SKC - Asset Monetisation Programme Update

SkyCity Entertainment Group Limited (SkyCity) is pleased to advise that the sale of the 99 Albert Street office building, together with investment properties on Victoria Street (the Commercial Properties) is now unconditional. Mainland Capital, a Christchurch-based commercial property funds manager will acquire the Commercial Properties for $74,500,000 in a joint venture with Russell Property Group. The expected settlement date is 1 September 2026.

SkyCity Chief Executive Officer Jason Walbridge said, "We are pleased that the sale of the Commercial Properties has progressed to an unconditional status. Mainland Capital shares our commitment to enhancing the precinct, and we look forward to working with them as valued neighbours. SkyCity will use the capital proceeds to repay debt and provide SkyCity with greater financial flexibility to navigate current market conditions."

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