The Sydney Entertainment Centre will be demolished and the Convention and Exhibition Centre at Darling Harbour closed for up to three years as the precinct undergoes a $1 billion makeover.
A new fully integrated convention centre will be built and will increase the size of the existing precinct by two-thirds to 20 hectares and will include the largest exhibition space in Australia at 40,000 square metres.
The 30-year-old Sydney Entertainment Centre is to be demolished while the exhibition and convention facilities will be closed from late 2013 to late 2016.
The new facilities will include the biggest meeting room space in Australia at 6000sq m and the biggest Australian convention hall capacity.
There will be a red-carpet premium entertainment facility with a capacity of at least 8000 people, suitable for international entertainment events and 'mega' conferences.
Sydney Olympic Park including Allphones Arena, Moore Park, the Australian Technology Park at Eveleigh and various Sydney hotels will play an expanded role in hosting events during the construction period.
The Sydney Kings haven't announced where they'll play their NBL games during the construction period however the Sydney Olympic Park Sports Centre at Homebush is one likely option.