Gold Coast development: Star Gold Coast plan to offer $100m for convention centre upgrade to see off rival casino

More than $100 million will today be offered to expand a major Gold Coast venue and create the city’s first beach club. But it will come at cost.

STAR Entertainment Group will today offer $100 million for a convention centre expansion, aimed at seeing off a rival Gold Coast casino being explored by State Government.

Star top brass are expected to tell shareholders at this morning’s AGM it will commit to a Gold Coast investment package, hoping to see off a potential second casino.

The package includes:

- Up to a $100 million to extend the Gold Coast Convention and Exhibition Centre on State-owned land but operated by Star;

Star is planning to offer up to $100m for a much-needed expansion of the Gold Coast Convention and Exhibition Centre.

- Contractually commit to completing its $2 billion Broadbeach Island masterplan which includes five more towers on top of the existing Star Grand hotel and Darling;

- A major revamp of Star-owned Sheraton Mirage at the Spit with the addition of a beach club at the sand edge;

- The Sheraton overhaul potentially could include a low-rise resort project with tourism and apartment accommodation.

POKIES PROMISE UNDER FIRE

It’s understood the Star has already reached out to State Government with details of its proposed investment package with the aim of bringing an end to ongoing uncertainty around a second casino.

Star Entertainment Group CEO Matt Bekier is expected to speak at today’s AGM in Brisbane. Picture: Justin Lloyd.

The State Government, via its Global Tourism Hub process, launched a global call for registrations of interest in developing a GTH and second casino earlier this year.

Since its decision to roll the dice on scouting for operators of the Coast project, it has been plagued by controversy.

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The Opposition, led by Broadwater MP David Crisafulli has claimed it will be impossible for Tourism Minister Kate Jones to keep a promise not to increase pokies in the city for a GTH.

Protests have been held fearing public land at Carey Park in Southport is among preferred sites while Clubs Queensland has predicted it would decimate RSLs and surf clubs reliant on pokie revenue.

The Star Gold Coast site's new $500m fourth tower planned (far left) at its Broadbeach gaming resort which will measure 63 storeys, 215m high and be operated at 5-star level by an international operator. It has been fast-tracked and likely start construction next year while third tower Dorsett (second from right) is coming out of the ground.

An industry source told the Bulletin: “The Star wants to break the deadlock. Talk of second casinos and more recently Global Tourism Hubs has been going on for years.

“It’s impacting Star’s business and creating uncertainty for others who might want to invest in the Gold Coast.

“The Star have made it clear they just want to get on with investing, driving tourism and creating jobs now,” the industry source said.

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City tourism chief Annaliese Battista has already said the lack of convention centre expansion – costed at $85 million – is causing the Gold Coast to miss out on tens of millions of dollars from conferences each year.

Star bosses have always made it clear completion of its $2 billion masterplan - which the Palaszczuk Government green-lit earlier this year - is contingent on the “competitive environment” on the Gold Coast.

Aerial shots of the Dorsett hotel and apartments construction site under construction at Star Gold Coast in Broadbeach.

A third Star Gold Coast building, dubbed Tower 1, is under construction and will house Australia’s first Dorsett hotel. Apartment pre-sales have started in a fourth dubbed Tower 2 which Star aims to start building next year.