As a trans-Tasman leader in providing fun and entertainment, becoming a gold sponsor of the New Zealand International Arts Festival in New Zealand’s capital city, Wellington, was a natural fit for SKYCITY.

The sponsorship builds on strong linkages that SKYCITY already has in Wellington, including (through Village SKYCITY) the operational management of the historic Embassy Theatre and the planned nine-screen multiplex due to open at Westfield’s Queensgate Mall in Lower Hutt in April 2006.

SKYCITY Managing Director Evan Davies says SKYCITY is proud to support the International Arts Festival. “It’s a highlight in

both the Wellington and the national performing arts calendar and we’re delighted to be able to make a contribution to such a major and successful cultural event,” he says.

Festival Chair Fran Wilde welcomed SKYCITY to the group of sponsors. “SKYCITY’s reputation for providing a total entertainment experience is a good fit with what is New Zealand’s largest cultural event.”

The Festival runs over three weeks from 24 February to 19 March and is jam-packed with exciting theatre, dance and musical acts. For more information on the New Zealand International Arts Festival, visit www.nzfestival.telecom.co.nz

Heart in VoH, new Caledonia, FranCe© / S20º57’ e164º41’ / Yann artHuS-Bertrand / From tHe ‘eartH From aBoVe’ exHiBition / www.YannartHuSBertrand.org under tHe patronage oF uneSCo and witH tHe generouS Support oF FujiFilm, air FranCe, euroCopter and tHe inStitut geograpHique national-FranCe.

SKYCitY SupportSart in tHe Capital

SKYCitY Shareholder newsletter - issue 04

december 2005

up w

ith t

he

plaYupdate

SKYCitY StarligHt SYmpHonY

In 2006, SKYCITY will once again deliver one of New Zealand’s largest free community performance events to Auckland.

Supported by the SKYCITY Community Trust, the SKYCITY Starlight Symphony will be held in the Auckland Domain on Saturday 25 February and promises a magical night of classical, jazz, operatic and contemporary music under the stars. Powerful bass-baritone Jonathan Lemalu and five-piece Kiwi pop group Goldenhorse are already confirmed to perform.

An estimated 200,000 people turned out for last year’s event which featured young opera singers, the Auckland Philharmonia, the SKYCITY Massed Choir and rock classics sung by Kiwi celebrities.

If you’re planning to be in Auckland on Saturday 25 February, make sure you come along to the SKYCITY Starlight Symphony for a night of exciting entertainment.

inCreaSing tHe FoCuS on Harm minimiSation

A recent appointment highlights the importance SKYCITY places on host responsibility. Debbie Edwards has joined SKYCITY as Harm Minimisation Manager, helping to ensure the business maintains its focus on new and significant harm minimisation research, policy and best practice.

Formerly Project Leader for Problem Gambling at the Ministry of Health, Debbie will work closely with government agencies and researchers and complement SKYCITY’s host responsibility team’s ongoing liaison with communities, public health and treatment services.

SKYCITY’s General Manager of Public Policy, David Kennedy, highlights SKYCITY’s important role to play in minimising harm. “Debbie’s appointment will assist SKYCITY in understanding leading-edge international research and best practice on minimising gambling harm. We can then translate that knowledge into how we relate to our customers,” he says.

SKYCitY at tHe raCeS

SKYCITY’s support of racing communities will continue in 2006 in Hamilton and Adelaide.

SKYCITY Hamilton’s General Manager David Christian is delighted that SKYCITY will continue its association with the SKYCITY Hamilton Cup. “Last year was the inaugural SKYCITY Hamilton Cup,” he says.

“It’s an exciting day out for local and visiting racing fans and a wonderful opportunity for SKYCITY to show its support for the local community.”

SKYCITY Adelaide is also a huge supporter of local racing and recently announced that they will be the major sponsor of next year’s prestigious Adelaide Cup event, making them one of the most pre-eminent sponsors of horse racing in South Australia.

This announcement follows SKYCITY’s sponsorship of the Adelaide Cup carnival for the first time this year. Next year’s Cup is expected to attract top horses from throughout Australasia and tens of thousands of racing supporters.

in a few months sKYciTY will celebrate its 10th birthday. it’s an appropriate time to take stock and reflect on the journey we have taken to become a diversified trans-Tasman gaming and entertainment company.

By focusing on creating a broad entertainment experience for a wide range of customers, SKYCITY has come a long way from the one-site company we were when we opened our Auckland business in 1996.

With a presence in six locations throughout New Zealand and Australia, along with over 100 cinema screens in New Zealand and Fiji, SKYCITY has a track record of solid growth and strong financial performance.

Although smoking bans impacted on our 2005 revenue, operating earnings for the Group increased by 10% following the acquisition of SKYCITY Darwin, a 41% shareholding in Christchurch Casino, and increased ownership in SKYCITY Hamilton and SKYCITY Leisure.

During the past year we have continued to add to our portfolio by improving existing assets and introducing new facilities, enhancing our ability to provide an attractive and wide-ranging entertainment and leisure experience.

During the first six months of this year we launched SKYCITY Grand Hotel, dine by Peter Gordon, and East Day Spa in Auckland. In July, 20,000 Lions’ fans poured into town and SKYCITY Grand Hotel was Auckland’s highest revenue-producing hotel during that period. We look forward with interest to the 2011 Rugby World Cup when New Zealand accommodation and entertainment outlets will host around 60,000 fans.

Consistent with our focus on continually enhancing customer experiences, in 2005 we completed upgrades at SKYCITY Adelaide, SKYCITY Darwin and SKYCITY Queenstown. At SKYCITY Hamilton we increased our shareholding to 100% and complemented this with the purchase of the surrounding Riverside Entertainment Centre.

In October we announced our interest in the acquisition of Taverner Hotel Group. While Taverner presented an exciting opportunity for SKYCITY, we had a clear idea of what price we would pay which would represent good value for our shareholders. Our priority continues to be getting the most out of our existing businesses. However, we will always keep our eyes open for opportunities where we can add value to the acquisition and extract value for shareholders, but at the right price.

At the end of October we held our annual meeting at the SKYCITY Auckland Convention Centre. Over 1,100 people attended and I enjoyed the opportunity to meet with some of you after the meeting. I would like to encourage more of your feedback and questions, so please make contact through an email address created especially for shareholders: upwiththeplay@skycity.co.nz

We’re working on a number of special events and offers to help us celebrate SKYCITY’s 10th year and I’m delighted to start this off by extending to you a special offer from each SKYCITY property in this issue of Up with the Play. If you would like to be kept updated by email with offers and activities throughout the year, please register your interest in the Investor Centre on SKYCITY’s website: www.skycity.co.nz

I wish you all a safe and happy Christmas and New Year with your friends and families.

Evan Davies Managing Director

inDulge in a night of luxury at skycity granD hotel

$185+ gSt

heaD north for a free Dessert

FreeBuy a main course at SKYCitY adelaide’s north restaurant and receive a delicious dessert for Free. Contemporary and stylish, north brings together the very best of South australia’s wine and produce to create an innovative and memorable dining experience in a relaxed, informal setting.

have a relaxing getaway at skycity Darwin

Spectacularly set amongst tropical beachside gardens, SKYCitY darwin is the perfect place for a relaxing luxury escape. treat yourself with these fantastic superior and Vip room rates and enjoy SKYCitY’s award-winning service and beautiful setting.

a$185

Double your Money at skycity haMilton

place a $5 bet at SKYCitY Hamilton and use this matchplay voucher to turn it into a $10 bet.

douBle Your moneY

Double your Money at skycity Queenstown casino

two Movie tickets for the price of one

there has never been a better time to go to the movies. Visit a Village SKYCitY cinema before 30 may 2006 and take a friend for free.

a meSSage

FromeVan daVieS

66% discount off standard rack rate for a luxury room

auckland’s SKYCitY grand Hotel is an oasis of luxury in the heart of a vibrant city.

2 For 1

place a $5 bet at SKYCitY queenstown Casino and use this matchplay voucher to turn it into a $10 bet.

douBle Your moneY

As a trans-Tasman leader in providing fun and entertainment, becoming a gold sponsor of the New Zealand International Arts Festival in New Zealand’s capital city, Wellington, was a natural fit for SKYCITY.

The sponsorship builds on strong linkages that SKYCITY already has in Wellington, including (through Village SKYCITY) the operational management of the historic Embassy Theatre and the planned nine-screen multiplex due to open at Westfield’s Queensgate Mall in Lower Hutt in April 2006.

SKYCITY Managing Director Evan Davies says SKYCITY is proud to support the International Arts Festival. “It’s a highlight in

both the Wellington and the national performing arts calendar and we’re delighted to be able to make a contribution to such a major and successful cultural event,” he says.

