Skycity Entertainment Group Limited · NZX:SKC
Skycity Entertainment — FY2026 Earnings Presentation
32 slides from Skycity Entertainment's earnings presentation, Aug 20, 2026
Slide 1: 2026 Results Investor Presentation
2026 RESULTS INVESTOR PRESENTATION | 20 AUGUST 202 6 THE ULTIMATE EXPERIENCE IN ENTERTAINMENT
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER • All information included in this presentation is provided as at 20 August 202 6 . 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 ca
Slide 3: Contents
CONTENTS OVERVIEW FINANCIAL OPERATING OUTLOOK APPENDICES RESULTS PERFORMANCE JASON WALBRIDGE BLAIR WOODBURY CALLUM MALLETT JASON WALBRIDGE CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF OPERATING OFFICER CHIEF EXECUTIVE OFFICER ___________________________ ___________________________ _________
Slide 4: Overview
OVERVIEW JASON WALBRIDGE | CHIEF EXECUTIVE OFFICER
Slide 5: FY26 Results Overview
FY26 RESULTS OVERVIEW Underlying EBITDA of $181.6m – within revised guidance provided in May UNDERLYING 1 UNDERLYING 1 UNDERLYING 1 EBITDA CASHFLOW FROM OPERATIONS REVENUE NPAT $ 822.7 m $ 181.6m $ 38.0 m $121.7m (0.3%) pcp (22.3 %) pcp (46.9 %) pcp 169.2% pcp REPORTED REVENUE REPORTED EBITDA REPORT
Slide 6: FY26 Review
FY26 REVIEW Progressing commitments given at time of the equity raise FY26 HIGHLIGHTS KEY FY27 PRIORITIES • Underlying EBITDA of $181.6m consistent with May guidance – • Complete asset sales and reset balance sheet – expect Net debt / Previous guidance revised in May primarily due to the Middle East
Slide 7: Asset Monetisation
ASSET MONETISATION Aggregate gross proceeds expected to be $275 - $300m 1 • $275 –$300m aggregate gross proceeds 4 with receipt expected in FY27 2 • 99 Albert Street and Victoria Street sale unconditional at $74.5m to a Mainland Capital / Russell Property Group joint venture; settlement due Septembe
Slide 8: Cost Out Programme
COST OUT PROGRAMME Targeting realised cost benefits of $30m in FY27 growing to total benefits of $70m in FY28 • Group -wide reset of the operating model to reflect future direction with all areas of land -based operations in scope • Alvarez & Marsal engaged since May 2026 • Three areas of focus: • O
Slide 9: Adelaide
ADELAIDE CBS agreement reached – strategic review to commence • Non -binding Heads of Agreement reached with the Commissioner for Liquor and Gambling; binding tripartite settlement deed to be finalised • Total fine of A$21m payable in three equal instalments over 2 years • CBS agreement clarifies op
Slide 10: Online
ONLINE Staged, disciplined approach to market entry, opening expected June 2027 • Estimated market > $1 billion, robust and growing • Licence auction in September 2026 • Licence winners then submit detailed business plans in October 2026 • Up to 15 licences available to operate – three year term wit
Slide 11: NZICC
NZICC Opened on time, within the $750m envelope, ~100k visitations in FY26 • Opened February 2026; 141 events and ~100,000 visitations in FY26, with total development cost within previous guidance of approximately $750m • Customer reviews positive - high NPS with events re -booking • FY27 pipeline o
Slide 12: Financial Results
FINANCIAL RESULTS BLAIR WOODBURY | CHIEF FINANCIAL OFFICER
Slide 13: FY26 Financial Results
FY26 FINANCIAL RESULTS Underlying EBITDA of $181.6m – within the revised guidance of $180 - $190m $M FY26 FY25 % Change REVENUE Total Underlying Revenue 1 822.7 825.2 (0.3%) • Underlying revenue was broadly flat at $822.7m, down 0.3% Total Expenses (641.1) (591.6) (8.4%) • Gaming revenue declined 5.
