The planned expansion of the Adelaide Casino and the Riverbank Precinct has been given the green light by the South Australian Government after an agreement was signed with the owner SkyCity Entertainment Group. According to the information provided by the operator, the work is expected to start in the second half of 2016.
In a press release by the gaming group, it was announced that the early stages of the expansion include grade leveling, modifications to the Festival Drive and structural piling. Additionally, there would be adjustments to loading docks as well as an addition of a temporary pedestrian access plus signage. Some existing services are going to be relocated too. The funds for the early works, as reported, are going to be covered by SkyCity and the South Australian Government.
However, this deal isn’t the end for the negotiations between the two parties since there are various legal and regulatory agreements that have to be made as well when it comes to the expansion of the Adelaide gaming property.
John Mortensen, SkyCity Interim CEO, commented on the agreement by pointing it out as an important step towards completing the planned expansion of the casino. He promised that the work would be “an amazing rejuvenation” of the area and expressed expectations for it to boost the tourism industry by attracting “high profile visitors to South Australia.”
SKyCity revealed plans for the major expansion worth $300 million back in November, 2015. The group wants to turn the property into a world-class destination where visitors will find signature restaurants, a luxurious boutique hotel and brand new VIP gaming salons.
In a separate event, the South Australian Government also managed to come to an agreement with Walker Corporation for the development of Festival Plaza. The company confirmed that its project includes a construction of a car park, one office building and a retail precinct within the following three years.