THE owners and operators of Sydney's The Star casino have submitted a US$1 billion proposal to link Pyrmont, Darling Harbour and Barangaroo as part of an integrated resort, encompassing the casino as well.
Echo Entertainment, in a press statement, said the ‘Aiming Higher For Sydney’ proposal would provide tourism and hotel facilities to complement the approved Sydney International Convention, Exhibition and Entertainment Precinct.
The proposal suggests the development of meeting and event facilities, two new hotels to bring total room inventory at The Star to 1,150 rooms, 20 more restaurants and bars, architecturally designed parklands featuring public art, a new pedestrian and cycling bridge connecting Pyrmont to Barangaroo, and upgrades to The Star’s light rail station.
According to Echo, 93 per cent of The Star’s additional floorspace will go towards non-gaming tourism and entertainment infrastructure. The gaming company will also pay the New South Wales government A$250 million (US$231.4 million) to remain the sole casino operator in Sydney.
Echo expects the new development to attract 330,000 visitors to Sydney annually, increase its tax contribution to more than A$1 billion and create 5,750 permanent jobs.