The Star Gold Coast casino in Australia will add a new tower housing 210 five-star hotel rooms.<\/p>\n\n\n\n\n\n\n\n
Australia.- The Star Entertainment has announced it has started construction of\u00a0an AU$400m new tower\u00a0<\/strong>at the Star Gold Coast casino resort.<\/p>\n\n\n\n The new construction will add a fourth hotel option at the Star Gold Coast<\/strong>, which is located in Broadbeach, Queensland.\u00a0<\/p>\n\n\n\n According to local media, the Star Gold Coast casino resort tower will include 457 apartments<\/strong> for residents and guests and 210 five-star hotel rooms.<\/p>\n\n\n\n The tower will also have\u00a0more than 12,050 square metres of retail space<\/strong>, several restaurants, a wellness centre and a large lagoon pool.<\/p>\n\n\n\n Star Entertainment\u00a0hopes to launch the expansion by mid-2024<\/strong>. It still has the capacity for another three hotels, which would take the potential total to seven.<\/p>\n\n\n\n During the second half of the 2020\/2021 financial year, the\u00a0Star Gold Coast casino<\/a>‘s\u00a0domestic gaming revenue rose 18 per cent.<\/p>\n\n\n\n The casino is open\u00a024 hours a day, 7 days a week<\/strong>. It has over\u00a070 table games and 1,400 machines<\/strong>.<\/p>\n\n\n\n The Star Entertainment<\/a>\u00a0has\u00a0made an unsolicited non-binding offer of AU$12bn<\/strong>\u00a0(US$9.4bn)<\/strong>\u00a0for Crown Resorts – the first offer that Crown has received.<\/p>\n\n\n\n It\u2019s been suggested that The\u00a0Star Entertainment<\/strong>\u00a0could help\u00a0Crown Resorts<\/a>\u00a0solve its regulatory problems thanks to its experience as a casino operator in Australia.<\/p>\n\n\n\n Crown has asked the company to\u00a0provide \u201ccertain information<\/strong>\u00a0to allow the Crown Board to better understand various preliminary matters.\u201d\u00a0<\/p>\n\n\n\n According to Star Entertainment,\u00a0a merger of the two major Australian casino operators would create a national tourism and entertainment leader\u00a0<\/strong>with a world-class portfolio of integrated resorts.<\/p>\n\n\n\n However, the\u00a0Australian Competition and Consumer Commission (ACCC)<\/strong>\u00a0said it would need to conduct\u00a0a public review<\/a>\u00a0to analyse whether Crown Resorts and Star can merge.<\/p>\n\n\n\n ACCC chairman, Rod Sims noted that the potential\u00a0merger would result in a casino giant\u00a0<\/strong>with operations in the main Australian states.\u00a0<\/p>\n\n\n\n Blackstone Group has also made an offer for Crown, which it has upped to AU$12.35 per share, <\/strong><\/strong>but\u00a0Crown Resorts has rejected the offer,<\/a>\u00a0saying that the conditions \u201cpresent an unacceptable level of regulatory uncertainty for Crown shareholders.\u201d<\/p>\n\n\n\n Oaktree Capital Management<\/a>, meanwhile, has made an AU$3bn (US$2.32bn) unsolicited non-binding offer to acquire\u00a0some or all of the Crown shares owned by James Packer.<\/strong>\u00a0\u00a0<\/p>\n\n\n\n Victoria\u2019s Royal Commission, chaired by\u00a0former Federal Court judge Raymond Finkelstein<\/strong>, has started a public hearing on Crown Resorts suitability to continue holding a casino licence.<\/p>\n\n\n\n Timothy Bryant, a compliance officer at the Victorian Commission for Gambling and Liquor Regulation (VCGLR), said Crown Resorts lied to him<\/a> about the arrest of 19 Crown executives in China in 2016.<\/p>\n\n\n\nStar Entertainment offers to acquire Crown Resorts<\/strong><\/h2>\n\n\n\n
Victoria\u2019s Royal Commission starts public hearings into Crown Resorts<\/strong><\/h2>\n\n\n\n