Festival Chair Fran Wilde welcomed SKYCITY to the group of sponsors. “SKYCITY’s reputation for providing a total entertainment experience is a good fit with what is New Zealand’s largest cultural event.”

The Festival runs over three weeks from 24 February to 19 March and is jam-packed with exciting theatre, dance and musical acts. For more information on the New Zealand International Arts Festival, visit www.nzfestival.telecom.co.nz

Heart in VoH, new Caledonia, FranCe© / S20º57’ e164º41’ / Yann artHuS-Bertrand / From tHe ‘eartH From aBoVe’ exHiBition / www.YannartHuSBertrand.org under tHe patronage oF uneSCo and witH tHe generouS Support oF FujiFilm, air FranCe, euroCopter and tHe inStitut geograpHique national-FranCe.

SKYCitY SupportSart in tHe Capital

SKYCitY Shareholder newsletter - issue 04

december 2005

up w

ith t

he

plaYupdate

SKYCitY StarligHt SYmpHonY

In 2006, SKYCITY will once again deliver one of New Zealand’s largest free community performance events to Auckland.

Supported by the SKYCITY Community Trust, the SKYCITY Starlight Symphony will be held in the Auckland Domain on Saturday 25 February and promises a magical night of classical, jazz, operatic and contemporary music under the stars. Powerful bass-baritone Jonathan Lemalu and five-piece Kiwi pop group Goldenhorse are already confirmed to perform.

An estimated 200,000 people turned out for last year’s event which featured young opera singers, the Auckland Philharmonia, the SKYCITY Massed Choir and rock classics sung by Kiwi celebrities.

If you’re planning to be in Auckland on Saturday 25 February, make sure you come along to the SKYCITY Starlight Symphony for a night of exciting entertainment.

inCreaSing tHe FoCuS on Harm minimiSation

A recent appointment highlights the importance SKYCITY places on host responsibility. Debbie Edwards has joined SKYCITY as Harm Minimisation Manager, helping to ensure the business maintains its focus on new and significant harm minimisation research, policy and best practice.

Formerly Project Leader for Problem Gambling at the Ministry of Health, Debbie will work closely with government agencies and researchers and complement SKYCITY’s host responsibility team’s ongoing liaison with communities, public health and treatment services.

SKYCITY’s General Manager of Public Policy, David Kennedy, highlights SKYCITY’s important role to play in minimising harm. “Debbie’s appointment will assist SKYCITY in understanding leading-edge international research and best practice on minimising gambling harm. We can then translate that knowledge into how we relate to our customers,” he says.

SKYCitY at tHe raCeS

SKYCITY’s support of racing communities will continue in 2006 in Hamilton and Adelaide.

SKYCITY Hamilton’s General Manager David Christian is delighted that SKYCITY will continue its association with the SKYCITY Hamilton Cup. “Last year was the inaugural SKYCITY Hamilton Cup,” he says.

“It’s an exciting day out for local and visiting racing fans and a wonderful opportunity for SKYCITY to show its support for the local community.”

SKYCITY Adelaide is also a huge supporter of local racing and recently announced that they will be the major sponsor of next year’s prestigious Adelaide Cup event, making them one of the most pre-eminent sponsors of horse racing in South Australia.

This announcement follows SKYCITY’s sponsorship of the Adelaide Cup carnival for the first time this year. Next year’s Cup is expected to attract top horses from throughout Australasia and tens of thousands of racing supporters.

in a few months sKYciTY will celebrate its 10th birthday. it’s an appropriate time to take stock and reflect on the journey we have taken to become a diversified trans-Tasman gaming and entertainment company.

By focusing on creating a broad entertainment experience for a wide range of customers, SKYCITY has come a long way from the one-site company we were when we opened our Auckland business in 1996.

With a presence in six locations throughout New Zealand and Australia, along with over 100 cinema screens in New Zealand and Fiji, SKYCITY has a track record of solid growth and strong financial performance.

Although smoking bans impacted on our 2005 revenue, operating earnings for the Group increased by 10% following the acquisition of SKYCITY Darwin, a 41% shareholding in Christchurch Casino, and increased ownership in SKYCITY Hamilton and SKYCITY Leisure.

During the past year we have continued to add to our portfolio by improving existing assets and introducing new facilities, enhancing our ability to provide an attractive and wide-ranging entertainment and leisure experience.

During the first six months of this year we launched SKYCITY Grand Hotel, dine by Peter Gordon, and East Day Spa in Auckland. In July, 20,000 Lions’ fans poured into town and SKYCITY Grand Hotel was Auckland’s highest revenue-producing hotel during that period. We look forward with interest to the 2011 Rugby World Cup when New Zealand accommodation and entertainment outlets will host around 60,000 fans.

Consistent with our focus on continually enhancing customer experiences, in 2005 we completed upgrades at SKYCITY Adelaide, SKYCITY Darwin and SKYCITY Queenstown. At SKYCITY Hamilton we increased our shareholding to 100% and complemented this with the purchase of the surrounding Riverside Entertainment Centre.

In October we announced our interest in the acquisition of Taverner Hotel Group. While Taverner presented an exciting opportunity for SKYCITY, we had a clear idea of what price we would pay which would represent good value for our shareholders. Our priority continues to be getting the most out of our existing businesses. However, we will always keep our eyes open for opportunities where we can add value to the acquisition and extract value for shareholders, but at the right price.

At the end of October we held our annual meeting at the SKYCITY Auckland Convention Centre. Over 1,100 people attended and I enjoyed the opportunity to meet with some of you after the meeting. I would like to encourage more of your feedback and questions, so please make contact through an email address created especially for shareholders: upwiththeplay@skycity.co.nz

We’re working on a number of special events and offers to help us celebrate SKYCITY’s 10th year and I’m delighted to start this off by extending to you a special offer from each SKYCITY property in this issue of Up with the Play. If you would like to be kept updated by email with offers and activities throughout the year, please register your interest in the Investor Centre on SKYCITY’s website: www.skycity.co.nz

I wish you all a safe and happy Christmas and New Year with your friends and families.

Evan Davies Managing Director

inDulge in a night of luxury at skycity granD hotel

$185+ gSt

heaD north for a free Dessert

FreeBuy a main course at SKYCitY adelaide’s north restaurant and receive a delicious dessert for Free. Contemporary and stylish, north brings together the very best of South australia’s wine and produce to create an innovative and memorable dining experience in a relaxed, informal setting.

have a relaxing getaway at skycity Darwin

Spectacularly set amongst tropical beachside gardens, SKYCitY darwin is the perfect place for a relaxing luxury escape. treat yourself with these fantastic superior and Vip room rates and enjoy SKYCitY’s award-winning service and beautiful setting.

a$185

Double your Money at skycity haMilton

place a $5 bet at SKYCitY Hamilton and use this matchplay voucher to turn it into a $10 bet.

douBle Your moneY

Double your Money at skycity Queenstown casino

two Movie tickets for the price of one

there has never been a better time to go to the movies. Visit a Village SKYCitY cinema before 30 may 2006 and take a friend for free.

a meSSage

FromeVan daVieS

66% discount off standard rack rate for a luxury room

auckland’s SKYCitY grand Hotel is an oasis of luxury in the heart of a vibrant city.

2 For 1

place a $5 bet at SKYCitY queenstown Casino and use this matchplay voucher to turn it into a $10 bet.

douBle Your moneY

Both SKYCITY Darwin and SKYCITY Adelaide have received significant industry awards for their contributions to tourism.

Judges at the recent Brolga Awards in Darwin thought so highly of SKYCITY Darwin’s facilities and service that they presented them with two awards, confirming SKYCITY’s position as the Northern Territory’s leading entertainment and leisure destination.

The Brolga Awards are the Northern Territory’s most prestigious tourism awards, held in Darwin annually. Judges presented SKYCITY with the awards for ‘Luxury Accommodation’ and ‘Tourism Restaurants and Catering Services’.

General Manager Andrew Wilson accepted the awards on behalf of the SKYCITY Darwin team. “We have a remarkable team of people here at SKYCITY and it’s thanks to their hard work that we have been able to achieve such success,” he said. “It’s also exciting to be acknowledged as a leading contributor to this region.”

In Adelaide, SKYCITY won an Award of Distinction at the 2005 South Australian Tourism Awards gala presentation, narrowly missing out on winning the major award for New Tourism Development.

SKYCITY Adelaide’s entry was for Stage 1 of the redevelopment, which created an exciting new restaurant, bar and gaming area.

Hon. Jane Lomax-Smith, South Australia’s Minister for Tourism, presented SKYCITY with the award and described the $20 million development as a showpiece attraction for the State.

SKYCITY’s General Manager Australian Operations, Michael Silberling, said, “I am very proud of our achievement and the acknowledgement of SKYCITY Adelaide as one of the State’s true tourism destinations.”

