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Under the terms of the ALA, Skycity is committed to expanding the Adelaide Casino and developing a six
star boutique hotel adjoining the Adelaide Casino by June 2019 (unless otherwise extended by agreement
with the South Australian government).
So Skycity basically have an escape clause in the agreement which they could be used to extend and extend.ghs wrote:Found this on one of Skycitys' recent announcements :
Under the terms of the ALA, Skycity is committed to expanding the Adelaide Casino and developing a six
star boutique hotel adjoining the Adelaide Casino by June 2019 (unless otherwise extended by agreement
with the South Australian government).
Are you sure that doesn't mean they have to reach agreement with the government on a time extension?ml69 wrote:So Skycity basically have an escape clause in the agreement which they could be used to extend and extend.ghs wrote:Found this on one of Skycitys' recent announcements :
Under the terms of the ALA, Skycity is committed to expanding the Adelaide Casino and developing a six
star boutique hotel adjoining the Adelaide Casino by June 2019 (unless otherwise extended by agreement
with the South Australian government).
SA government totally stuffed up on the casino licence. They should have put the casino licence out to limited tender like the Qld government did with the Brisbane Casino.
Push to build second casino in SA if SkyCity expansion fails
This story was published: 16 hours ago September 10, 2015 8:29PM
A SECOND casino should be allowed to operate in South Australia if SkyCity ditches its multi-million dollar expansion, a State Government MP says.
Labor backbencher Chris Picton said SA could be home to a second, “boutique” casino and that the existing casino was “decaying” and “will stick out like a sore thumb” on the redeveloped riverbank.
His comments come just weeks after The Advertiser revealed the State Government had drawn up contingency plans in case Adelaide Casino abandoned its expansion.
But in a statement, Deputy Premier John Rau appeared more positive about the future of the project.
“Our discussions with the casino are proceeding and I don’t believe the matters Mr Picton raises will need to be considered,” he said.
In 2013, the Government gave SkyCity a monopoly licence to run the only casino in Adelaide until 2035.
“This was granted at a time in 2012 when SkyCity promised a $300 million expansion that would create jobs, draw in tourists and enhance the Riverbank upgrade,” Mr Picton said.
“Almost three years later and the expansion plans haven’t progressed. If Skycity are not going to start their expansion as promised then I believe we should review their 20 year monopoly guarantee.
“If no casino expansion goes ahead we should be open to other casino developers who might want to develop a boutique casino in SA.”
‘Build a second casino if SkyCity dumps expansion’
Mr Picton said that a second casino could attract high-roller international tourists and suggested the Barossa Valley or Kangaroo Island as potential locations.
“If SkyCity are not willing to make a decision to invest, then SA should open itself up for other investment, jobs and revenue that might come about through a second VIP casino licence,” he said.
“NSW recently approved a second casino being developed in Sydney by James Packer. It will be only for VIP clients and will not include pokies.
“I’m very worried about the impact of gambling on our vulnerable communities — but the issue is the proliferation of pokies and online gambling, not high rollers.
Last month, SkyCity reported its Adelaide casino had delivered a “disappointing” result for the financial year.
“SkyCity continues to review the concept design and development costs to ensure the project best meets the future requirements of the South Australian market,” it said at the time.
Mr Picton said he welcomed the recent upgrade that included “two great new restaurants” but that few people were lured inside.
“This Government is building a world class precinct on our Riverbank. The new Adelaide Oval,
new footbridge, new plaza development and upgraded Festival Centre,” he said.
“What will stick out like a sore thumb is the decaying Adelaide Casino. All the glitz and glamour it had when it opened in the 1980s has gone. Pokies, shorts and T-shirts now reign supreme.”
you would assume the purchaser of a casino wouldn't be that stupid to be perfectly honest.Wayno wrote:Friend of mine works at the Casino and the grape vine says Sky City is getting things in order for a sale.
They've recently trimmed back staff numbers to below trend which makes 'running the business' appear more profitable to potential buyers...
Are SkyCity allowed to just sell their government granted monopoly license? Surely a new operator would have to get the government's go ahead.Wayno wrote:Friend of mine works at the Casino and the grape vine says Sky City is getting things in order for a sale.
They've recently trimmed back staff numbers to below trend which makes 'running the business' appear more profitable to potential buyers...
They wouldn't build it just sell it with the approval to increase the value.Smithy85 wrote:$300m seems like an awful lot of money to spend on a business/location that you are about to sell..
I agree, I think unless there are pipeline plans to move the casino to the site of the InterContinental the casino needs to be relocated from the precinct altogether.Nathan wrote:My issue is how close it gets to the Festival Centre's Drama Centre. It blocks site lines from KWS and the space between the two is very cramped. Needs some room to breathe. Trimming the north east corner in may help both issues.