SkyCity Group has confirmed today that it will go ahead with the $330m expansion of its Adelaide Casino.

After years of negotiations, the Australian and New Zealand casino operator has finally signed a development agreement with the South Australian government, which will allow it to begin construction as early as 2018.

SkyCity plans to add an opulent 123-room hotel to the complex, along with VIP gaming areas, new bars and three new restaurants. As much as 1,100 electronic gaming machines are expected to feature along with 140 gaming tables – 30 of which will be devoted to IB activity.

Estimations predict the project will create up to 1000 construction jobs and 800 ongoing positions.

“I’m delighted SkyCity will play a major role in what will be an amazing rejuvenation of the Riverbank Precinct, while also creating jobs and economic growth for South Australia,” said Chief Executive Graeme Stephens in a statement.

“The redevelopment also secures SkyCity’s position in the heart of Adelaide’s entertainment precinct.”

South Australian Premier Jay Weatherill was another one to express his approval at the project going ahead: “We look forward to offering both locals and tourists the opportunity to enjoy a world-class entertainment precinct.”