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Australian casino to pad its operation with $350 million

Posted on July 20th, 2010

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Burswood Entertainment Complex in Perth, Australia is set to expand its gaming facilities with a pricetag of $350 million. Burswood received a torrent of support from the Australian government permitting the casino to add over 300 electronic gaming machines and 50 gaming tables. The casino is to pay a $20 million up front fee to the government as an exchange.

An increase of tax rate was also agreed upon—a progressive increase from 22% to 27% is to be paid over the next 5 years. Terry Waldron, Racing and Gaming Minister said that the expansion of gaming offers is a win win situation for both the casino and the state as the expansion will create more sources of business for the casino, while the $20 million up front fee is a great financial help for the state.

“While this Government will not support the introduction of poker machines into Western Australia, it will not stand in the way of the Gaming and Wagering Commission deciding on the application for more gaming capacity at the casino,” said Waldron. Burswood is a major tourism drawcard in the region and the addition of a Rockpool Bar and Grill, a premium Japanese restaurant and the complete refurbishment of the InterContinental Perth Burswood Hotel amongst a host of major capital expenditure will only strengthen that.” According to the Minister, Burswood is furthermore seeking to add 250 more gaming machines and 50 gaming tables. The Minister adds that West Australia still retains its position of having the lowest concentration of gaming machines per capita in Australia at approximately 10 times less than the national average. He also adds that the Government will be able to allocate more funding to support problem gaming with an initial amount of $2 million and $500,000 subsequently every year from the additional tax revenues the government will earn from the casino.

The $350 million investment for Burswood’s expansion is expected to be spent over 3 years, wherein works to improve and maintain the resort casino are to be done. “Together with the $130 million of capital expenditure we have made over the previous two years, today’s announcement means that Burswood will now be investing almost half a billion dollars over a five year period.” This is according to Barry Felsted, Chief Executive Officer of Burswood. The CEO believes the increased investment will bring in great things to the state. A total of 450 jobs are to be created from the expansion of Burswood and even 400 jobs are to be offered from the construction phase alone. This will make the casino the state’s largest single employment site.

Some of the notable enhancements in Burswoods facilities will include the full upgrade of rooms at the InterContinental Perth Burswood and the inclusion of luxurious new pools and resort amenities. The aim is to make Burwoods Perth’s best international 5 star hotel. Rockpool Bar & Grill is also another planned construction. Rockpool is renowned restaurant name that will be operated and opened by Neil Perry early 2011. The addition of 2 luxury villas are also in place. These 2 villas will be situated on the hotel grounds overlooking a magnificent view of the Swan River. A private gaming salon will also be constructed on the roof of the InterContinental Perth Burswood for players who would want to play against a beautiful backdrop of the Perth Skyline. The casino would want this feature to be the best and the first in the world.

Premium Japanese and Italian restaurants are also to be included on the existing options of restaurants in the casino. A food court will also be added and a contemporary buffet style restaurant will be opened on the lobby area of the hotel. A 40 meter luxury motor yacht has also been included on what Burswood is to feature on the improved version of the resort. The yacht will be offered to international customers and their guests to travel along the majestic beauty of the Rottnest Island, Swan River, and the Western Australian coast line. This will be the first among key players in the industry in Australia and even from competitors in the Asian continent.