The Star can expect a face lift as the casino is set to announce a $1.1 billion development plan which will significantly boost Sydney tourism… and Packer’s grudge.
The Sunday Telegraph reports three extra storeys and a 4500sq m aquatic park will top off The Star, while additional plans include two new 27-storey luxury hotels, three rooftop pool retreats and 50 restaurants and bars – and possibly a new name.
New designs which incorporate panoramic views to the Sydney city skyline and the harbour are expected to lure the world’s biggest gamblers.
Due to be completed in 2019, one Star executive says, “This is a resort that screams excitement.”
PricewaterhouseCoopers has estimated the development would double the number of current visits to The Star to 2.6 million a year.
Echo chief executive John Redmond go into the details of the plan today, after the final documents were handed to the state government on Friday, according to The Sunday Telegraph.
However not everyone is excited by the new plans, specifically James Packer’s Crown Resorts.
Packer’s team has asked government to end The Star’s casino monopoly when its exclusive licence expires in 2019, as they have their own plans for a $1.5 billon casino at Barangaroo.
A panel will assess the final proposals and recommend to Premier Barry O’Farrell which better serve the state economy.
Echo executives have said The Star has the upper hand as it genuinely is tourist-focused in its development plans.
“This is the real deal – it’s not a plan for a bid, but a plan for an actual development,” one executive said.
A decision is expected within weeks.
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