Poker arrived at SKYCITY Auckland, SKYCITY Adelaide, SKYCITY Queenstown Casino and SKYCITY Hamilton this year.

The introduction of poker at SKYCITY follows an international resurgence in the game of skill and luck, fuelled by blockbuster movies and televised poker tournaments.

“Around the world, poker’s popularity has taken off,” says Greg Hawkins, SKYCITY Auckland’s General Manager of Gaming. “As the country’s largest gaming and entertainment venue, we want to be able to provide our customers with a wide range of gaming and entertainment options. Demand for poker is huge - our customers say they want it here,” he says.

Information on how to play is available from the SKYCITY Auckland website: www.skycityauckland.co.nz

Being a vital part of the community means listening to what those communities tell you. “The South Australian community told us one of their key concerns was children’s health and as a result, SKYCITY Adelaide decided to support two significant local initiatives,” says Michael Silberling, General Manager of SKYCITY’s Australian Operations.

Australia’s spiralling obesity rate encouraged SKYCITY Adelaide to donate $100,000 to the Flinders Medical Centre. The funds will go towards establishing the Children’s Healthy Weight Management Clinic, which will trial new methods of assessment and intervention to prevent and reverse long-term obesity in already-overweight children.

The sponsorship has been commended by Flinders Medical Centre Foundation Chairman Mr Alan Young, who says he is very encouraged that a major company such as SKYCITY is taking a proactive approach to an increasingly important community issue. “SKYCITY’s sponsorship enables the Foundation to support this vital initiative, which will not only benefit our immediate community but will undoubtedly provide national leadership in this field of endeavour,” he says.

Another recent SKYCITY Adelaide community initiative is proving to be a huge hit for employees and customers alike. Blue silicone wristbands featuring the word ‘BELIEVE!’ are for sale at SKYCITY Adelaide, supporting the McGuinness McDermott Foundation, and helping South Australian kids living with cancer.

SKYCITY Adelaide has been a major supporter of the McGuinness McDermott Foundation since 2001. The company provides the host venue for the annual Slowdown Charity football fundraising dinner and gets involved with supporting a range of the Foundation’s initiatives.

New Zealand companies are required to comply with new international financial reporting standards (IFRS) from 1 January 2007. However, SKYCITY has decided to adopt this new method of reporting early and will introduce IFRS from 1 July 2005. This means the interim financial statements for the six months to 31 December 2005 will be the first issued by the company under IFRS.

The intention of the new standards is to make company financial

statements more transparent and comparable with other

companies internationally, enabling investors to better

understand and compare company performance.

SKYCITY is one of the first to make the change in New

Zealand. It’s important to realise that this is merely a change

in accounting practice and will not affect SKYCITY’s business

operations or cash flows, but the presentation and content

of financial information will be different and previous period

comparative figures will need to be restated.

There will be a detailed explanation in the interim

report to explain the transition to IFRS. If you have any

questions or require further information, please email:

upwiththeplay@skycity.co.nz

SKYCitY to introduCe international reporting StandardS

SKYCitY promoteS HoSt reSponSiBilitY at

international

ConFerenCe

important

interim reSult announCement –wednesday 22 February 2006

annual reSult announCement – monday 21 august 2006

2006 annual meeting –

Friday 27 october 2006

annual meeting

SKYCITY’s 2005 annual meeting was held in Auckland on Friday 28 October. The following resolutions proposed at the annual meeting were passed by the required majority of votes:

- Re-election of Patsy Reddy as a director

- Re-election of Bill Trotter as a director

- Issue of share rights and restricted shares to Evan Davies

- Authorisation for directors to fix the fees and expenses of the company’s auditor

regiSter now to reCeiVe email updateS

You can now register online to receive email updates

from SKYCITY.

Visit the Investor Centre on www.skycitygroup.co.nz to

select which SKYCITY businesses you’re interested in

hearing more about.

Enter your details (including your shareholder number)

and you’ll receive media releases and promotional offers

throughout the year. You can unsubscribe at any time

by emailing upwiththeplay@skycity.co.nz.

If you haven’t already requested to receive Up With The

Play by email, head to this page to change your preference.

ContaCt SKYCitY

upwiththeplay@skycity.co.nz

enjoy a luxury room with this special shareholder offer of nZ$185+gSt per night.

please call SKYCitY auckland to make your reservation and quote the SKYCitY shareholder offer:

within new Zealand: 0800 SKYCitY (0800 759 2489) From australia: 1800 120 018 From the uK: 0800 028 8817 From the uSa: 1888 693 2498

For more information on SKYCitY auckland, visit: www.skycityauckland.co.nz this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

expiry date: 30 april 2006

in October sKYciTY was named as one of the

top 200 Asia Pacific companies with revenue

under us$1 billion by Forbes Asia magazine.

Prestigious tourism awards for skycity in Darwin and Adelaide

tHe King oF Card gameS arriVeS at SKYCitY

adelaideKidS get a

dr niCola Spurrier will Be running tHe new CHildren’S HealtHY weigHt management CliniC at FlinderS mediCal Centre (pHoto CourteSY oF tHe adelaide adVertiSer)

A call for greater collaboration between industry and service providers was the key message at the recent National Association for Gambling Studies conference.

SKYCITY attends the conference annually in Australia which brings together international gaming industry members, gambling treatment providers, academics, regulators and gamblers to discuss gambling-related matters.

SKYCITY’s Host Responsibility Manager, Junior Toleafoa (pictured above), presented at the conference about the introduction of host responsibility co-ordinators at SKYCITY Adelaide, an initiative that is unique within the wider Australasian gaming industry.

“There was a lot of talk at the conference about the need for stronger collaboration between all stakeholders to develop effective measures in the harm minimisation field,” says Junior. “Our host responsibility co-ordinators programme in Adelaide is a good demonstration of the collaborative approach.”

The co-ordinators were introduced in December 2004 following collaboration between SKYCITY Adelaide, the Churches Gambling Taskforce and Break Even counselling network. Their role is to constantly monitor customers and provide advice and assistance as required. They also manage the self-exclusion process and provide guidance and training to frontline staff and operational management.

Junior Toleafoa is responsible for host responsibility across the Group and works with host responsibility managers at each site to ensure this important area has a high profile with front-line staff. The team manages policy development and implementation, problem gambling and alcohol management training, and liaises with industry providers and regulatory authorities.

dateS

CCn: 04101361

For reservations please phone +61 8 8218 4273.

For more information on SKYCitY adelaide, visit: www.skycityadelaide.com.au

this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

IMPORTANT INFORMATION: those under the age of 18 are not permitted to enter SKYCitY adelaide, apart from north restaurant via the Station road entrance.

expiry date: 30 april 2006

CCn: 302293

also includes complimentary gaming and drink vouchers and tennis and golf green fees.Superior guest rooms a$185.00 Superior ocean View rooms a$215.00Vip Suites a$215.00 Vip ocean View Suites a$245.00room rates are inclusive of gSt.For reservations phone SKYCitY darwin on +61 8 8943 8888, toll-free from within australia on 1800 891 118 or via email at reservations@skycitydarwin.com.au. please quote the SKYCitY special guest offer. For more information on SKYCitY darwin, visit: www.skycitydarwin.com.authis voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability. expiry date: 30 april 2006

Code: 04101361

present this voucher at the action Station to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY Hamilton, visit: www.skycityhamilton.co.nzthis voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY gaming areas.

expiry date: 30 april 2006

CCn: 06-12-0629

present this voucher to the cashier to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY queenstown Casino, visit: www.skycityqueenstown.co.nz

this voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY queenstown Casino.

expiry date: 30 april 2006

CCn: 04101361

Visit www.villageskycity.co.nz to find out what’s on and when. Buy one movie ticket and get one free of equal or lesser value to the same session. Valid monday to Friday. Voucher cannot be used in conjunction with Village SKYCitY Cinemas movie money, gift vouchers or any other discounted offer. not valid for films marked ‘no complimentaries’ or for gold Class cinemas.this voucher is non-transferable. expiry date: 30 may 2006

Helping Hand

Both SKYCITY Darwin and SKYCITY Adelaide have received significant industry awards for their contributions to tourism.

Judges at the recent Brolga Awards in Darwin thought so highly of SKYCITY Darwin’s facilities and service that they presented them with two awards, confirming SKYCITY’s position as the Northern Territory’s leading entertainment and leisure destination.

The Brolga Awards are the Northern Territory’s most prestigious tourism awards, held in Darwin annually. Judges presented SKYCITY with the awards for ‘Luxury Accommodation’ and ‘Tourism Restaurants and Catering Services’.

General Manager Andrew Wilson accepted the awards on behalf of the SKYCITY Darwin team. “We have a remarkable team of people here at SKYCITY and it’s thanks to their hard work that we have been able to achieve such success,” he said. “It’s also exciting to be acknowledged as a leading contributor to this region.”

