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SkyCity Reveals More About its Adelaide Casino Redevelopment
SkyCity Entertainment Group has revealed details of its much anticipated Adelaide Casino redevelopment, which is set to include Australia’s first brewery in a casino.
Casino Beats reports that the redevelopment, dubbed The District, is a “key pillar” of the group’s ongoing $330 million Adelaide transformation, which hopes to develop a “world class” integrated casino and entertainment precinct.
The District hopes to bring together all venues on level one in the current Heritage Building, incorporating a poker zone, sports bar, the Pirate Life microbrewery, live entertainment and bistro.
The District venue manager Jarrad Anderson said: “Aussies have always had a strong affiliation with good beer and places to drink it…live music, great food and watching sport is also part of our culture. Being able to find it all under one roof is our point of difference.”
The District at SkyCity will feature a mezzanine level, allowing increased capacity for live entertainment, where customers can enjoy Pirate Life beers tailor-made for the venue.
Pirate Life was founded in Adelaide in 2014 by Michael Cameron, Jack Cameron and Jared Proudfoot.
Proudfoot, Pirate Life co-founder and brewing director, said there’s a lot to be excited about as the first series of Pirate Life beers made exclusively for The District are introduced.
“Our first brew is the District Draught, brewed with Pale and Munich Malt, the District Draught is fresh, familiar and ready to session,” he commented.
“A hop free boil means ultra-low bitterness, with notes of citrus. It pours golden straw, with a generous pillow of foam. Expect aromas biscuit malt and nashi pear, with subtle notes of lime. The palate is malty, with a mild body and a clean, moreish finish.”
Other significant transformation works undertaken in the Heritage Building include repainting of the Marble Hall for the first time since the Adelaide Casino opened in 1985 and refurbishment and extension of the Baccarat Pavilion.
SkyCity Bullish Amid Better Than Expected Financial Figures
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SkyCity Entertainment Group has released its financial year results, with its result at the top end of its guidance range, despite the COVID-19 pandemic and fire to the New Zealand International Convention Centre in late 2019.
Kalkin Media reported in September that total reported revenue was up 36.8 per cent at the New Zealand based operator, however, normalised revenue fell 34.3 per cent, year-on-year.
Sky’s online casino witnessed substantial growth during the reporting period, with Sky share prices up almost four per cent on the back of their yearly results.
More than 35,000 customer registrations have been noted on SkyCity’s online casino, which has been delivering a positive EBITDA since April 2020.
SkyCity had a strong balance shot post the implementation of its funding plan, with it now in a position to withstand any additional downside shocks.
It’s Adelaide expansion is also reported to be well on track, expected to open in late 2020.
At its New Zealand properties, domestic businesses retrieved at a faster rate than expected between June 1 and August 11.
Positive local gaming activity was noted during the period, with Auckland returning to, and Hamilton beyond their pre-COVID-19 levels.
Electronic gaming machine performance was especially strong across Auckland and Hamilton, with significant improvement noted in operating margins.
Nearly 15,000 new customer registrations were noted at Sky’s online casino for the three months to 31 August, it said.
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Skycity Entertainment Group’s (ASX:SKC) Adelaide casino is no longer subject to a capacity limit of 100 people per venue as the South Australian government continues to ease lockdown restrictions implemented last month.
Initially a total capacity limit of 1000 patrons will be allowed across the gaming floor until the implementation of an approved COVID-19 management plan.
The Adelaide expansion development will also begin to open in a staged manner to the public.
The development includes new gaming areas, a new luxury hotel as well as bars and restaurants.
Yesterday shares in SkyCity (ASX:SKC) closed 0.3 per cent higher at $2.93.