The Star Entertainment Group plans to build a second tower at its Gold Coast site, in addition to the $345 million refurbishment of the Jupiters Hotel and Casino and the 17-storey luxury tower under construction.
The Star Entertainment, formerly known as Echo Entertainment Group, said that it had begun the planning process for the new 200m-high, 4.5 star hotel at the Gold Coast site.
The new tower, which will cost more than $500 million, will include 700 hotel rooms and apartments, bringing the casino and resort’s total room complement to almost 1400.
A live sports theatre is also part of the transformation, bringing the total investment under consideration to $850 million.
“Our commitment to the Gold Coast is unambiguous. We are already well advanced on transforming the property through the hotel refurbishment and new restaurants, and later this year when we rebrand to The Star Gold Coast, the new six-star all-suite tower will be rising out of the ground,” said The Star Entertainment CEO Matt Bekier.
The new development is a part of The Star Entertainment’s three-city push with its business partners Hong Kong-based Chow Tai Fook Enterprises and the Far East Consortium.
“The recent $870 million transformation of The Star in Sydney is a tangible reflection of the company’s capacity and capability to invest significantly and effectively in its properties,” said the company on its website.
In November, The Star Entertainment Group reached agreement with the Queensland government on a $3 billion redevelopment of Queen’s Wharf in Brisbane.
In Sydney, the group is in already in discussions with the New South Wales government to build a $500m hotel with 360 rooms at its flagship casino in Sydney’s Darling Harbor. The Star has tapped the Ritz-Carlton hotel brand to operate the luxury hotel tower, which could open by 2020.
“We want to be Australia’s leading integrated resorts operator and our plans for the Gold Coast are a significant part of that vision,” said Bekier.