Casino Will Be Seat of Adelaide Entertainment
It is the second year of profit for the Adelaide Casino. The recently released figures signal continued employment and government earnings.
The Adelaide Casino's owner, the Skycity Entertainment Group, said the 2010 profit merely grew by seven percent even with a slightly lower revenue than last year. At present, profits have reached $129 million.
Adelaide Casino, South Australia's only casino, is the city's tenth largest employer. Over 1,000 people are employed in the casino found in Adelaide's historic Railway Station building. The employment injects around $30 million into the State each year.
The State government and casino management continue with confidential talks on the relocation site of the casino. Discussion have centered on the development of the Torrens Lake area into a major tourist and entertainment hub.
Casino management first eyed the railway site for its $200 million development. The 2001 original plans for a casino complex included a 22-storey hotel and 240 apartments. Government rejected the same plan again in 2006.
In 2008, management put aside its $30 million underground car park project upon learning of government redevelopment plans for the area. Relocating the casino would open the western railyards for improvement.
The casino pays approximately $19 million in taxes each year.