Adelaide Casino Strikes Car Spaces Deal with Festival Plaza Developer
The redevelopment of Adelaide Casino in South Australia has moved one step closer to beginning after the owner SKYCITY Entertainment Group made a deal with the developer of the Festival Plaza for parking spaces.
According to The Advertiser, Lang Walker, the developer of the $500 million Festival Plaza has a agreed to lease 750 of the vital parking spaces in the 1560-space Festival Centre carpark to Adelaide Casino.
This deal is expected to trigger the much-awaited carpark and Festival Plaza project. The $300 million Adelaide Casino redevelopment and expansion is part of the greater Festival Plaza project. The parking issue was one of the biggest hurdles facing the venue.
However, the VIP gaming rooms in the casino have become a sticking point between the operator and the state government. Under regulations in South Australia, casino players undergo heavier scrutiny than anywhere else in Australia and SKYCITY is demanding that the state government abandon scrutiny of its VIP rooms, claiming this higher level of inspection may make its gaming rooms less attractive to high rollers who often want to maintain a lower profile. It has requested that the government leave the casino free to manage its high rollers and loyalty programs as it sees fit.
Upgrades to the Adelaide Festival Centre have already begun and construction of the underground parking area is expected to begin around mid-2017 to be completed around a year later, during 2018. The Centre will be fully closed for a minimum six month period later this year while essential structural work is undertaken.
The casino upgrades will include an 11-storey building with an 80-room luxury hotel, restaurants and a number of premium gaming areas. The upgrades are expected to be completed by late 2019 or early 2020.
March 30, 2017