OPENING OF NZ$50 MILLION SHARE PURCHASE PLAN

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES MARKET RELEASE SkyCity Entertainment Group Limited (SKC.NZX/SKC.AX) 22 June 2020 Opening of NZ$50 Million Share Purchase Plan SkyCity Entertainment Group Limited (NZX/ASX:SKC) ("SkyCity") is pleased to announce the opening of its fully underwritten NZ$50 million share purchase plan ("SPP") today. The SPP is part of SkyCity's NZ$230 million equity raising announced on 17 June 2020, pursuant to which SkyCity also undertook a fully underwritten NZ$180 million placement of new shares to institutional and other select investors in New Zealand, Australia and other select jurisdictions ("Placement"). SkyCity announced the successful completion of the Placement on 18 June 2020. The Placement of 72 million new, fully paid ordinary shares was fully subscribed at the fixed price of NZ$2.50 per share, which represented a discount of 6.4% to the last close price of NZ$2.67 per share on 16 June 2020 and a discount of 10.4% to the 5-day VWAP of NZ$2.79 (to 16 June 2020). Under the SPP, eligible existing SkyCity shareholders with a registered address in New Zealand or Australia can each subscribe for up to NZ$50,000/A$47,000 worth of new SkyCity shares. The offer price of these shares will be the lower of the Placement offer price of NZ$2.50 per share and a 2.5% discount to the five-day VWAP of SkyCity shares traded on the NZX during the last five days of the SPP offer period. The new shares to be issued under the SPP will rank equally in all respects with SkyCity's existing ordinary shares. The SPP offer size of NZ$50 million (with no oversubscriptions) has been set to match the proportion of SkyCity's shares owned by non-institutional investors. As at 16 June 2020, 21% of SkyCity's shares were owned by non-institutional shareholders and the size of the SPP represents 22% of the total equity raising of NZ$230 million. As a result, SkyCity considers that the SPP will fairly cater for SkyCity's non-institutional shareholders, enabling them to participate and potentially increase their relative percentage holdings in SkyCity. If scaling of the SPP is required, it will be done with reference to shareholders' existing shareholdings at the record date of 16 June 2020 and otherwise at SkyCity's discretion. An SPP offer booklet, together with an application form, will be sent or made available to eligible New Zealand and Australian resident retail shareholders today and will also be available to those eligible shareholders at www.shareoffer.co.nz/skycity from today. All eligible shareholders are encouraged to visit that website and apply online before the closing date on 3 July 2020. Given the present uncertainties with respect to postal deliveries, eligible shareholders wishing to apply for new shares under the SPP are encouraged to do so online. Key dates relating to the SPP are set out in the Appendix to this announcement. A copy of the SPP offer booklet also accompanies this announcement. ENDS For more information, please contact: Investors and Analysts - Ben Kay General Manager, Corporate Development & Investor Relations DDI: +64 9 363 6067 E-mail: ben.kay@skycity.co.nz Media - Liza McNally Chief Marketing Officer DDI: + 64 9 363 7137 Mobile +64 2194 4989 E-mail: liza.mcnally@skycity.co.nz Appendix - Key Dates for Share Purchase Plan (1) Share Purchase Plan SPP Record Date - 16 June 2020 SPP Opens - 22 June 2020 SPP Closes - 3 July 2020 Settlement on the ASX - 9 July 2020 Settlement on the NZX - 9 July 2020 Allotment of shares on NZX and ASX - 9 July 2020 Commencement of trading of shares on the NZX - 9 July 2020 Commencement of trading of shares on the ASX - 10 July 2020 Not for distribution or release in the United States This announcement is not financial product advice and has not taken into account your objectives, financial situation or needs. This announcement has been prepared for release in New Zealand and Australia. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or in any jurisdiction in which such an offer would be illegal. The offer and sale of the shares referred to in this announcement have not been, and will not be, registered under the United States Securities Act of 1933 (the U.S. Securities Act), or the securities laws of any state or other jurisdiction of the United States. Accordingly, the new shares to be offered and sold in the Placement may not be offered or sold, directly or indirectly, to persons in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The new shares to be offered and sold in the SPP may not be offered or sold, directly or indirectly, to any person in the United States or any person acting for the account or benefit of a person in the United States. (1) The timetable presented is indicative only and subject to change without notice (subject to applicable laws and the NZX Listing Rules and ASX Listing Rules). All dates and times are New Zealand times (unless stated otherwise). End CA:00354982 For:SKC Type:OFFER Time:2020-06-22 08:31:01