue 2 825.2 870.5 (5.2) • a challenging economic environment in New Zealand Auckland 209.6 237.0 (11.6) • increased VIP customer churn in Adelaide in the second half Hamilt
Slide 10: Balance Sheet
BALANCE SHEET AS AT 30 JUNE 2025 2024 Total net debt 1 $756.8m $663.1m Available liquidity (cash and undrawn facilities) $286.5m $303.0m Average borrowing cost 5.84% 5.59% Average debt maturity (yrs) 3.8 yrs 2.4yrs Hedged debt % 84% 61% Net debt to Covenant EBITDA 2 3.1x 2.5x Net debt to Underlying
Slide 11: Pro Forma Net Debt Bridge
PRO FORMA NET DEBT BRIDGE Increase in net debt from FY23 driven by legacy non-operating capital requirements $311m of non-operating one-off charges 3.1x ND / EBITDA ~$27m $757m ~$83m • Between FY23 and FY25 existing debt levels ~$204m impacted by: 1.5x ND / EBITDA ‒ Carpark concession repurchase: ~$
Slide 12: Pro Forma Operating Cashflow
PRO FORMA OPERATING CASHFLOW Operating cash flow impacted by non-operating one-off charges • Underlying cash generation has been impacted by weak NZ economic conditions and elevated operating costs due to increased regulatory / compliance costs • Strong cash generation from underlying operations of
Slide 13: Operating Performance
Slivecity ENTERTAINMENT GROUP OPERATING OPERATING PERFORMANCE PERFORMANCE CALLUM CALLUM MALLETT MALLETT || CHIEF CHIEF OPERATING OPERATING OFFICER OFFICER it IH
Slide 14: Auckland
AUCKLAND Managing operations in a challenging economic environment FY25 FY24 • Visitation marginally lower vs FY24 - given 1H24 visitation benefiting Gaming from FIFA World Cup Visitation 2.0m 2.1m (4.5%) • International tourism numbers to New Zealand impacted by lower cruise ship EGM WPUPD $427 $43
Slide 15: NZICC
NZICC Opening February 2026 32,500SQM OF FLOOR SPACE CAN ACCOMMODATE • Major visitation catalyst for SkyCity Auckland – estimated 500k CAPACITY FOR UP TO visitations p.a. once operating at full capacity CONVENTIONS UP TO 400 • Installations, commissioning and testing of key systems and operational 3
Slide 16: Hamilton and Queenstown
HAMILTON AND QUEENSTOWN Performance in line with expectations FY25 FY24 • Combined site visitation improved with increased tourism in Queenstown Gaming partially offset by lower visitation in Hamilton Visitation 430k 420k 1.2% • Customer spend levels lower due to the difficult operating environment,
Slide 17: Carded Play
CARDED PLAY Successful launch across NZ in July 2025 • Significantly assists with host responsibility gaming measures • Enhances risk management • Creates operational efficiency • Meaningful customer insights • Customers can continue to use cash, QUICK Pay or TITO tickets when playing • Confirm prev
Slide 18: Adelaide
ADELAIDE Focus on implementation of B3 FY25 FY24 Gaming Gaming • Gaming visitation flat in Q4 with enhanced AML/CFT and host Visitation 1.2m 1.1m 5.0% responsibility initiatives impacting customer numbers plus lower levels of EGM WPUPD $255 $274 (7.0%) interstate visitation Table Games WPOH $450 $49
Slide 19: Online
ONLINE Continuing to invest ahead of regulation • Ongoing refinement of player acquisition and retention strategy • SkyCity heavily constrained by current regulatory environment restrictions which are disregarded by some competitors • Unique customers per month and bets per customer per month have s
Slide 20: Outlook
Sliveciry ENTERTAINMENT GROUP OUTLOOK eo) Ea tele) 4 JASON WALBRIDGE JASON WALBRIDGE || CHIEF CHIEF EXECUTIVE EXECUTIVE OFFICER OFFICER
Slide 21: Outlook
OUTLOOK Challenging trading conditions through period of ongoing investment in NZICC pre-opening and Online Gaming Early FY26 trading substantially in line with expectations • Carded play impact in-line with our guidance • No change observed in New Zealand consumer discretionary spending FY26 Underl
Slide 22: Outlook (cont)
OUTLOOK (CONT) Anticipated FY27 recovery driven by NZICC/Online Gaming moving from investment to operating, and increased spend as NZ economy improves Earnings expected to improve in FY27 with: • NZICC expected to be breakeven in FY27 on a stand-alone basis (prior to contribution to broader precinct
Slide 23: Appendix
Sliveciry ENTERTAINMENT GROUP APPENDIX PAN od md = | BLDG
Slide 24: Underlying Operating Results by Segment
UNDERLYING OPERATING RESULTS BY SEGMENT HAMILTON AND AUCKLAND QUEENSTOWN ADELAIDE ONLINE CORPORATE TOTAL ADELAIDE (A$) $M FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 Gaming machines 233.9 247.7 50.7 52.3 95.9 97.9 0.0 0.0 0.0 0.0 380.5 397.9 87.7 90.4 Table games 114.7 127.
