25 March 2011

SKYCITY Chief Executive Officer Nigel Morrison and Chairman Rod McGeoch AM have pledged their support for the redevelopment of Adelaide's Riverbank Precinct in front of some of Adelaide's business elite at today's Advantage SA Foundation Exclusive lunch held at North restaurant.

The pair highlighted the integral role Adelaide Casino, and its planned redevelopment, had as part of the broader vision for the Riverbank Precinct.

"Adelaide Casino is one of several major tourist destinations that calls the Riverbank Precinct its home and we are excited by the opportunity to develop the Casino into a venue that will help revitalise the city fringe and bring a renewed life and vibrancy to the area," Mr. Morrison said.

"With plans to extend the building towards the riverfront, it creates so many opportunities to become more of a tourist destination, as well as a place South Australians will equally be able to enjoy.

"Just look at the Melbourne Southbank precinct - what was an industrial wasteland was transformed by the development of the casino and was quickly followed by a convention centre and exhibition centre, as well as restaurants, cafés, retail, hotels and so much more. This demonstrates what a fantastic catalyst the Adelaide's Riverbank Precinct project can be for capital expenditure and development across the whole city."

Adelaide Casino plans to extend its current site towards the riverfront, featuring new and expanded gaming facilities including private gaming areas; dedicated car parking; and the creation of exciting new bars, restaurants and entertainment facilities.

"Naturally, the redevelopment of Adelaide Casino is still subject to a range of necessary approvals. We want a level playing field, from a regulatory perspective, so Adelaide can compete with casinos in Melbourne, Sydney and Brisbane," Mr. Morrison said.

Owned by the SKYCITY Entertainment Group, the Adelaide Casino would become a true world-class integrated entertainment facility, allowing it to compete on an equal footing with other casinos across the country, as well delivering increased opportunities to derive income for SA from both interstate visitors and high value international players.

Mr. McGeoch said the SKYCITY Entertainment Group would invest $AUD250 million to expand and upgrade its current North Terrace site, as part of a broader vision to revitalise the Riverbank Precinct.

"Adelaide Casino is already one of Adelaide's largest private employers, and the proposed developments will provide more jobs in hospitality, entertainment and tourism for South Australians, as well as in the building phase of the project," Mr McGeoch said.

"We believe the Adelaide Casino has great potential and SKYCITY is keen to work with the South Australian Government to deliver increased tourism, jobs and economic growth for the state."

To view Adelaide Casino's preliminary conceptual vision of the Riverbank Precinct redevelopment, please see the video below.