This article originally appeared on FourFour Two.
Read moreThe casino has not yet revealed exactly how much it’s paid for the land, but it has said it will provide “financial assistance” to the property owner.
The company has not said what it expects the land will be worth.
It said it is also exploring the possibility of selling the property.
“The baccarelli resort will be a premier destination in the city, and it will bring much-needed investment to the area,” it said.
“Baccarat is a popular venue for many international entertainment events, with several major events including the Olympic Games coming to the city.”
It is expected that the resort will draw international and local business to the City of Adelaide, and create many jobs for locals.
“The resort is a joint venture between Chinese and Malaysian investment group Lotte Group, which bought the land in 2013.
Lotte Group has been criticised for failing to live up to its promise to bring jobs and investment to Adelaide.”
We have been working hard with our partners in Lotte, to bring the resort to life, and we are confident that we have a great opportunity to create many more jobs and invest in the City, and for the community in general,” it wrote on Facebook in November.”
But at the same time, we are also concerned about the impact of the development on the environment and on the community.
“While we are working hard to build this wonderful resort, we understand that this will impact the environment, the residents and our guests, and that’s why we are going to work closely with our suppliers and stakeholders to make sure that the development is done in a way that is environmentally responsible and that we can protect the environment.”