THE South Australian Government last week announced that it has signed an agreement with SKYCITY Entertainment Group that paves the way for a $350 million expansion to the Adelaide Casino, beginning with a $40 million investment in its current facilities.
According to the government, the agreement allows Adelaide Casino to expand its gaming operations and include new premium gaming areas. The agreement also extends Adelaide Casino's exclusivity in South Australia until 2035, provides for a new taxation regime and includes the strongest responsible gambling measures applied to any casino in Australia.
Deputy Premier John Rau said the agreement is an important milestone for the Adelaide Casino and the Greater Riverbank Precinct, adding that it provides the basis for Adelaide Casino to become a world class gaming and entertainment destination.
Mr Rau described the new taxation regime as a good deal for South Australian taxpayers, while adding that the responsible gambling measures "puts the Adelaide Casino at the front of the pack nationally" and more than three years ahead of Commonwealth responsible gambling reforms.
The responsible gambling measures include the introduction of voluntary pre-commitment and risk monitoring technologies. The Casino will also provide an indexed amount of $300,000 per year for gambling rehabilitation programs.
"Importantly, the agreement means that Adelaide Casino can now proceed with developing further plans for their expansion, which will make it a key destination along the Greater Riverbank Precinct," Mr Rau said.
The initial investment will involve SKYCITY investing almost $40 million in refurbishing its current facilities, including the creation of new premium gaming areas, and purchasing new gaming equipment and technology, which is expected to occur over the next 12 months.
The finalisation of the agreement allows the Adelaide Casino to operate 1,500 gaming machines, up from 995, and 200 table games, up from 90 and where 15 such tables may be substituted for 300 automated table game terminals.