Sky City Entertainment is investing $250 million in its Adelaide casino, as part of a major upgrade of the city's riverfront precinct.
The casino operator is in negotiations with the South Australian state government to expand its offerings there, including a host of new bars and restaurants and gaming facilities.
Earnings at the Adelaide Casino increased more than 7% to $A31.5 million in the year ending June. Earnings have grown 24% over the last two years.
Shares in Sky City fell 4 cents to $2.87 after the announcement on Monday morning.