Slide 25: Operating Profit to Statutory Result Reconciliation
OPERATING PROFIT TO STATUTORY RESULT RECONCILIATION FY25 FY24 (RESTATED) $M REVENUE EBITDA EBIT NPAT REVENUE EBITDA EBIT NPAT Reported Results 825.2 216.1 121.9 29.2 928.5 138.2 46.2 (143.3) Remove impact of the Casino Duty dispute — — — 27.3 — — — — Remove impact of Adelaide B3 costs — 17.6 17.6 17
Slide 26: People
PEOPLE Employ over 4,500 staff PARTICIPATION RATE 80% • MyVoice employment engagement survey completed in July 2025, key findings: ‒ 80% participation rate ‒ 80% employee engagement, our highest level to date ‒ 84% proud to work at SkyCity ‒ 80% would recommend SkyCity as a great place to work • The
Slide 27: Community
COMMUNITY • $3.1m contributed via the SkyCity Community Trusts • Over 5,400 grants totalling greater than $81m awarded since the first community trust was established in 1996 • Celebrated 25 years partnering with Variety – the Children’s Charity with over $6m raised during this time, including $180,
Slide 28: Group Debt and Liquidity
GROUP DEBT AND LIQUIDITY GROUP DEBT FACILITIES LIQUIDITY PROFILE TOTAL FACILITY AMOUNT FACILITY DRAWN AVAILABLE MATURITY AMOUNT AMOUNT DRAWN UNDRAWN LIMIT AMOUNT LIQUIDITY TYPE DATE $M NZ$M NZ$M NZ$M $M $M $M USPP Mar 28 65.4 AUD 70.4 70.4 — Facilities due within 12 months 0.0 USPP Feb 30 75.0 US 12
Slide 29: Facilities & Covenants
FACILITIES & COVENANTS Covenant EBITDA Reconciliation Net Debt Calculation $M FY25 ADJUSTMENT AS AT 30 JUNE 2025 Reported EBITDA 216.1 TOTAL AMOUNT MATURITY AMOUNT DRAWN AVAILABLE (+) B3 transformation costs 17.6 Add back of B3 transformation costs associated TYPE DATE $M NZ$M NZ$M with the remediat
Slide 30: SkyCity Overview
SKYCITY OVERVIEW AUCKLAND HAMILTON AND QUEENSTOWN ADELAIDE ONLINE Operated since 1996 2002 & 2000 2000 2019 Gaming licence expiry 2048 2027 Hamilton 2085 (exclusive to 30 June 2035) NZ market regulating in late 2026 2025 Queenstown 1 Pursuing Malta licence Gaming licences 1,877 EGMs 3 425 EGMs 3 1,0
Slide 31: Important Information
IMPORTANT INFORMATION RECONCILIATION OF GROUP RESULTS • Average NZ$ vs. A$ cross-rate for GLOSSARY Guide to understanding the basis of underlying earnings FY25 = 0.9200 and FY24 = 0.9232 AML/CFT Anti-money laundering and countering financing The Group’s objective in preparing underlying financial in
Slide 32: Thank You
SEWN city @ ENTERTAINMENT GROUP THANK THANK YOU FY25 FY25 INVESTOR INVESTOR PRESENTATION PRESENTATION || 21 21 AUGUST AUGUST 2025 2025 CONTACT CONTACT Craig Craig Brown Brown Head Head of of Investor Investor Relations Relations Craig.Brown@skycity.co.nz (Olg-Tlen=1KeUal@lsLaveln Aceh ay
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