Sky City Reaches an Agreement with Aussie Government
Sky City has announced its plans to expand the Adelaide Casino as well as the Riverbank Precinct last year. The negotiations with the Aussie government have been going for quite some time, and finally, the planned expansion of these premises have gained the green light by the SA (South Australian) Government. This green light has been given following the agreement that was signed by the Sky City Entertainment group. According to the operator’s provided information, the expansion works is expected to begin in the 2nd half this year.
Sky City Entertainment group, which is one of the biggest gaming groups in Australia, has made a press release. Through this release, the casino group has stated that the first stages of this expansion are going to include modifications to the existing Festival Drive, grade leveling and finally, structural works that include piling. In addition, there are going to be some adjustments to the current loading docks and adding a temporary pedestrian entrance as well as signage works. There are also some existing services that will get relocated. According to reports, the funds for these early stages of the works are going to be covered by both, the South Aussie government and Sky City Entertainment.
Although the Aussie government and Sky City Group have reached a deal, this does not mark the end of the negotiations between the two sides. This is because there are still plenty of different regulatory and legal agreements that they need to be reached, especially when it comes to the Adelaide gaming property expansion.
The Interim CEO of Sky City Group, John Mortensen, has commented on this new agreement and has pointed out that this deal is a great and was an essential step towards the completion of the expansion plans of the casino. He also promised that this expansion and the work that will be done is going to have great rejuvenation effects on the area and that there are many expectations that it would result in boosting the tourism industry as it will attract many high profile visitors to the area of South Australia.
The plans for that major expansion were announced by the sky City Entertainment group back in 2015, and it was revealed that this expansion is going to be worth 300 million dollars. The plans showed that the group is aiming to turn the existing property to a world class gambling destination where the high-end visitors will be able to find signature restaurants, a luxurious hotel as well as many new VIP gaming lounges.
In other separate news, the government of South Australia has reached an agreement with the Walker Corporation regarding the Festival Plaza development. The company has given its confirmation that the project is going to include a car park construction, an office building as well as a retail precinct, all of which should be constructed in the upcoming 3 years.