Multi-million dollar international casino boost for Alice Springs

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One of Australia’s fastest-growing hospitality developers will invest $70 million within the next five years to further transform tourism and boost visitation in Alice Springs.

Iris Capital purchased Lasseters Hotel Casino last year, with plans to expand the establishment into a multi-million dollar international casino and hotel precinct.

Today, the company outlined concept designs to Government, with minor works already underway and further construction expected to commence later this year.

The project is expected to create over 500 new jobs during construction. A further 500 full-time positions will be created once the precinct is operational, nearly doubling the current workforce.

The announcement follows positive negotiations with the Territory Government, with the Casino Operating Agreement to be extended for a further 20 years, and the Gaming Machine Taxation rate to be fixed at the current 15 per cent for the first ten, with an extension to follow based on new performance targets being met.

The Territory Government values private investment as a key driver for its strategy to create more jobs and grow a $40 billion economy by 2030.

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