Tuesday 2nd December 2003
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The first stage of the plan, proposed over three years, involves the development of street-front food and beverage outlets, a new bistro-style restaurant, a cocktail bar featuring live entertainment, an upmarket North Terrace bar, private function facilities, and new gaming areas.
Stages two and three of the proposal involve a potential further investment of A$50 million. Final decisions regarding the extent of investment are conditional on a range of factors including customer response to stage one, economic conditions and developments in what remains an uncertain regulatory environment.
Skycity general manager operations Greg Hawkins said the investment was further proof of the company's commitment to South Australia and its belief in the state's economic momentum and growing tourism industry.
"We expect the redevelopment to establish Skycity as a premier landmark in Adelaide and to attract a new wave of customers - not just from interstate and overseas, but local people drawn by the broad range of entertainment we will be able to offer," he said.
Skycity has invested more than A$20m in upgrading the property's facilities since int acquired it in 2000.
Should the full three-year investment proceed, it would provide a major boost to employment in South Australia, creating 480 direct jobs during the construction phase and adding more than 235 permanent staff to the company's payroll.
Construction of stage one of the redevelopment is scheduled to begin in December 2003 and be fully operational by December 2004.
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