Coronavirus: Operator of The Star Gold Coast says Dorsett Hotel tower on track to open in 2022

The operator of The Star Gold Coast has revealed plans for its Dorsett Hotel tower project amid a painful COVID-19 shutdown.

THE operator of The Star Gold Coast has revealed construction of the $400 million Dorsett Hotel tower remains within budget and on track to open in 2022 despite the group hurting from the COVID-19 shutdown.

Star Group yesterday said it was executing a $200 million debt funding facility as it seeks to strengthen the company’s liquidity. Investors strongly approved, sending Star shares up 9.4 per cent to close at $2.56.

An artist's impression of the Dorsett tower at The Star Gold Coast.

MORE TOP NEWS

Cyclist killed in horror crash on Gold Coast

Residents claim new tower will ‘stick its bum’ across view

Light rail: Social housing to be demolished for bus stop

Star said it had cut $25 million in capital expenditure for this financial year, however that relates mostly to the Sydney Sovereign Resort and not the Dorsett project.

The Broadbeach Island construction project has 160 workers on site each day.

A Star spokesman said that is expected to build up to 250 as work starts on the main tower rising above the six-level podium.

Star has estimated its operating expenses during the shutdown at $10 million per month from April made up of payment to employees that have not been stood down (the casino’s hotels are still operating) as well as security and other fixed costs. About 8500 of 9000 Star employees have been stood down.