[COM] Adelaide Convention Centre - Stage 3 | $350m

[peas_and_corn]

A 360 seat theatre and a 1640 space carpark?

[omada]

Really looking forward to the 4 level carpark! And in such a great location too. sorry, yes cynical, I guess that's the onty way to get private investors on board.

[Xaragmata]

From Monday

[Matt]

Wow, on the move.

[Waewick]

good to see they aren't taking their time!

[claybro]

Not sure if this is the right place for this, but has there been any plan to upgrade Memorial Drive Tennis complex? There have been reports in the Advertiser this week that the 36ers basketball team has had trouble extending the lease at the basketball stadium in beverly. The state government has stepped in to lean on the Com Bank (owner of the basketball stadium by reposession) to allow the 36ers to continue playing there. The purpose of my post is to suggest perhaps the gov could buy the baksetball stadium at beverly (it is in a shocking location), sell the land to developers, use the funds to upgrade Memorial Drive into a combined indoor tennis and basketbal stadium, complimenting the developement of the riverbank and Adelaide Oval area. The 36ers draw around 5000 to each home game, which would be a boon to the new riverbank cafes etc with Sunday games and weeknights etc.

[crawf]

Off topic but I don't understand why the basketball can't be moved to the Adelaide Entertainment Centre. It's a much better location, more capacity and accessible by all modes of public transport.

The new Perth Arena is going to hold both basketball and major events, so there is no reason why the AEC can't do the same.

[dsriggs]

Off topic...

You're right!

[Ben]

Thursday, 16 August 2012
Govt approves Casino tax pitch

INDAILY EXCLUSIVE

Kevin Naughton


THE State Government has approved the drawing up of a formal tax pitch to Adelaide’s SKYCITY Casino and an announcement appears imminent.

The Casino operator has been negotiating with State Government officials for a cut in gaming machine tax rates since March 2011 when it first unveiled plans to redevelop its Adelaide operation.

Again this week, SKYCITY emphasised that a mooted multi-million-dollar redevelopment of its Adelaide casino was dependent on tax concessions.

Treasurer Jack Snelling yesterday told Indaily that an agreement document was being drafted for SKYCITY’s consideration.

“Significant progress has been made and Cabinet has given approval for agreements to be drawn up for SKYCITY to look at,” Snelling said.

“We will continue the negotiations between the Casino Taskforce and SKYCITY in relation to this.”

The prospect of further concessions to the Casino – which operates more than 970 poker machines – is being monitored closely by the Australian Hotels Association (AHA).

“The Casino already gets a good deal,” AHA CEO Ian Horne said.

“If you look at the last State Budget, it says $18 million has been foregone in state taxes already due to concessions given to the Casino.

“It also has other advantages over hotels because it operates under different legislation and can promote its gaming in ways that we can’t.

“Whilst they can mount an argument that they pay higher taxes than interstate casinos, we also pay higher taxes than pubs and clubs interstate.”

Horne said SKYCITY’S recent annual report shows that the Casino has taken an extra 8 per cent market share in the state’s electronic gaming business.

The SKYCITY report also repeated the company’s position that its proposed $250 million redevelopment of its North Terrace property was dependent on tax concessions.

“SKYCITY is continuing its discussions with the South Australian Government‘s Casino Task Force regarding the future taxation and regulatory framework for the Adelaide Casino,” says the report, released to the stock exchange yesterday.

“Once this has been determined, SKYCITY can then decide how to best progress its plans for the redevelopment and transformation of the Adelaide Casino.”

In March last year, SKYCITY’S chairman Rod McGeoch laid down the challenge to State Government officials when he questioned why SA’s gambling taxes were so high.

“In Darwin we pay 20 per cent. In other states the rate varies from 17 per cent to 25 per cent,” Mr McGeoch said.

“In South Australia it’s 43.5 per cent.

“It’s not a level playing field and when we assess this $250 million expansion project, our board needs to be convinced that it provides value for money compared to other projects under consideration.

“The expansion is contingent on there being a level playing field.”

Ian Horne said the argument doesn’t sit well with his members.

“Hotels and clubs all round South Australia provide valuable infrastructure,” he said.

“There are two large premises, in Bordertown for example, where they have spent plenty on infrastructure and they’re doing it tough due to increases in power bills and the like.

“Unlike the Casino, our members don’t have a monopoly – SKYCITY is the only operator of table gaming and has its own in-house Keno.

“If the government takes a North Terrace-centric view of where development should be, then they underestimate the value of hotels and clubs in every suburb and town in the state.”

[Mr Smith]

SKYCITY exists to extract as much coin from unsophisticated and/or addicted gamblers as possible. The results are well documented and the State/Fed Govt (read TAXPAYER) ends up picking up the tab in a lot of cases, viz depression, broken marriages, bankruptcy etc.

Do we really want to be blackmailed into reducing the tax take from this outfit, who's sole motivation for development is driven by pure naked greed to exploit the vulnerable, and yes unfortuantely, the STUPID.

[Waewick]

yes, yes we do

[mrblackrooster]

+1

[Wayno]

Will be interested to hear the other side of the equation. They get tax cuts, and we get <insert benefit here>

[Waewick]

Will be interested to hear the other side of the equation. They get tax cuts, and we get <insert benefit here>

a big new building ?

[crawf]

A casino that doesn't resemble a large RSL?