SkyCity has seen Australia as a Mecca for building its casino operations after all the issues with government in New Zealand. It seems that when SkyCity wishes to make further enhancements in Australia, the government back them and support their ventures.
The latest venture to gain approval from our Aussie government is for a massive three hundred million Dollar development on their Adelaide casino. This development is a huge undertaking that will hopefully build the casino into the one place VIP customers wish to play.
Every manner of the casino will undergo an overhaul, especially the casino’s hotel. The hotel will be renovated and revamped beyond recognition to make it a 6 star attraction that will lure the most influential and rich casino players from far and wide.
To support this venture the Aussie government has given SkyCity some incentives in the form of tax support. The tax support will see SkyCity dropping 24% tax off revenues from their VIP customers, this will mean a tax of only 10.9%. SkyCity doesn’t get it all though as the general floor taxes will rise to compensate, something that SkyCity isn’t too bothered about as their play is to make the casino a totally VIP affair anyway according to the CE Nigel Morrison who said: “I hope it becomes all premium. I hope we don’t have any main floor gaming,”
The On top of the tax breaks there is also talk that the casino will be able to increase its pokie numbers by just over 500 to allow 2500 pokies in the casino, another reason SkyCity is happy. Even if the casino cannot get the licences from elsewhere, they will be able to purchase them from the government.
As part of this move SkyCity signed a 23 year contract.