Adelaide’s Casino renovations will be finished in January clearing the decks for owner SKYCITY to start work on its expansion, the company told investors at its annual general meeting today.
Chief Executive Nigel Morrison said the first quarter of the financial year has been pleasing for the company, and with several key projects entering development phases, FY15 promises to be a busy year for the business.
“We have started the year with strong momentum, with revenues across the group up by 6 per cent on the first quarter of FY14,’’ Morrison said.
“Our signature restaurants are performing strongly, with annualised revenues now in excess of $40 million and healthy margins.”
SKYCITY’s focus on branded restaurants has expanded into the Adelaide operation with the opening last week of Sean’s Kitchen.
A new French Vietnamese restaurant called Madam Hanoi with chef Nic Watt is scheduled to open in January.
“SKYCITY Adelaide has also experienced good revenue growth overall, up 4 per cent for the quarter, underpinned by a strong international business performance,” Morrison said.
“Domestically, Adelaide’s revenues continued to moderately contract as a result of the ongoing construction works but at a lesser rate, with September 2014 revenues now back at the levels they were at the same time last year.
“The redevelopment of Adelaide has continued apace, and is scheduled for completion by January 2015.
“We are excited about the developments being made in Adelaide and look forward to their completion – it is going to be an outstanding piece of tourism infrastructure for the city, its people and its visitors.”
SkyCity will invest more than $A300 million to build a six-star boutique hotel, celebrity and signature restaurants, VIP gaming areas and private gaming salons.
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