SKYCITY Entertainment Group last week announced plans to invest more than $300 million to transform Adelaide Casino into a world-class integrated entertainment complex and demonstrate the company's commitment to South Australia.
SkyCity Chief Executive Nigel Morrison said that while development concepts are still being finalised, the company is planning Adelaide's first 6 star boutique hotel, celebrity and signature restaurants, new car park facilities and world-class VIP gaming experiences.
"Having reached agreement with the South Australian Government regarding the future regulatory, taxation and exclusivity framework, subject to necessary approvals, we can now plan for the transformation of Adelaide Casino into a world class integrated entertainment complex," he said.
Mr Morrison said integrated entertainment complexes that provide a comprehensive range of offerings such as VIP facilities and outstanding dining experiences are vital to attracting high end Asian, particularly Chinese tourists.
"The revamped Adelaide Casino will be an important element of the redevelopment of the Riverbank Precinct and supports the State Government's vision for the area," he said.
"It will complement the new Adelaide Riverbank Precinct with its re-developed Adelaide Oval in readiness for AFL football in March 2014, the new and expanded car park facilities, the new Festival Plaza, the new Torrens Footbridge and the significantly expanded Adelaide Convention Centre."
South Australian Premier Jay Weatherill said SkyCity's decision to commit more than $300 million in transforming the Adelaide Casino will provide more than 1000 jobs to South Australians upon completion.
"This promises to be a world-class entertainment destination in what will be a world-class entertainment precinct," the Premier said, adding that it will be a jewel in the crown of the Riverbank precinct.
"A re-developed Adelaide Oval across the river connected by the new Torrens Footbridge, a new Festival Plaza, an expanded Convention Centre - all within minutes of the heart of Adelaide's CBD – the city will be a remarkably different place in the years to come," Mr Weatherill said.
Treasurer Jack Snelling said the investment will bring "the much need tourist dollar into Adelaide and South Australia", while adding that increased revenue generated from the premium gaming areas will also help the State Government invest in infrastructure and jobs.