In Adelaide, SKYCITY won an Award of Distinction at the 2005 South Australian Tourism Awards gala presentation, narrowly missing out on winning the major award for New Tourism Development.

SKYCITY Adelaide’s entry was for Stage 1 of the redevelopment, which created an exciting new restaurant, bar and gaming area.

Hon. Jane Lomax-Smith, South Australia’s Minister for Tourism, presented SKYCITY with the award and described the $20 million development as a showpiece attraction for the State.

SKYCITY’s General Manager Australian Operations, Michael Silberling, said, “I am very proud of our achievement and the acknowledgement of SKYCITY Adelaide as one of the State’s true tourism destinations.”

Poker arrived at SKYCITY Auckland, SKYCITY Adelaide, SKYCITY Queenstown Casino and SKYCITY Hamilton this year.

The introduction of poker at SKYCITY follows an international resurgence in the game of skill and luck, fuelled by blockbuster movies and televised poker tournaments.

“Around the world, poker’s popularity has taken off,” says Greg Hawkins, SKYCITY Auckland’s General Manager of Gaming. “As the country’s largest gaming and entertainment venue, we want to be able to provide our customers with a wide range of gaming and entertainment options. Demand for poker is huge - our customers say they want it here,” he says.

Information on how to play is available from the SKYCITY Auckland website: www.skycityauckland.co.nz

Being a vital part of the community means listening to what those communities tell you. “The South Australian community told us one of their key concerns was children’s health and as a result, SKYCITY Adelaide decided to support two significant local initiatives,” says Michael Silberling, General Manager of SKYCITY’s Australian Operations.

Australia’s spiralling obesity rate encouraged SKYCITY Adelaide to donate $100,000 to the Flinders Medical Centre. The funds will go towards establishing the Children’s Healthy Weight Management Clinic, which will trial new methods of assessment and intervention to prevent and reverse long-term obesity in already-overweight children.

The sponsorship has been commended by Flinders Medical Centre Foundation Chairman Mr Alan Young, who says he is very encouraged that a major company such as SKYCITY is taking a proactive approach to an increasingly important community issue. “SKYCITY’s sponsorship enables the Foundation to support this vital initiative, which will not only benefit our immediate community but will undoubtedly provide national leadership in this field of endeavour,” he says.

Another recent SKYCITY Adelaide community initiative is proving to be a huge hit for employees and customers alike. Blue silicone wristbands featuring the word ‘BELIEVE!’ are for sale at SKYCITY Adelaide, supporting the McGuinness McDermott Foundation, and helping South Australian kids living with cancer.

SKYCITY Adelaide has been a major supporter of the McGuinness McDermott Foundation since 2001. The company provides the host venue for the annual Slowdown Charity football fundraising dinner and gets involved with supporting a range of the Foundation’s initiatives.

New Zealand companies are required to comply with new international financial reporting standards (IFRS) from 1 January 2007. However, SKYCITY has decided to adopt this new method of reporting early and will introduce IFRS from 1 July 2005. This means the interim financial statements for the six months to 31 December 2005 will be the first issued by the company under IFRS.

The intention of the new standards is to make company financial

statements more transparent and comparable with other

companies internationally, enabling investors to better

understand and compare company performance.

SKYCITY is one of the first to make the change in New

Zealand. It’s important to realise that this is merely a change

in accounting practice and will not affect SKYCITY’s business

operations or cash flows, but the presentation and content

of financial information will be different and previous period

comparative figures will need to be restated.

There will be a detailed explanation in the interim

report to explain the transition to IFRS. If you have any

questions or require further information, please email:

upwiththeplay@skycity.co.nz

SKYCitY to introduCe international reporting StandardS

SKYCitY promoteS HoSt reSponSiBilitY at

international

ConFerenCe

important

interim reSult announCement –wednesday 22 February 2006

annual reSult announCement – monday 21 august 2006

2006 annual meeting –

Friday 27 october 2006

annual meeting

SKYCITY’s 2005 annual meeting was held in Auckland on Friday 28 October. The following resolutions proposed at the annual meeting were passed by the required majority of votes:

- Re-election of Patsy Reddy as a director

- Re-election of Bill Trotter as a director

- Issue of share rights and restricted shares to Evan Davies

- Authorisation for directors to fix the fees and expenses of the company’s auditor

regiSter now to reCeiVe email updateS

You can now register online to receive email updates

from SKYCITY.

Visit the Investor Centre on www.skycitygroup.co.nz to

select which SKYCITY businesses you’re interested in

hearing more about.

Enter your details (including your shareholder number)

and you’ll receive media releases and promotional offers

throughout the year. You can unsubscribe at any time

by emailing upwiththeplay@skycity.co.nz.

If you haven’t already requested to receive Up With The

Play by email, head to this page to change your preference.

ContaCt SKYCitY

upwiththeplay@skycity.co.nz

enjoy a luxury room with this special shareholder offer of nZ$185+gSt per night.

please call SKYCitY auckland to make your reservation and quote the SKYCitY shareholder offer:

within new Zealand: 0800 SKYCitY (0800 759 2489) From australia: 1800 120 018 From the uK: 0800 028 8817 From the uSa: 1888 693 2498

For more information on SKYCitY auckland, visit: www.skycityauckland.co.nz this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

expiry date: 30 april 2006

in October sKYciTY was named as one of the

top 200 Asia Pacific companies with revenue

under us$1 billion by Forbes Asia magazine.

Prestigious tourism awards for skycity in Darwin and Adelaide

tHe King oF Card gameS arriVeS at SKYCitY

adelaideKidS get a

dr niCola Spurrier will Be running tHe new CHildren’S HealtHY weigHt management CliniC at FlinderS mediCal Centre (pHoto CourteSY oF tHe adelaide adVertiSer)

A call for greater collaboration between industry and service providers was the key message at the recent National Association for Gambling Studies conference.

SKYCITY attends the conference annually in Australia which brings together international gaming industry members, gambling treatment providers, academics, regulators and gamblers to discuss gambling-related matters.

SKYCITY’s Host Responsibility Manager, Junior Toleafoa (pictured above), presented at the conference about the introduction of host responsibility co-ordinators at SKYCITY Adelaide, an initiative that is unique within the wider Australasian gaming industry.

“There was a lot of talk at the conference about the need for stronger collaboration between all stakeholders to develop effective measures in the harm minimisation field,” says Junior. “Our host responsibility co-ordinators programme in Adelaide is a good demonstration of the collaborative approach.”

The co-ordinators were introduced in December 2004 following collaboration between SKYCITY Adelaide, the Churches Gambling Taskforce and Break Even counselling network. Their role is to constantly monitor customers and provide advice and assistance as required. They also manage the self-exclusion process and provide guidance and training to frontline staff and operational management.

Junior Toleafoa is responsible for host responsibility across the Group and works with host responsibility managers at each site to ensure this important area has a high profile with front-line staff. The team manages policy development and implementation, problem gambling and alcohol management training, and liaises with industry providers and regulatory authorities.

dateS

CCn: 04101361

For reservations please phone +61 8 8218 4273.

For more information on SKYCitY adelaide, visit: www.skycityadelaide.com.au

this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

IMPORTANT INFORMATION: those under the age of 18 are not permitted to enter SKYCitY adelaide, apart from north restaurant via the Station road entrance.

expiry date: 30 april 2006

CCn: 302293

also includes complimentary gaming and drink vouchers and tennis and golf green fees.Superior guest rooms a$185.00 Superior ocean View rooms a$215.00Vip Suites a$215.00 Vip ocean View Suites a$245.00room rates are inclusive of gSt.For reservations phone SKYCitY darwin on +61 8 8943 8888, toll-free from within australia on 1800 891 118 or via email at reservations@skycitydarwin.com.au. please quote the SKYCitY special guest offer. For more information on SKYCitY darwin, visit: www.skycitydarwin.com.authis voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability. expiry date: 30 april 2006

Code: 04101361

present this voucher at the action Station to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY Hamilton, visit: www.skycityhamilton.co.nzthis voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY gaming areas.

expiry date: 30 april 2006

CCn: 06-12-0629

present this voucher to the cashier to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY queenstown Casino, visit: www.skycityqueenstown.co.nz

this voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY queenstown Casino.

expiry date: 30 april 2006

CCn: 04101361

Visit www.villageskycity.co.nz to find out what’s on and when. Buy one movie ticket and get one free of equal or lesser value to the same session. Valid monday to Friday. Voucher cannot be used in conjunction with Village SKYCitY Cinemas movie money, gift vouchers or any other discounted offer. not valid for films marked ‘no complimentaries’ or for gold Class cinemas.this voucher is non-transferable. expiry date: 30 may 2006

Helping Hand

Both SKYCITY Darwin and SKYCITY Adelaide have received significant industry awards for their contributions to tourism.

