Canberra casino submits new business plan

The Canberra casino has released a revised AUD307 million (US$228 million) redevelopment bid predicting 617,000 new visitors to the casino by 2030.

Australia.- The Canberra casino has submitted a revised AUD307 million (US$228 million) redevelopment bid and adetailed business plan to the Australian Capital Territory (ACT) government for its expansion.

The redevelopment includes a 10-storey five-star hotel, six-star luxury villas, seven new restaurants, nightclubs and bars, a shopping mall and a day spa and resort pool.

The casino aims to shift “from a predominantly local catchment casino today to one patronised more heavily by interstate and international tourists”, casino owner Aquis Entertainment said in a statement to the Australian Stock Exchange.

The figures come from a Deloitte Access Economics analysis, which according to an Aquis spokesman predicted a 6.7 percent increase each year in local visitors, a 10.7 percent increase each year in interstate visitors and a 19.9 percent increase each year in international visitors, to 617,000 overall by 2030.

31 percent of that total was estimated to come from visitors within the ACT, 45 percent from interstate and 23 percent from overseas markets. At this point, only 6 percent came from overseas and 42 percent from interstate, explained the spokesman, outlining the figures included visitors to the restaurant, hotel and leisure facilities, not just gambling.