The government of South Australia has granted the sought after SkyCity casino license extension, which will now see the venue retain a further twenty years of their exclusive license – until 2035. This amendment to the Casino Act in the state will also add more room for further developments, such as a $A 300 million expansion of the current complex.
As the land based venues attempts to compete more strongly with Australian online gambling, other additions to their services and facilities will include cashless gaming, ticket in ticket out technology (normally known in the industry as TITO), a lower gaming tax rate for VIP gambling, and an increase in their games. There will be around a thirty per cent increase in slot machines to one thousand five hundred, and the number of gaming tables will rise to two hundred. Analysts are saying that this license extension is more of a game changer for the company which owns the venue than their other recent deals, as it means that they will see no rivals in their area for twenty two years at least.
It is already being called “the jewel in the crown” by state government, and new additions are going to include a six star hotel, new restaurants, and new gaming facilities to house the latest games. Luxury VIP facilities “are vital to attracting high-end Asian, particularly Chinese tourists”, chief executive Nigel Morrison says in a statement. “Our development will help South Australia attract a greater share of this lucrative and growing market.”
“The Adelaide Casino under-performs many other casinos in Australia and New Zealand on a number of metrics, and what is proposed in Adelaide will level the playing field in a number of areas,” says Jeremy Simpson, an analyst with Forsyth Barr, who also adds that their major opportunity in Adelaide is to take control of the electronic gaming machine market – of which they currently have only an eight per cent share. Other improvements for SkyCity will include the chance to lift their maximum bet limits, their jackpots, and their cashless gaming transaction limits in VIP Premium rooms.