Slide 14: FY26 Significant Accounting Items
FY26 SIGNIFICANT ACCOUNTING ITEMS ITEM $m EXPLANATION Derecognition of Australian tax losses (32.5) Deferred tax asset on Adelaide losses (A$28.1m) no longer recognised, given the outlook for that business Impairment of SkyCity Adelaide (52.2) Carrying value written down by A$42.9m to reflect lower
Slide 15: Balance Sheet and Capital Management
BALANCE SHEET AND CAPITAL MANAGEMENT Metrics in line with expectations, asset monetisation benefits to be realised in FY27 AS AT 30 JUNE FY26 FY25 • Covenant leverage ratio of 3.1x – marginally above the ~3.0x indicated Total net debt 1 in August 2025, reflecting lower 4Q earnings $590.7m $756.8m •
Slide 16: Sources and Uses of Funds
SOURCES AND USES OF FUNDS Plan to grow positive cash flow focused on core business performance $m FY26 FY25 % Opening cash and cash equivalents 51.5 60.5 • FY26 marks the end of the significant NZICC investment cycle with $32.9m invested in FY26, with only final retention payments expected in Cash f
Slide 17: Capital Expenditure
CAPITAL EXPENDITURE FY26 capex of $95.4m – below guidance, FY27 range of $80 -$100m (excluding online licence ) CAPITAL EXPENDITURE $m 149.0 • FY26 capital expenditure $95.4m, below guidance of $100 - $110m: BAU 138.4 capex: $62.5m, NZICC: $32.9m (includes retentions) • FY27 capex expected at $80 -$
Slide 18: Operating Performance
OPERATING PERFORMANCE CALLUM MALLETT | CHIEF OPERATING OFFICER
Slide 19: Auckland
AUCKLAND Precinct visitation and earnings reflect carded play and the 4Q fuel impact FY26 FY25 Gaming • Sitewide visitation broadly flat first 3Q’s, lower in 4Q: gaming visitation is Visitation 1 1.7m 2.0m (20.3%) now measured on the carded -play basis and is not directly comparable with EGM WPU
Slide 20: Hamilton and Queenstown
HAMILTON AND QUEENSTOWN Resilient performance through carded play implementation and 4Q earnings impact FY26 FY25 • Carded play impact on revenue better than expected across both Gaming Visitation 1 413k 427k (3.3%) properties; minimal impact from the Middle East conflict in 4Q EGM WPUPD $370 $376 (
Slide 21: Adelaide
ADELAIDE Stable revenue, cost reset benefit in 2H A$ FY26 FY25 • Revenue (A$) flat year -on -year: main -floor EGM growth offset by lower Gaming Visitation 1.1m 1.2m (4.3%) premium play and hold; VIP customer churn has stabilised EGM WPUPD $273 $255 7.1% • June market share was 8.3% and compares to
Slide 22: Outlook
OUTLOOK JASON WALBRIDGE | CHIEF EXECUTIVE OFFICER
Slide 23: FY27 Outlook
FY27 OUTLOOK Cost savings mitigating lower consumer discretionary spend • The 4Q26 EBITDA run -rate has continued in early 1Q27 trading, cost savings of $30m will be realised in FY27, partially offset by investment in online • One -off costs from cost out programme will likely impact Reported earnin
Slide 24: Appendix
ENTERTAINMENT GROUP APPENDIX
Slide 25: Online
ONLINE Specific details contained within the Online Casino Gambling Act and regulations • Online Casino Gambling Act passed into law with effect from 1 May 2026 and regulations supporting the Act have been released • Licensing process underway: • Expressions of Interest to participate in the licensi
Slide 26: Underlying Operating Results by Segment
UNDERLYING OPERATING RESULTS BY SEGMENT HAMILTON AND AUCKLAND ADELAIDE ONLINE CORPORATE TOTAL ADELAIDE (A$) QUEENSTOWN $M FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 Gaming machines 214.0 233.9 49.8 50.7 103.0 95.9 0.0 0.0 0.0 0.0 366.8 380.5 88.5 87.7 Table games 104.4 114
Slide 27: Operating Profit to Statutory Result Reconciliation
OPERATING PROFIT TO STATUTORY RESULT RECONCILIATION FY26 FY25 $M REVENUE EBITDA EBIT NPAT REVENUE EBITDA EBIT NPAT Reported Results 878.9 120.5 15.4 18.2 825.2 216.1 121.9 29.2 Remove impact of Adelaide B3 costs — 23.5 23.5 23.5 — 17.6 17.6 17.6 Remove the impact of Group simplificat
Slide 28: Group Debt and Liquidity
GROUP DEBT AND LIQUIDITY GROUP DEBT FACILITIES JUNE 2026 LIQUIDITY PROFILE (JUNE 2026) MATURITY TOTAL FACILITY AMOUNT UNDRAWN FACILITY DRAWN AVAILABLE AMOUNT AMOUNT DRAWN LIMIT AMOUNT LIQUIDITY $M $M $M TYPE DATE $M NZ$M NZ$M NZ$M USPP Feb 30 75.0 US 129.0 129.0 — Facilities due within 12 months 1
Slide 29: EBITDA Reconciliation
EBITDA RECONCILIATION JUNE 26 ADJUSTMENT Reported EBITDA 120.5 Add -back of B3 transformation costs associated with the remediation program at (+) B3 transformation costs 23.5 SkyCity Adelaide Release of cumulative FX translation differences on disposal and deregistration of (-) Group Simplification
Slide 30: SkyCity Overview
SKYCITY OVERVIEW HAMILTON AND AUCKLAND ADELAIDE ONLINE (MALTA) QUEENSTOWN Operated since 1996 2002 & 2000 2000 2019 2027 Hamilton (renewal application 2048 2085 (exclusive to 30 June 2035) NZ market regulating in 2027 Gaming licence expiry submitted) 2040 Queenstown Pursuing Malta licence 1,877 EGMs
Slide 31: Important Information
IMPORTANT INFORMATION RECONCILIATION OF GROUP RESULTS Guide to understanding the basis of underlying earnings • Average NZ$ vs. A$ cross -rate GLOSSARY for FY26 = 0.86023 and FY25 = The Group’s objective in preparing underlying financial information is to AML/CFT Anti -money laundering and 0.91447
Slide 32: Thank You
THANK YOU CONTACT Craig Brown Head of Investor Relations Craig.Brown@skycity.co.nz THE ULTIMATE EXPERIENCE IN ENTERTAINMENT
SkyCity Entertainment Group — FY2026 Earnings Presentation on 6ix