Star Entertainment Want To Exclusively Rights To Gaming In The Gold Coast Casino
The Star Entertainment Group wants to invest around $1.4 billion to renovate its Gold Coast complex. In return, the group is hoping to have exclusive rights in the region.
The operator is hoping that such sizeable investment in the property should give it monopoly in the region. The operator wants 30 years worth of monopoly protection, thus cementing the Star Gold Coast property as the only gaming venue in the area.
However, the group might not get what they seek. The reason for this is that the Queensland authorities are considering adding a second casino in the area to boost tourism. But, Star Entertainment is of the opinion that the region would not be able to accommodate more than one casino.
Star Gold Coast has been in the region for more than 30 years. It boasts of more than 1500 slot machines and about 100 gaming tables.
Intense Competition
Tourism Minister Kate Jones feels the Star Group would be able to provide exclusive service for the area; however, authorities are waiting to see if the operator’s projected timeline of the $1.37 billion investment it has promised
“The formal process being used for the Star Entertainment Group negotiations are in line with the state government’s exclusive negotiating framework under the Department of State Development,” said Jones.
Star wants assurances from the Australian government, although it believes that the government is looking at other operators to take a second Gold Coast gaming license.
Jones is hoping that a decision can be made as soon as possible. For her, she just wants what would boost the tourism of the region. Whether that means bringing another operator remains to be seen.
