Burswood casino $350m upgrade

Perth’s Burswood casino looks set to get a $350m upgrade that will see it add an extra 300 online pokies and gaming tables to it’s casino floor.

According the Barry Felstead, Burswood’s CEO, the investment will take place over 3 years and will also see upgrades to the resorts accommodation and restaurants in what is a clear attempt to make Burswood Western Australia’s premier entertainment venue.

The James Packer owned casino currently has 1750 pokie games and other gaming machines as well as 170 table games. However, at busy times the casino which is located close to Perth’s city centre on the Swan River can become overcrowded with players having to queue for tables and cash outs.

However it appears that the upgrade is yet a done deal. The plans need be authorised by the Western Australia’s Racing and Wagering Commission, a move which appears to be a formality judging by comments emanating from the Racing Minister Terry Waldron. According to Waldron, if the plans were to get approved and to go ahead, Western Australia would still have the lowest concentration of gaming machines per capita in Australia.

The move to increase the capacity of the Burswood casino comes at a time of heightened sensitivity within Australia concerning State Governments reliance on gambling revenues to balance the treasury’s books. Recently, the Crown Casino Melbourne had a $212m upgrade approved by the Victorian Government, a move which attracted much publicity and condemnation amongst Australia’s anti-gambling community.

Part of the Burswood casino deal sees the payment of an up front fee of $20m to the WA government should the plan be approved. This has certainly raised some eyebrows on both sides of the political divide, with many feeling the dangling of a financial carrot does not lead to an independent review of the benefits and disadvantages of the project. However, according to Waldron, part of the up front payment will go towards helping problem gamblers in the State. According to some Australian newspaper reports that figure could be as much as $2m.

Other financial aspects of the deal include the Burswood casino paying increased taxes over the next 5 years, from the current rate of 22% to 27%.

Source: OnlinePokiesClub.com