SKYCITY Entertainment Group Limited (ASX:SKC, NZE:SKC) is gearing up to invest more than $300 million to transform the Adelaide Casino after scoring the green light from South Australia's parliament.
The dual listed casino operator says the state parliament passed legislation yesterday to extend the company’s exclusive licence by 20 years to 2035.
South Australia's legislators will also allow SkyCity to introduce cashless gaming, lower gaming taxes for VIP gambling and boost poker machines and gaming tables.
SkyCity says the Adelaide Casino revamp will create a world-class integrated entertainment complex including Adelaide's first six-star boutique hotel, celebrity and signature restaurants and VIP gaming experiences.
SKYCITY Entertainment Group reported a net profit of $52.7 million in the first half of the 2013 financial year.
