Adelaide Casino gets green light for $330 million redevelopment
The plan for the project was first revealed 18 months ago, but has been held up as SkyCity has been in negotiations with the State Government and development company Walker Corporation regarding high roller regulations, car parking spaces and hotel upgrades. The final agreement has also been subject to other parties involved with the Riverbank Project, which aims to transform Adelaide’s Torrens Riverbank into a “must-see” destination.
This morning, SkyCity announced the approval of the casino redevelopment on the New Zealand Stock Exchange (NSX).
The $330 million redevelopment, which is $30 million over the original proposal, will include new bars (including a rooftop bar), restaurants, function spaces and 123 hotel rooms.
Adelaide Casino general manager Luke Walker said, “We’ve taken a fresh look at both our existing building and the design for the expansion. We’ve redesigned interiors, revitalised social, entertainment and gaming spaces, and relocated restaurants and bars.”
Construction of the revamped casino is expected to begin in the first quarter of 2018, after the public works at the Festival Plaza Precinct are completed at the end of this year.
The project is expected to create over 1,000 new construction jobs during the course of the redevelopment, followed by 800 permanent positions once the new casino opens.
The casino facelift is the final component of the Festival Plaza Precinct redevelopment, which includes an upgrade of the Adelaide Festival Theatre and surrounding upper promenades, plus the inclusion of a new underground car park, 40,000 square meter office tower and retail space.
SA Housing and Urban Development Minister Stephen Mullighan said, “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. The upgraded Festival Plaza will become a unique world-class hub for the arts, culture, tourism and entertainment.”
The upgraded Adelaide Casino is expected to open its doors in 2020.
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