Judges at the recent Brolga Awards in Darwin thought so highly of SKYCITY Darwin’s facilities and service that they presented them with two awards, confirming SKYCITY’s position as the Northern Territory’s leading entertainment and leisure destination.

The Brolga Awards are the Northern Territory’s most prestigious tourism awards, held in Darwin annually. Judges presented SKYCITY with the awards for ‘Luxury Accommodation’ and ‘Tourism Restaurants and Catering Services’.

General Manager Andrew Wilson accepted the awards on behalf of the SKYCITY Darwin team. “We have a remarkable team of people here at SKYCITY and it’s thanks to their hard work that we have been able to achieve such success,” he said. “It’s also exciting to be acknowledged as a leading contributor to this region.”

In Adelaide, SKYCITY won an Award of Distinction at the 2005 South Australian Tourism Awards gala presentation, narrowly missing out on winning the major award for New Tourism Development.

SKYCITY Adelaide’s entry was for Stage 1 of the redevelopment, which created an exciting new restaurant, bar and gaming area.

Hon. Jane Lomax-Smith, South Australia’s Minister for Tourism, presented SKYCITY with the award and described the $20 million development as a showpiece attraction for the State.

SKYCITY’s General Manager Australian Operations, Michael Silberling, said, “I am very proud of our achievement and the acknowledgement of SKYCITY Adelaide as one of the State’s true tourism destinations.”

Poker arrived at SKYCITY Auckland, SKYCITY Adelaide, SKYCITY Queenstown Casino and SKYCITY Hamilton this year.

The introduction of poker at SKYCITY follows an international resurgence in the game of skill and luck, fuelled by blockbuster movies and televised poker tournaments.

“Around the world, poker’s popularity has taken off,” says Greg Hawkins, SKYCITY Auckland’s General Manager of Gaming. “As the country’s largest gaming and entertainment venue, we want to be able to provide our customers with a wide range of gaming and entertainment options. Demand for poker is huge - our customers say they want it here,” he says.

Information on how to play is available from the SKYCITY Auckland website: www.skycityauckland.co.nz

Being a vital part of the community means listening to what those communities tell you. “The South Australian community told us one of their key concerns was children’s health and as a result, SKYCITY Adelaide decided to support two significant local initiatives,” says Michael Silberling, General Manager of SKYCITY’s Australian Operations.

Australia’s spiralling obesity rate encouraged SKYCITY Adelaide to donate $100,000 to the Flinders Medical Centre. The funds will go towards establishing the Children’s Healthy Weight Management Clinic, which will trial new methods of assessment and intervention to prevent and reverse long-term obesity in already-overweight children.

The sponsorship has been commended by Flinders Medical Centre Foundation Chairman Mr Alan Young, who says he is very encouraged that a major company such as SKYCITY is taking a proactive approach to an increasingly important community issue. “SKYCITY’s sponsorship enables the Foundation to support this vital initiative, which will not only benefit our immediate community but will undoubtedly provide national leadership in this field of endeavour,” he says.

Another recent SKYCITY Adelaide community initiative is proving to be a huge hit for employees and customers alike. Blue silicone wristbands featuring the word ‘BELIEVE!’ are for sale at SKYCITY Adelaide, supporting the McGuinness McDermott Foundation, and helping South Australian kids living with cancer.

SKYCITY Adelaide has been a major supporter of the McGuinness McDermott Foundation since 2001. The company provides the host venue for the annual Slowdown Charity football fundraising dinner and gets involved with supporting a range of the Foundation’s initiatives.

New Zealand companies are required to comply with new international financial reporting standards (IFRS) from 1 January 2007. However, SKYCITY has decided to adopt this new method of reporting early and will introduce IFRS from 1 July 2005. This means the interim financial statements for the six months to 31 December 2005 will be the first issued by the company under IFRS.

The intention of the new standards is to make company financial

statements more transparent and comparable with other

companies internationally, enabling investors to better

understand and compare company performance.

SKYCITY is one of the first to make the change in New

Zealand. It’s important to realise that this is merely a change

in accounting practice and will not affect SKYCITY’s business

operations or cash flows, but the presentation and content

of financial information will be different and previous period

comparative figures will need to be restated.

There will be a detailed explanation in the interim

report to explain the transition to IFRS. If you have any

questions or require further information, please email:

upwiththeplay@skycity.co.nz

SKYCitY to introduCe international reporting StandardS

SKYCitY promoteS HoSt reSponSiBilitY at

international

ConFerenCe

important

interim reSult announCement –wednesday 22 February 2006

annual reSult announCement – monday 21 august 2006

2006 annual meeting –

Friday 27 october 2006

annual meeting

SKYCITY’s 2005 annual meeting was held in Auckland on Friday 28 October. The following resolutions proposed at the annual meeting were passed by the required majority of votes:

- Re-election of Patsy Reddy as a director

- Re-election of Bill Trotter as a director

- Issue of share rights and restricted shares to Evan Davies

- Authorisation for directors to fix the fees and expenses of the company’s auditor

regiSter now to reCeiVe email updateS

You can now register online to receive email updates

from SKYCITY.

Visit the Investor Centre on www.skycitygroup.co.nz to

select which SKYCITY businesses you’re interested in

hearing more about.

Enter your details (including your shareholder number)

and you’ll receive media releases and promotional offers

throughout the year. You can unsubscribe at any time

by emailing upwiththeplay@skycity.co.nz.

If you haven’t already requested to receive Up With The

Play by email, head to this page to change your preference.

ContaCt SKYCitY

upwiththeplay@skycity.co.nz

enjoy a luxury room with this special shareholder offer of nZ$185+gSt per night.

please call SKYCitY auckland to make your reservation and quote the SKYCitY shareholder offer:

within new Zealand: 0800 SKYCitY (0800 759 2489) From australia: 1800 120 018 From the uK: 0800 028 8817 From the uSa: 1888 693 2498

For more information on SKYCitY auckland, visit: www.skycityauckland.co.nz this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

expiry date: 30 april 2006

in October sKYciTY was named as one of the

top 200 Asia Pacific companies with revenue

under us$1 billion by Forbes Asia magazine.

Prestigious tourism awards for skycity in Darwin and Adelaide

tHe King oF Card gameS arriVeS at SKYCitY

adelaideKidS get a

dr niCola Spurrier will Be running tHe new CHildren’S HealtHY weigHt management CliniC at FlinderS mediCal Centre (pHoto CourteSY oF tHe adelaide adVertiSer)

A call for greater collaboration between industry and service providers was the key message at the recent National Association for Gambling Studies conference.

SKYCITY attends the conference annually in Australia which brings together international gaming industry members, gambling treatment providers, academics, regulators and gamblers to discuss gambling-related matters.

SKYCITY’s Host Responsibility Manager, Junior Toleafoa (pictured above), presented at the conference about the introduction of host responsibility co-ordinators at SKYCITY Adelaide, an initiative that is unique within the wider Australasian gaming industry.

“There was a lot of talk at the conference about the need for stronger collaboration between all stakeholders to develop effective measures in the harm minimisation field,” says Junior. “Our host responsibility co-ordinators programme in Adelaide is a good demonstration of the collaborative approach.”

The co-ordinators were introduced in December 2004 following collaboration between SKYCITY Adelaide, the Churches Gambling Taskforce and Break Even counselling network. Their role is to constantly monitor customers and provide advice and assistance as required. They also manage the self-exclusion process and provide guidance and training to frontline staff and operational management.

Junior Toleafoa is responsible for host responsibility across the Group and works with host responsibility managers at each site to ensure this important area has a high profile with front-line staff. The team manages policy development and implementation, problem gambling and alcohol management training, and liaises with industry providers and regulatory authorities.

dateS

CCn: 04101361

For reservations please phone +61 8 8218 4273.

For more information on SKYCitY adelaide, visit: www.skycityadelaide.com.au

this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

IMPORTANT INFORMATION: those under the age of 18 are not permitted to enter SKYCitY adelaide, apart from north restaurant via the Station road entrance.

expiry date: 30 april 2006

CCn: 302293

also includes complimentary gaming and drink vouchers and tennis and golf green fees.Superior guest rooms a$185.00 Superior ocean View rooms a$215.00Vip Suites a$215.00 Vip ocean View Suites a$245.00room rates are inclusive of gSt.For reservations phone SKYCitY darwin on +61 8 8943 8888, toll-free from within australia on 1800 891 118 or via email at reservations@skycitydarwin.com.au. please quote the SKYCitY special guest offer. For more information on SKYCitY darwin, visit: www.skycitydarwin.com.authis voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability. expiry date: 30 april 2006

Code: 04101361

present this voucher at the action Station to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY Hamilton, visit: www.skycityhamilton.co.nzthis voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY gaming areas.

expiry date: 30 april 2006

CCn: 06-12-0629

present this voucher to the cashier to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY queenstown Casino, visit: www.skycityqueenstown.co.nz

this voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY queenstown Casino.

expiry date: 30 april 2006

CCn: 04101361

Visit www.villageskycity.co.nz to find out what’s on and when. Buy one movie ticket and get one free of equal or lesser value to the same session. Valid monday to Friday. Voucher cannot be used in conjunction with Village SKYCitY Cinemas movie money, gift vouchers or any other discounted offer. not valid for films marked ‘no complimentaries’ or for gold Class cinemas.this voucher is non-transferable. expiry date: 30 may 2006

Helping Hand

As a trans-Tasman leader in providing fun and entertainment, becoming a gold sponsor of the New Zealand International Arts Festival in New Zealand’s capital city, Wellington, was a natural fit for SKYCITY.

