Update on Independent Review of SkyCity Adelaide

SkyCity Entertainment Group Limited
(SKC.NZX/SKC.ASX)

12 August 2025


Update on Independent Review of SkyCity Adelaide – Suitability confirmed

SkyCity Entertainment Group Limited (SkyCity) acknowledges the final report (Report) of The Honourable Brian Martin AO KC has been released publicly today by the Commissioner for Liquor and Gambling in South Australia (Commissioner).

The Report sets out the findings of the Independent Review into the suitability of SkyCity Adelaide Pty Limited (SkyCity Adelaide) to continue to hold the SkyCity Adelaide casino licence and the suitability of SkyCity to continue to be a close associate of SkyCity Adelaide.

The Commissioner has advised that the Report is available at: https://www.agd.sa.gov.au/law-and-justice/investigation

The Report concludes that:

• SkyCity Adelaide is suitable to hold the SkyCity Adelaide casino licence; and

• SkyCity is suitable to be a close associate of SkyCity Adelaide.

Notwithstanding the findings of suitability, SkyCity Adelaide and SkyCity accept that the Report identifies shortcomings, including in governance, AML/CFT and host responsibility. The Commissioner has advised that he is considering the findings of the Report as well as ongoing work by Consumer and Business Services to determine what enforcement action he may decide to take. A media release from the Commissioner is available at Independent casino review released | Consumer and Business Services

SkyCity Adelaide and SkyCity will continue to work cooperatively with the Commissioner and Consumer and Business Services (CBS) to implement the Building a Better Business Programme (B3). B3 is a comprehensive, multi-year programme of work developed by SkyCity Adelaide in conjunction with Kroll Australia Pty Limited (the independent monitor of SkyCity Adelaide), and approved by the Commissioner on 11 September 2024. B3 focuses on AML/CFT capability, gambling related harm minimisation and cultural transformation and is expected to be completed by 30 June 2027.

SkyCity Chief Executive Officer, Jason Walbridge, said: “We fully accept and acknowledge the findings of the Report that we did not measure up to the standards required, and we apologise for those failings.

“We further acknowledge Mr Martin’s findings and the Commissioner’s comments that we still have work to do. We remain committed to our B3 programme and constructive engagement with all our regulators.

“We have made significant enhancements in terms of leadership, resourcing and systems, including a commitment to invest ~$60 million over three years to transform our culture, to uplift our financial crime and host responsibility practices. Our team has worked hard to raise our standards, better meet our obligations and improve how we look after our customers”.


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
Anna Shipley
Chief Corporate Affairs Officer
Mobile: +64 27 521 0706
E-mail: [email protected]

This announcement has been authorised for release by:
Phil Leightley, General Counsel & Company Secretary

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