The Star Plans $2 Billion Gold Coast Complex
The Star Entertainment Group and their Hong Kong partners, Chow Tai Fook and Far East Consortium, are planning a development for their Jupiter’s Casino site on the Gold Coast which will be even bigger than their Queens Wharf development in Brisbane. Their $2 billion plan will include up to five towers, including hotels and residential apartments.
Construction is expected to begin in 2017 with the first tower which proposes to include 350 apartments and 700 4.5-star hotel rooms. Depending on the demand for the first tower, an additional four towers may be built at two-year intervals.
The Star is currently trying to determine the best mix of hotel brands to attract Asian tourism and they are in discussions with Chinese tourism operators, including China Travel Service.
“For subsequent towers we will look at the mix of customers we are getting and where we see demand by 2018 to determine the brands, but there will be nothing under 4.5 stars,” said chief executive of The Star, Matt Bekier.
The Star plans to outlay $100 million for improvements to the casino floor over the next four years, in addition to new restaurants and a sports theatre. This proposal is on top of the $345 million redevelopment planned for Jupiter’s Casino which will refurbish the existing 600 hotel rooms and add a six-star hotel tower with 50 luxury suites.
Mr Bekier has said that the company’s development on the Gold Coast should be seen as a “complementary investment” to the one in Brisbane. Queens Wharf is less than an hours drive north of Brisbane and The Star appears to be attempting to make its mark on the Gold Coast casino market ahead of a proposed casino resort development by ASF Consortium close by at The Spit.
April 16, 2017