The sponsorship builds on strong linkages that SKYCITY already has in Wellington, including (through Village SKYCITY) the operational management of the historic Embassy Theatre and the planned nine-screen multiplex due to open at Westfield’s Queensgate Mall in Lower Hutt in April 2006.

SKYCITY Managing Director Evan Davies says SKYCITY is proud to support the International Arts Festival. “It’s a highlight in

both the Wellington and the national performing arts calendar and we’re delighted to be able to make a contribution to such a major and successful cultural event,” he says.

Festival Chair Fran Wilde welcomed SKYCITY to the group of sponsors. “SKYCITY’s reputation for providing a total entertainment experience is a good fit with what is New Zealand’s largest cultural event.”

The Festival runs over three weeks from 24 February to 19 March and is jam-packed with exciting theatre, dance and musical acts. For more information on the New Zealand International Arts Festival, visit www.nzfestival.telecom.co.nz

Heart in VoH, new Caledonia, FranCe© / S20º57’ e164º41’ / Yann artHuS-Bertrand / From tHe ‘eartH From aBoVe’ exHiBition / www.YannartHuSBertrand.org under tHe patronage oF uneSCo and witH tHe generouS Support oF FujiFilm, air FranCe, euroCopter and tHe inStitut geograpHique national-FranCe.

SKYCitY SupportSart in tHe Capital

SKYCitY Shareholder newsletter - issue 04

december 2005

up w

ith t

he

plaYupdate

SKYCitY StarligHt SYmpHonY

In 2006, SKYCITY will once again deliver one of New Zealand’s largest free community performance events to Auckland.

Supported by the SKYCITY Community Trust, the SKYCITY Starlight Symphony will be held in the Auckland Domain on Saturday 25 February and promises a magical night of classical, jazz, operatic and contemporary music under the stars. Powerful bass-baritone Jonathan Lemalu and five-piece Kiwi pop group Goldenhorse are already confirmed to perform.

An estimated 200,000 people turned out for last year’s event which featured young opera singers, the Auckland Philharmonia, the SKYCITY Massed Choir and rock classics sung by Kiwi celebrities.

If you’re planning to be in Auckland on Saturday 25 February, make sure you come along to the SKYCITY Starlight Symphony for a night of exciting entertainment.

inCreaSing tHe FoCuS on Harm minimiSation

A recent appointment highlights the importance SKYCITY places on host responsibility. Debbie Edwards has joined SKYCITY as Harm Minimisation Manager, helping to ensure the business maintains its focus on new and significant harm minimisation research, policy and best practice.

Formerly Project Leader for Problem Gambling at the Ministry of Health, Debbie will work closely with government agencies and researchers and complement SKYCITY’s host responsibility team’s ongoing liaison with communities, public health and treatment services.

SKYCITY’s General Manager of Public Policy, David Kennedy, highlights SKYCITY’s important role to play in minimising harm. “Debbie’s appointment will assist SKYCITY in understanding leading-edge international research and best practice on minimising gambling harm. We can then translate that knowledge into how we relate to our customers,” he says.

SKYCitY at tHe raCeS

SKYCITY’s support of racing communities will continue in 2006 in Hamilton and Adelaide.

SKYCITY Hamilton’s General Manager David Christian is delighted that SKYCITY will continue its association with the SKYCITY Hamilton Cup. “Last year was the inaugural SKYCITY Hamilton Cup,” he says.

“It’s an exciting day out for local and visiting racing fans and a wonderful opportunity for SKYCITY to show its support for the local community.”

SKYCITY Adelaide is also a huge supporter of local racing and recently announced that they will be the major sponsor of next year’s prestigious Adelaide Cup event, making them one of the most pre-eminent sponsors of horse racing in South Australia.

This announcement follows SKYCITY’s sponsorship of the Adelaide Cup carnival for the first time this year. Next year’s Cup is expected to attract top horses from throughout Australasia and tens of thousands of racing supporters.

in a few months sKYciTY will celebrate its 10th birthday. it’s an appropriate time to take stock and reflect on the journey we have taken to become a diversified trans-Tasman gaming and entertainment company.

By focusing on creating a broad entertainment experience for a wide range of customers, SKYCITY has come a long way from the one-site company we were when we opened our Auckland business in 1996.

With a presence in six locations throughout New Zealand and Australia, along with over 100 cinema screens in New Zealand and Fiji, SKYCITY has a track record of solid growth and strong financial performance.

Although smoking bans impacted on our 2005 revenue, operating earnings for the Group increased by 10% following the acquisition of SKYCITY Darwin, a 41% shareholding in Christchurch Casino, and increased ownership in SKYCITY Hamilton and SKYCITY Leisure.

During the past year we have continued to add to our portfolio by improving existing assets and introducing new facilities, enhancing our ability to provide an attractive and wide-ranging entertainment and leisure experience.

During the first six months of this year we launched SKYCITY Grand Hotel, dine by Peter Gordon, and East Day Spa in Auckland. In July, 20,000 Lions’ fans poured into town and SKYCITY Grand Hotel was Auckland’s highest revenue-producing hotel during that period. We look forward with interest to the 2011 Rugby World Cup when New Zealand accommodation and entertainment outlets will host around 60,000 fans.

Consistent with our focus on continually enhancing customer experiences, in 2005 we completed upgrades at SKYCITY Adelaide, SKYCITY Darwin and SKYCITY Queenstown. At SKYCITY Hamilton we increased our shareholding to 100% and complemented this with the purchase of the surrounding Riverside Entertainment Centre.

In October we announced our interest in the acquisition of Taverner Hotel Group. While Taverner presented an exciting opportunity for SKYCITY, we had a clear idea of what price we would pay which would represent good value for our shareholders. Our priority continues to be getting the most out of our existing businesses. However, we will always keep our eyes open for opportunities where we can add value to the acquisition and extract value for shareholders, but at the right price.

At the end of October we held our annual meeting at the SKYCITY Auckland Convention Centre. Over 1,100 people attended and I enjoyed the opportunity to meet with some of you after the meeting. I would like to encourage more of your feedback and questions, so please make contact through an email address created especially for shareholders: upwiththeplay@skycity.co.nz

We’re working on a number of special events and offers to help us celebrate SKYCITY’s 10th year and I’m delighted to start this off by extending to you a special offer from each SKYCITY property in this issue of Up with the Play. If you would like to be kept updated by email with offers and activities throughout the year, please register your interest in the Investor Centre on SKYCITY’s website: www.skycity.co.nz

I wish you all a safe and happy Christmas and New Year with your friends and families.

Evan Davies Managing Director

inDulge in a night of luxury at skycity granD hotel

$185+ gSt

heaD north for a free Dessert

FreeBuy a main course at SKYCitY adelaide’s north restaurant and receive a delicious dessert for Free. Contemporary and stylish, north brings together the very best of South australia’s wine and produce to create an innovative and memorable dining experience in a relaxed, informal setting.

have a relaxing getaway at skycity Darwin

Spectacularly set amongst tropical beachside gardens, SKYCitY darwin is the perfect place for a relaxing luxury escape. treat yourself with these fantastic superior and Vip room rates and enjoy SKYCitY’s award-winning service and beautiful setting.

a$185

Double your Money at skycity haMilton

place a $5 bet at SKYCitY Hamilton and use this matchplay voucher to turn it into a $10 bet.

douBle Your moneY

Double your Money at skycity Queenstown casino

two Movie tickets for the price of one

there has never been a better time to go to the movies. Visit a Village SKYCitY cinema before 30 may 2006 and take a friend for free.

a meSSage

FromeVan daVieS

66% discount off standard rack rate for a luxury room

auckland’s SKYCitY grand Hotel is an oasis of luxury in the heart of a vibrant city.

2 For 1

place a $5 bet at SKYCitY queenstown Casino and use this matchplay voucher to turn it into a $10 bet.

douBle Your moneY

As a trans-Tasman leader in providing fun and entertainment, becoming a gold sponsor of the New Zealand International Arts Festival in New Zealand’s capital city, Wellington, was a natural fit for SKYCITY.

