New Zealand casino operator SkyCity Entertainment Group has confirmed that a $330m upgrade to its Adelaide Casino will start next year.
The final plans are $30m more expensive with more hotel rooms and 30 per cent more gaming but no more pokie machines.
SkyCity announced to the New Zealand Stock Exchange (NSX) that it has reached a development agreement with the State Government for the upgrade. There will be a 30 per cent increase in gaming product post expansion, but with flexibility to increase over time if required.
The operator said: “SkyCity is committed to proceeding with the expansion project in Adelaide following the signing a Development Agreement with the SA Government. The design for the expansion has been finalised. It includes additional hotel rooms, new function spaces, a rooftop bar & restaurant, and works to integrate the expansion with the existing property and operations. The total project costs have increased to A$330m. We remain confident in the investment thesis for Adelaide, supported by regulatory concessions agreed with the SA Government. Our project represents a significant investment in the future of Adelaide and the revitalisation of the Riverbank precinct. A key value driver of the project is the significant expected increase in gaming activity, especially from growth in market share.”
A boutique all-suite hotel will offer 123 rooms with additional signature restaurants and bars and cafes including a rooftop bar.
SkyCity Entertainment Chief Executive Graeme Stephens said: “We believe there is demand for more quality hotel rooms in Adelaide from both domestic and international visitors. This provides a better-balanced product while also helping South Australia realise its full potential as a premium tourist destination.”
The casino will be allowed up to 1,500 EGMs, of which 1,100 will be available post expansion. It have up to 200 tables, of which 140 (including 30 tables for IB) will be available post expansion, and up to 300 ATGs (interchangeable with tables at a ratio of 20:1), of which 100 will be available post expansion. TITO will be installed on premium EGMs (cashless gaming across casino). There will be unlimited max bet and jackpots. The operator will be allowed to invite up to 1,000 prospective customers to qualify in premium rooms.
The threshold to qualify for the high-roller salons will be lowered with VIP customers given an ‘increased number’ of guest passes to the VIP rooms.
Adelaide Casino General Manager Luke Walker said: “The discussion with the State Government revolved around the ability to attract interstate and international customers. There’s been a slight relaxation to our premium rooms to facilitate that.”