Tabcorp has announced plans to upgrade and expand its three properties in Queensland, Australia. The investment of A5 million (US2 million) is more than three times the originally announced A5 million for the projects.
The move comes as Tabcorp prepares to separate its casino division from its betting and non-casino gaming machine activities in 2011. Capital expenditure will begin after the split and take place over a six-year period.
Jupiters on the Gold Coast will receive A$350 million for multiple projects, including a new 200-room, five-star boutique hotel. The casino floor will be expanded to accommodate its share of additional tables and slots, concessions agreed with the Queensland government to help pay for the investment in the properties. In all, Tabcorp can place another 500 slot machines and 50 tables spread over the three casinos. Currently, the company holds a total of 3,136 gaming machine licenses and 265 table licenses.
Jupiters Gold Coast will also receive new VIP gaming facilities, a spa and ultra pool, a beach club on the ocean, restaurants, bars and a nightlife venue, and an expanded and refurbished ballroom.
Treasury in Brisbane is getting A$260 million to create what Tabcorp is calling a “metropolitan casino destination.” A new 400-room, five-star hotel will join the existing lodging and host all future VIP gaming action. A range of improvements and new additions similar to those at Jupiters Gold Coast are also planned.
The final A$15 million will be spent at Jupiters Townsville to upgrade existing facilities and increase space to hold major events in the region. Hotel suites and premium gaming facilities will be upgraded, and meeting and ballroom space expanded.
The three properties currently receive 9 million visitors each year. Tabcorp expects that number to increase significantly when the upgrades are completed.
