Echo Entertainment has recently announced its plans to spend $1.4 billion revamping Jupiters Casino on the Gold Coast. The project will take several years to complete, and it has the potential to make the property into one of Australia’s leading casinos. The new casino will feature a luxurious design that rivals the look and feel of high-class casinos in Macau and the Philippines.
It is the look that most Australian casino operators are aiming for, as they compete to drawn in high rollers from Asia. The design features a 75-room luxury hotel with high roller suites and a completely renovated gaming floor.
"These plans are to show people on the Gold Coast that we are committed long term, and there is a big opportunity for a world-class resort complex to lead the way in bringing jobs and economic growth back to the region,” says John Redmond, CEO of Echo Entertainment. Redmond anticipates that the new look of Jupiters Gold Coast will help to boost the local tourism industry.
It will bring more international visitors to the Gold Coast and help to establish the city as a major gambling destination in Australia. Expanding its Gold Coast property is a wise move for Echo Entertainment, as the company is facing major competition from Crown Limited in every other market. Sydney is home to Echo’s Star Casino, which holds an exclusivity agreement with the city.
However, Crown Limited recently received approval to build a new VIP casino in the same city, annulling Echo’s exclusivity. Echo also owns the Treasury Casino in Brisbane, and Crown is now making plans to build a new high roller gambling venue in the city. Jupiters Gold Coast exists in an exclusive market, without competition from other operators. Echo Entertainment hopes to start construction on the project during 2014.
The company anticipates that the renovations will be complete by 2016.