The sponsorship builds on strong linkages that SKYCITY already has in Wellington, including (through Village SKYCITY) the operational management of the historic Embassy Theatre and the planned nine-screen multiplex due to open at Westfield’s Queensgate Mall in Lower Hutt in April 2006.

SKYCITY Managing Director Evan Davies says SKYCITY is proud to support the International Arts Festival. “It’s a highlight in

both the Wellington and the national performing arts calendar and we’re delighted to be able to make a contribution to such a major and successful cultural event,” he says.

Festival Chair Fran Wilde welcomed SKYCITY to the group of sponsors. “SKYCITY’s reputation for providing a total entertainment experience is a good fit with what is New Zealand’s largest cultural event.”

The Festival runs over three weeks from 24 February to 19 March and is jam-packed with exciting theatre, dance and musical acts. For more information on the New Zealand International Arts Festival, visit www.nzfestival.telecom.co.nz

Heart in VoH, new Caledonia, FranCe© / S20º57’ e164º41’ / Yann artHuS-Bertrand / From tHe ‘eartH From aBoVe’ exHiBition / www.YannartHuSBertrand.org under tHe patronage oF uneSCo and witH tHe generouS Support oF FujiFilm, air FranCe, euroCopter and tHe inStitut geograpHique national-FranCe.

SKYCitY SupportSart in tHe Capital

SKYCitY Shareholder newsletter - issue 04

december 2005

up w

ith t

he

plaYupdate

SKYCitY StarligHt SYmpHonY

In 2006, SKYCITY will once again deliver one of New Zealand’s largest free community performance events to Auckland.

Supported by the SKYCITY Community Trust, the SKYCITY Starlight Symphony will be held in the Auckland Domain on Saturday 25 February and promises a magical night of classical, jazz, operatic and contemporary music under the stars. Powerful bass-baritone Jonathan Lemalu and five-piece Kiwi pop group Goldenhorse are already confirmed to perform.

An estimated 200,000 people turned out for last year’s event which featured young opera singers, the Auckland Philharmonia, the SKYCITY Massed Choir and rock classics sung by Kiwi celebrities.

If you’re planning to be in Auckland on Saturday 25 February, make sure you come along to the SKYCITY Starlight Symphony for a night of exciting entertainment.

inCreaSing tHe FoCuS on Harm minimiSation

A recent appointment highlights the importance SKYCITY places on host responsibility. Debbie Edwards has joined SKYCITY as Harm Minimisation Manager, helping to ensure the business maintains its focus on new and significant harm minimisation research, policy and best practice.

Formerly Project Leader for Problem Gambling at the Ministry of Health, Debbie will work closely with government agencies and researchers and complement SKYCITY’s host responsibility team’s ongoing liaison with communities, public health and treatment services.

SKYCITY’s General Manager of Public Policy, David Kennedy, highlights SKYCITY’s important role to play in minimising harm. “Debbie’s appointment will assist SKYCITY in understanding leading-edge international research and best practice on minimising gambling harm. We can then translate that knowledge into how we relate to our customers,” he says.

SKYCitY at tHe raCeS

SKYCITY’s support of racing communities will continue in 2006 in Hamilton and Adelaide.

SKYCITY Hamilton’s General Manager David Christian is delighted that SKYCITY will continue its association with the SKYCITY Hamilton Cup. “Last year was the inaugural SKYCITY Hamilton Cup,” he says.

“It’s an exciting day out for local and visiting racing fans and a wonderful opportunity for SKYCITY to show its support for the local community.”

SKYCITY Adelaide is also a huge supporter of local racing and recently announced that they will be the major sponsor of next year’s prestigious Adelaide Cup event, making them one of the most pre-eminent sponsors of horse racing in South Australia.

This announcement follows SKYCITY’s sponsorship of the Adelaide Cup carnival for the first time this year. Next year’s Cup is expected to attract top horses from throughout Australasia and tens of thousands of racing supporters.

in a few months sKYciTY will celebrate its 10th birthday. it’s an appropriate time to take stock and reflect on the journey we have taken to become a diversified trans-Tasman gaming and entertainment company.

By focusing on creating a broad entertainment experience for a wide range of customers, SKYCITY has come a long way from the one-site company we were when we opened our Auckland business in 1996.

With a presence in six locations throughout New Zealand and Australia, along with over 100 cinema screens in New Zealand and Fiji, SKYCITY has a track record of solid growth and strong financial performance.

Although smoking bans impacted on our 2005 revenue, operating earnings for the Group increased by 10% following the acquisition of SKYCITY Darwin, a 41% shareholding in Christchurch Casino, and increased ownership in SKYCITY Hamilton and SKYCITY Leisure.

During the past year we have continued to add to our portfolio by improving existing assets and introducing new facilities, enhancing our ability to provide an attractive and wide-ranging entertainment and leisure experience.

During the first six months of this year we launched SKYCITY Grand Hotel, dine by Peter Gordon, and East Day Spa in Auckland. In July, 20,000 Lions’ fans poured into town and SKYCITY Grand Hotel was Auckland’s highest revenue-producing hotel during that period. We look forward with interest to the 2011 Rugby World Cup when New Zealand accommodation and entertainment outlets will host around 60,000 fans.

Consistent with our focus on continually enhancing customer experiences, in 2005 we completed upgrades at SKYCITY Adelaide, SKYCITY Darwin and SKYCITY Queenstown. At SKYCITY Hamilton we increased our shareholding to 100% and complemented this with the purchase of the surrounding Riverside Entertainment Centre.

In October we announced our interest in the acquisition of Taverner Hotel Group. While Taverner presented an exciting opportunity for SKYCITY, we had a clear idea of what price we would pay which would represent good value for our shareholders. Our priority continues to be getting the most out of our existing businesses. However, we will always keep our eyes open for opportunities where we can add value to the acquisition and extract value for shareholders, but at the right price.

At the end of October we held our annual meeting at the SKYCITY Auckland Convention Centre. Over 1,100 people attended and I enjoyed the opportunity to meet with some of you after the meeting. I would like to encourage more of your feedback and questions, so please make contact through an email address created especially for shareholders: upwiththeplay@skycity.co.nz

We’re working on a number of special events and offers to help us celebrate SKYCITY’s 10th year and I’m delighted to start this off by extending to you a special offer from each SKYCITY property in this issue of Up with the Play. If you would like to be kept updated by email with offers and activities throughout the year, please register your interest in the Investor Centre on SKYCITY’s website: www.skycity.co.nz

I wish you all a safe and happy Christmas and New Year with your friends and families.

Evan Davies Managing Director

inDulge in a night of luxury at skycity granD hotel

$185+ gSt

heaD north for a free Dessert

FreeBuy a main course at SKYCitY adelaide’s north restaurant and receive a delicious dessert for Free. Contemporary and stylish, north brings together the very best of South australia’s wine and produce to create an innovative and memorable dining experience in a relaxed, informal setting.

have a relaxing getaway at skycity Darwin

Spectacularly set amongst tropical beachside gardens, SKYCitY darwin is the perfect place for a relaxing luxury escape. treat yourself with these fantastic superior and Vip room rates and enjoy SKYCitY’s award-winning service and beautiful setting.

a$185

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two Movie tickets for the price of one

there has never been a better time to go to the movies. Visit a Village SKYCitY cinema before 30 may 2006 and take a friend for free.

a meSSage

FromeVan daVieS

66% discount off standard rack rate for a luxury room

auckland’s SKYCitY grand Hotel is an oasis of luxury in the heart of a vibrant city.

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place a $5 bet at SKYCitY queenstown Casino and use this matchplay voucher to turn it into a $10 bet.

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Both SKYCITY Darwin and SKYCITY Adelaide have received significant industry awards for their contributions to tourism.

Judges at the recent Brolga Awards in Darwin thought so highly of SKYCITY Darwin’s facilities and service that they presented them with two awards, confirming SKYCITY’s position as the Northern Territory’s leading entertainment and leisure destination.

The Brolga Awards are the Northern Territory’s most prestigious tourism awards, held in Darwin annually. Judges presented SKYCITY with the awards for ‘Luxury Accommodation’ and ‘Tourism Restaurants and Catering Services’.

General Manager Andrew Wilson accepted the awards on behalf of the SKYCITY Darwin team. “We have a remarkable team of people here at SKYCITY and it’s thanks to their hard work that we have been able to achieve such success,” he said. “It’s also exciting to be acknowledged as a leading contributor to this region.”

In Adelaide, SKYCITY won an Award of Distinction at the 2005 South Australian Tourism Awards gala presentation, narrowly missing out on winning the major award for New Tourism Development.

SKYCITY Adelaide’s entry was for Stage 1 of the redevelopment, which created an exciting new restaurant, bar and gaming area.

