The project include the development of a luxury hotel in Port Arthur, plus the renovation of the Country Club Tasmania
Tasmania.- Wrest Point complex could receive a US$ 70 million redevelopment if Federal Group gets an extension by the authorities on its gambling license in Tasmania, and invests the amount on the announced make over.
As Federal Group CEO Greg Farrell explained, the project could generate a “new era” for tourism in Tasmania and Wrest Point. Plus, it could generate 100 new jobs. The projected plan includes a VIP gaming room- with the goal of attracting international gamblers-, as well as new dining outlets and bars.
Besides the unveiled project for Wrest Point, Federal Group will also invest in two other venues: US$ 20 million in a new luxury hotel in Port Arthur and an estimated of US$ 10 million in renovations for the Country Club Tasmania. In total, the company would spend US$ 100 million in the country.
Nevertheless, in order to develop all these projects, Federal Group has to wait until the government decides on the future of its gaming license. The company will start negotiations next year, because the review of the licenses is scheduled for 2018, and they don’t want to wait till then. “If the licenses were not renewed, then it would entirely inappropriate to spend US$ 70-plus million building spaces and developments for casinos that may not exist into the future,” explained Farrell.