Ann: GENERAL: SKC: SKYCITY Adelaide Casino - enab

• Release Date: 26/07/13 10:43
• Summary: GENERAL: SKC: SKYCITY Adelaide Casino - enabling legislation update
• Price Sensitive: No
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SKC
26/07/2013 08:43
GENERAL

REL: 0843 HRS SKYCITY Entertainment Group Limited (NS)

GENERAL: SKC: SKYCITY Adelaide Casino - enabling legislation update

South Australian Parliament passes enabling legislation for SKYCITY to
transform its Adelaide Casino into a world class integrated entertainment
complex

SKYCITY Entertainment Group Limited today welcomed the passing of the Statute
Amendment (Gambling Reform) Act 2013 by the South Australian Parliament.

"This enabling legislation will allow SKYCITY to conclude its agreement with
the South Australian Government regarding the future regulatory, taxation and
exclusivity framework facilitating the transformation of SKYCITY's Adelaide
Casino into a truly world-class integrated entertainment complex," SKYCITY
Chief Executive Nigel Morrison says.

The Act, which passed through Parliament yesterday, amends the Casino Act
1997. It provides the legislative changes necessary for SKYCITY and the South
Australian Government to execute a new Approved Licensing Agreement (ALA) and
Casino Duty Agreement (CDA) on the terms previously agreed and announced on
19 December 2012.

The key terms included:

oAn extension of 20 years to the South Australian casino exclusivity for
Adelaide Casino to 2035;
oIntroduction of cashless gaming and Ticket-in Ticket-out;
oLower gaming tax rates for VIP gaming;
oAn increase in the number of gaming machines to 1,500;
oAn increase in the number of gaming tables to 200, where 15 such tables may
be substituted for 300 automated table game terminals

"SKYCITY will invest over A$300 million to transform the Adelaide Casino into
a world-class integrated entertainment complex which will include Adelaide's
first 6 star boutique hotel, celebrity and signature restaurants, world-class
VIP gaming experiences with 'Horizon' international suites with adjoining
private gaming salons, all as part of the new entertainment precinct on the
banks of the River Torrens.

"Integrated entertainment complexes, with a comprehensive range of offerings
including luxurious VIP facilities with outstanding dining experiences are
vital to attracting high end Asian, particularly Chinese tourists. Our
development will help South Australia attract a greater share of this
lucrative and growing market. With Adelaide's outstanding wineries and
leading international golf courses we are very confident that we will be able
to package one of the best VIP experiences available in Australia," says Mr
Morrison.

"SKYCITY's investment will create much needed jobs and economic growth for
South Australia and complement the redeveloped Adelaide Oval and the new and
expanded Adelaide Convention Centre.

 "We are pleased that the legislation has now been passed and that the casino
reforms facilitating the redevelopment of the Adelaide Casino were strongly
supported by both sides of Parliament. We now look forward to promptly
finalising the ALA and CDA agreements with the Government and commencing this
exciting redevelopment," says Mr Morrison.

For further information please contact:

Media:
Kelly Armitage
Senior Communications Advisor
DDI: +64 9 363 6084
Mobile: +64 27 213 5625
E-mail: [email protected]

Investors:
Aaron Morrison
GM Business Development and Investor Relations
DDI +61 8 8218 4145
E-mail:  [email protected]

James Burrell
Chief Financial Officer
DDI +64 9 363 6047
E-mail:  [email protected]
End CA:00238999 For:SKC    Type:GENERAL    Time:2013-07-26 08:43:22