SKYCITY Entertainment has committed to a $330 million expansion of the Adelaide Casino within the Festival Plaza precinct, which forms the final component of the transformation of the neglected space into a world-class destination in the heart of the Adelaide Riverbank's entertainment precinct.
SKYCITY's development will include a boutique hotel, new signature restaurants, bars and cafes, a rooftop bar and function spaces for up to 750 people for conferences or events. The number of hotel rooms in the development has been increased from 89 to 123, which will add an additional level to the plans for the expanded building.
The development will be a key feature in the Festival Plaza redevelopment, which also includes a $500 million investment by Walker Corporation for a new commercial and retail development and a $180 million State Government investment in a new plaza and refurbishment of the Adelaide Festival Centre.
The Walker development is due to get underway later this year and will include a 40,000-square metre office tower, a new underground public carpark and a retail precinct. Construction on the expansion of the Adelaide Casino will begin in early 2018 and is expected to be completed in 2020.
Housing and Urban Development Minister Stephen Mullighan said the projects have involved a complex set of negotiations between the key parties – SKYCITY and Walker Corporation – as well as other precinct stakeholders like the Festival Centre and the InterContinental Hotel.
"The Festival Plaza will become a landmark site in the heart of Adelaide's Riverbank Precinct, bringing together all of the precinct's icon sites such as the Adelaide Oval, the Festival Centre, the Convention Centre and the Riverbank Bridge," Mr Mullighan said.
"The upgraded Festival Plaza will become a unique world-class hub for the arts, culture, tourism and entertainment. It will feature key sites including a new square, the northern promenade, and the Art Space Plaza, better integration with King William Street and a new entry to Adelaide Railway Station.
"Once complete, the Festival Plaza will add to Adelaide's reputation as one of the world's most liveable cities, building upon our investments in the Adelaide Riverbank as well as progressive reforms such as rejuvenated laneways and unique small bars."