SkyCity sells equity investment in Gaming Innovation Group

MARKET RELEASE
SkyCity Entertainment Group Limited (SKC.NZX/SKC.ASX)
25 June 2024

SkyCity sells equity investment in Gaming Innovation Group Inc

SkyCity Entertainment Group Limited (SkyCity) advises that it has entered into an unconditional agreement to sell its entire shareholding of around 10% in Gaming Innovation Group Inc (GiG), a European-based online gaming platform provider and media services operator. The net proceeds of the sale are approximately NZ$55 million after brokerage and legal costs.

SkyCity intends to use the proceeds of the sale to pay down debt as part of its ongoing prudent approach to capital management.

SkyCity continues to have a valuable relationship with GiG through its involvement with the SkyCity Online Casino (operated from Malta). However, SkyCity has decided to divest its shareholding in GiG as it is non-core to its ongoing operations, and is now not considered strategically necessary for SkyCity.

SkyCity acquired its shareholding in GiG in April 2022 for €25 million (approximately NZ$40 million at that time).

Ends

For more information, please contact:
Investors and Analysts - Craig Brown
Head of Investor Relations & Corporate Development
Mobile: +64 27 470 6802
E-mail: [email protected]

Media - Graeme Muir
GM Communications
Phone: +64 214 26 844
Email: [email protected]


This announcement has been authorised for release by:
Jo Wong, General Counsel & Company Secretary

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