Revenues up 24 percent in 2015
New Zealand casino operator SkyCity Entertainment has received permission from the state Development Assessment Commission to proceed with a planned AU$300 million (US$215 million) renovation of its Adelaide Casino. The expansion is expected to draw more international patrons and domestic visitors as well as add new jobs and inject new energy in the local market.
SkyCity acquired Adelaide Casino—the only licensed casino in South Australia—in 2000. That’s when a new licensing regime eliminated the separation of operator and licensee roles and provided for the granting of a sole gaming license for the state, according to the website Yogonet.com. The license is held by the state-owned Lotteries Commission.
In 2015, the casino inside the Adelaide railway station saw revenues increase 24 percent and earnings jump 77 percent to $14.7 million. SkyCity CEO Nigel Morrison says he’s hoping to draw more high rollers from China and Southeast Asia.
“This development will help transform Station Road into a true entertainment precinct, said Morrison. “SkyCity’s investment will create much-needed jobs and economic growth for South Australia and complement the redevelopment Adelaide Oval and the new and expanded Adelaide Convention Centre.”
The expansion will add an 80-room hotel, new gaming areas and new food and beverage options. The project is expected to create an additional 500 temporary and 1,000 permanent jobs.
