A plan for the addition of a 200-meter hotel tower as well as other amenities at the existing Star Casino in Sydney was presented to New South Wales Premier Mike Baird and his administration.
Gambling operator The Star Entertainment Group holds the license for the operation of Sydney’s only casino. However, the company’s exclusive right is set to expire in 2019. Rival operator Crown Resorts has been awarded a license to build a multi-billion integrated resort at Barangaroo. Looking for ways to fight off competition, The Star presented a plan for the establishment of a hotel tower not far from Crown Resorts’ property.
The Star explained that it wants to add luxury accommodation options for its well-to-do Chinese customers. The gambling company’s two Hong Kong-based partners – Far East Consortium and Chow Tai Fook – have proposed to turn The Star Casino into a six-star, multi-billion-dollar integrated resort with numerous food and beverage, accommodation, and entertainment options.
The three companies are currently working together on the establishment of the A$3-billion integrated resort at the Queen’s Wharf precinct in Brisbane. A spokesperson for The Star said that wealthy Chinese tourists are looking for new exciting destinations and that the casino company is keen on capturing their attention. He further noted that Sydney’s occupancy rates are “at spillover capacity” and that there is demand for additional supply.
As mentioned above, Crown Resorts is to build an integrated casino complex at Barangaroo and is to launch it in 2019, when The Star’s exclusive license is set to expire. The resort would be aimed at wealthy Chinese high rollers.
The Star explained that it would need to expand its casino into a luxury destination with hotels and numerous other options, in order to be able to compete with Crown Resorts’ development. And the spokesperson for the gambling company said that it would use Chow Tai Fook’s connections with its more than 4 million members, of which 1.4 million are VIP members. The Hong Kong-based jewelry giant, which is now looking to expand its presence in the tourism industry, is known to be working with a tourist company that annually books holidays for more than 50 million Chinese tourists.
The Star spokesperson also said that the company would work closely with the New South Wales government up until it receives the necessary approval for the addition of the proposed 200-meter hotel tower.
