At its annual shareholder meeting in Auckland, chief executive Nigel Morrison said the major expansion of Adelaide Casino was ''one step closer''.
''Our Adelaide Casino development will help South Australia attract a greater share of high-value international visitors, particularly from China and Southeast Asia,'' he said.
Mr Morrison said that in the first four months of trading, strong growth in the casino's international business, together with the success of its two ''signature'' restaurants, helped increase normalised revenue by 24.4% to $A70.3 million on a year earlier.
Significant progress had also been made on addressing the cost structure of the Adelaide operations in recent months.
Normalised earnings before interest, tax, depreciation and amortisation of $A14.7million was up 77.2% on last year. The casino development plans included renderings of the proposed plaza and interiors of the new luxury, all-suite hotel. Its construction includes an 80-room luxury hotel, overlooking the Torrens River, premium and international VIP gaming spaces, additional signature restaurants with ''renowned'' chefs, a boutique, pool and gym.
Forsyth Barr broker Suzanne Kinnaird said the latest casino design was ''similar'' to earlier proposals and the timing ''remains uncertain'', but SKC expected groundwork would be under way by the middle of next year.
She noted SKC was still looking for a potential capital partner to build the hotel, and was selling its Federal St car park in Auckland to raise money. She said it was pleasing the international business across all properties (Auckland, Hamilton, Queenstown, Adelaide and Darwin) was up, with group turnover rising by 51%.
Mr Morrison said the lack of car parking was still a key challenge for the Adelaide business, but this would soon be resolved with SKC agreeing to lease 750 car spaces of the 1500 parks being developed by the Walker Corporation.
