The Welsh Development Agency (WDA) has agreed a £50m deal that could bring a multiplex cinema, bowling centre and a casino to the Swansea waterfront.

According to initial plans, building work at the Prince of Wales Dock at SA1 would take around two years and the facility is expected to open by summer 2006.

The plans also include a 14-storey residential tower and a number of bar and restaurant units with river views.

WDA’s partners, Discovery Properties and City Loft Groups, will now take control of the finalisation of the plans, designed by architects, HMA.

Steve Piper, WDA, said: “SA1 is an important development for the whole of Swansea, which has attracted a huge amount of private investment into the area.

“The Discovery proposals for SA1 will go a long way towards creating the first class living, working and laying environment we envisaged.”