Hon. Jane Lomax-Smith, South Australia’s Minister for Tourism, presented SKYCITY with the award and described the $20 million development as a showpiece attraction for the State.

SKYCITY’s General Manager Australian Operations, Michael Silberling, said, “I am very proud of our achievement and the acknowledgement of SKYCITY Adelaide as one of the State’s true tourism destinations.”

Poker arrived at SKYCITY Auckland, SKYCITY Adelaide, SKYCITY Queenstown Casino and SKYCITY Hamilton this year.

The introduction of poker at SKYCITY follows an international resurgence in the game of skill and luck, fuelled by blockbuster movies and televised poker tournaments.

“Around the world, poker’s popularity has taken off,” says Greg Hawkins, SKYCITY Auckland’s General Manager of Gaming. “As the country’s largest gaming and entertainment venue, we want to be able to provide our customers with a wide range of gaming and entertainment options. Demand for poker is huge - our customers say they want it here,” he says.

Information on how to play is available from the SKYCITY Auckland website: www.skycityauckland.co.nz

Being a vital part of the community means listening to what those communities tell you. “The South Australian community told us one of their key concerns was children’s health and as a result, SKYCITY Adelaide decided to support two significant local initiatives,” says Michael Silberling, General Manager of SKYCITY’s Australian Operations.

Australia’s spiralling obesity rate encouraged SKYCITY Adelaide to donate $100,000 to the Flinders Medical Centre. The funds will go towards establishing the Children’s Healthy Weight Management Clinic, which will trial new methods of assessment and intervention to prevent and reverse long-term obesity in already-overweight children.

The sponsorship has been commended by Flinders Medical Centre Foundation Chairman Mr Alan Young, who says he is very encouraged that a major company such as SKYCITY is taking a proactive approach to an increasingly important community issue. “SKYCITY’s sponsorship enables the Foundation to support this vital initiative, which will not only benefit our immediate community but will undoubtedly provide national leadership in this field of endeavour,” he says.

Another recent SKYCITY Adelaide community initiative is proving to be a huge hit for employees and customers alike. Blue silicone wristbands featuring the word ‘BELIEVE!’ are for sale at SKYCITY Adelaide, supporting the McGuinness McDermott Foundation, and helping South Australian kids living with cancer.

SKYCITY Adelaide has been a major supporter of the McGuinness McDermott Foundation since 2001. The company provides the host venue for the annual Slowdown Charity football fundraising dinner and gets involved with supporting a range of the Foundation’s initiatives.

New Zealand companies are required to comply with new international financial reporting standards (IFRS) from 1 January 2007. However, SKYCITY has decided to adopt this new method of reporting early and will introduce IFRS from 1 July 2005. This means the interim financial statements for the six months to 31 December 2005 will be the first issued by the company under IFRS.

The intention of the new standards is to make company financial

statements more transparent and comparable with other

companies internationally, enabling investors to better

understand and compare company performance.

SKYCITY is one of the first to make the change in New

Zealand. It’s important to realise that this is merely a change

in accounting practice and will not affect SKYCITY’s business

operations or cash flows, but the presentation and content

of financial information will be different and previous period

comparative figures will need to be restated.

There will be a detailed explanation in the interim

report to explain the transition to IFRS. If you have any

questions or require further information, please email:

upwiththeplay@skycity.co.nz

SKYCitY to introduCe international reporting StandardS

SKYCitY promoteS HoSt reSponSiBilitY at

international

ConFerenCe

important

interim reSult announCement –wednesday 22 February 2006

annual reSult announCement – monday 21 august 2006

2006 annual meeting –

Friday 27 october 2006

annual meeting

SKYCITY’s 2005 annual meeting was held in Auckland on Friday 28 October. The following resolutions proposed at the annual meeting were passed by the required majority of votes:

- Re-election of Patsy Reddy as a director

- Re-election of Bill Trotter as a director

- Issue of share rights and restricted shares to Evan Davies

- Authorisation for directors to fix the fees and expenses of the company’s auditor

regiSter now to reCeiVe email updateS

You can now register online to receive email updates

from SKYCITY.

Visit the Investor Centre on www.skycitygroup.co.nz to

select which SKYCITY businesses you’re interested in

hearing more about.

Enter your details (including your shareholder number)

and you’ll receive media releases and promotional offers

throughout the year. You can unsubscribe at any time

by emailing upwiththeplay@skycity.co.nz.

If you haven’t already requested to receive Up With The

Play by email, head to this page to change your preference.

ContaCt SKYCitY

upwiththeplay@skycity.co.nz

enjoy a luxury room with this special shareholder offer of nZ$185+gSt per night.

please call SKYCitY auckland to make your reservation and quote the SKYCitY shareholder offer:

within new Zealand: 0800 SKYCitY (0800 759 2489) From australia: 1800 120 018 From the uK: 0800 028 8817 From the uSa: 1888 693 2498

For more information on SKYCitY auckland, visit: www.skycityauckland.co.nz this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

expiry date: 30 april 2006

in October sKYciTY was named as one of the

top 200 Asia Pacific companies with revenue

under us$1 billion by Forbes Asia magazine.

Prestigious tourism awards for skycity in Darwin and Adelaide

tHe King oF Card gameS arriVeS at SKYCitY

adelaideKidS get a

dr niCola Spurrier will Be running tHe new CHildren’S HealtHY weigHt management CliniC at FlinderS mediCal Centre (pHoto CourteSY oF tHe adelaide adVertiSer)

A call for greater collaboration between industry and service providers was the key message at the recent National Association for Gambling Studies conference.

SKYCITY attends the conference annually in Australia which brings together international gaming industry members, gambling treatment providers, academics, regulators and gamblers to discuss gambling-related matters.

SKYCITY’s Host Responsibility Manager, Junior Toleafoa (pictured above), presented at the conference about the introduction of host responsibility co-ordinators at SKYCITY Adelaide, an initiative that is unique within the wider Australasian gaming industry.

“There was a lot of talk at the conference about the need for stronger collaboration between all stakeholders to develop effective measures in the harm minimisation field,” says Junior. “Our host responsibility co-ordinators programme in Adelaide is a good demonstration of the collaborative approach.”

The co-ordinators were introduced in December 2004 following collaboration between SKYCITY Adelaide, the Churches Gambling Taskforce and Break Even counselling network. Their role is to constantly monitor customers and provide advice and assistance as required. They also manage the self-exclusion process and provide guidance and training to frontline staff and operational management.

Junior Toleafoa is responsible for host responsibility across the Group and works with host responsibility managers at each site to ensure this important area has a high profile with front-line staff. The team manages policy development and implementation, problem gambling and alcohol management training, and liaises with industry providers and regulatory authorities.

dateS

CCn: 04101361

For reservations please phone +61 8 8218 4273.

For more information on SKYCitY adelaide, visit: www.skycityadelaide.com.au

this voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability.

IMPORTANT INFORMATION: those under the age of 18 are not permitted to enter SKYCitY adelaide, apart from north restaurant via the Station road entrance.

expiry date: 30 april 2006

CCn: 302293

also includes complimentary gaming and drink vouchers and tennis and golf green fees.Superior guest rooms a$185.00 Superior ocean View rooms a$215.00Vip Suites a$215.00 Vip ocean View Suites a$245.00room rates are inclusive of gSt.For reservations phone SKYCitY darwin on +61 8 8943 8888, toll-free from within australia on 1800 891 118 or via email at reservations@skycitydarwin.com.au. please quote the SKYCitY special guest offer. For more information on SKYCitY darwin, visit: www.skycitydarwin.com.authis voucher is non-transferable and cannot be used in conjunction with any other offer. Bookings are subject to availability. expiry date: 30 april 2006

Code: 04101361

present this voucher at the action Station to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY Hamilton, visit: www.skycityhamilton.co.nzthis voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY gaming areas.

expiry date: 30 april 2006

CCn: 06-12-0629

present this voucher to the cashier to receive a matchplay token. when you place a minimum bet of $5 on a table game, you will receive an additional $5 bet with the matchplay token. For more information on SKYCitY queenstown Casino, visit: www.skycityqueenstown.co.nz

this voucher is non-transferable and cannot be used in conjunction with any other offer. one voucher only per SKYCitY shareholder.

IMPORTANT INFORMATION: those under the age of 20 are not permitted to enter SKYCitY queenstown Casino.

expiry date: 30 april 2006

CCn: 04101361

Visit www.villageskycity.co.nz to find out what’s on and when. Buy one movie ticket and get one free of equal or lesser value to the same session. Valid monday to Friday. Voucher cannot be used in conjunction with Village SKYCitY Cinemas movie money, gift vouchers or any other discounted offer. not valid for films marked ‘no complimentaries’ or for gold Class cinemas.this voucher is non-transferable. expiry date: 30 may 2006

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