A new era of entertainment for Canberra
Aquis Entertainment has lodged a detailed business case with the ACT Government for the development of a world-class integrated entertainment precinct in the heart of Canberra’s CBD.
This significant urban renewal project has the potential to drive economic activity while delivering new tourism infrastructure that will broaden Canberra’s entertainment offering, reinvigorate the City South area and attract new interstate and international visitors.
Following our acquisition of Casino Canberra in late 2014, Aquis Entertainment has demonstrated its commitment to supporting Canberra’s evolution as a vibrant and modern capital city. Our $14 million investment to refurbish the existing casino is a strong endorsement of this and, through our redevelopment proposal, we look forward to building on this foundation as a significant contributor to the ACT tourism and leisure sector over the long-term.
A major urban renewal project
We have proposed a $307 million redevelopment to transform the current Casino Canberra and surrounding area into a comprehensive first-tier leisure and nightlife precinct. Plans include complete modernisation and upscaling of the casino, as well as building a critical mass of world-class restaurants, bars, retail boutiques, accommodation and entertainment options across City Walk.
The project, to be executed in two stages across a five-year development period includes:
• A new, expanded casino with international standard VIP facilities
• Six-star luxury villas
• Five-star hotel
• Seven new restaurants
• Day spa and resort pool
• Luxury retail shopping mall
• Nightclub and bars
• Expanded parking and road infrastructure
Real economic benefits
Our project will deliver a significant range of economic benefits with positive impacts across tourism, employment and gross territory product.
The new precinct will add to Canberra’s existing tourism and leisure infrastructure and build greater international and leisure market appeal that will allow the ACT to compete with every other Australian capital city for a share of the lucrative Chinese in-bound tourism market.
By 2030, Deloitte Access Economics project that the new integrated resort could attract an additional 617,000 patrons, shifting from a predominantly local catchment today, to one driven much more by international tourists.
As part of our proposal, we have committed to driving local skills development and employment opportunities. This will continue through to construction, completion and operation where we will provide the opportunity for local subcontractors and local members of the ACT development and construction community to participate in delivery of the project.
This increase in economic activity is estimated to support the net creation of up to 268 full-time regional jobs at peak construction. Once operational, the long-term job-creation impact is up to 338 annual full-time jobs.
Over the 15 years to 2030, the stream of Gross State Product gains amounts to between $478 million to $541 million. This is in addition to increased Territory taxation revenue.
A strong community connection
As an ASX listed company with a genuine commitment to Canberra, we are proud of the connection we have built with the community through our partnerships with hundreds of local contactors and our involvement with sport (ACT Brumbies, CBR Brave), charities (Lifeline Canberra, Soldier On) and business (Canberra Business Chamber).
Through our redevelopment proposal we have committed to continuing to provide genuine support while creating scope for meaningful local participation.
The redeveloped casino and new entertainment precinct will offer world-class facilities that do not currently exist anywhere in the ACT. These facilities will cater to a growing and changing local population, draw more people into the city, support the many existing tourism and leisure attractions, and further strengthen the social fabric of Canberra.
As we progress with the proposed redevelopment, we will continue to engage with local residents and the community, businesses and peak bodies to ensure that our plans are informed by, and appropriately recognise, community needs and interests. We are also dedicated to providing a level of responsible gambling support that hasn’t been seen in the ACT before. Our comprehensive problem gaming response is broad and includes education, information, professional assistance and resources delivered through a range of harm minimisation strategies, enhanced practices, mediation and counselling services. This will build further on the successful strategies currently in place at Casino Canberra.
An experienced team to deliver
Aquis Entertainment specialises in delivering landmark projects that completely redefine the economic landscapes of their host cities through responsible investment and sustainable operation. Our track record in Canberra is further proof of our capability and the confidence in our brand. Together with the winning team we have built, we have the experience, resources and collaborative partnerships to deliver a new era in entertainment for our nation’s capital.
A redevelopment of the scope and scale that we are proposing is worthy of a world-class team. And we have chosen partners based on their outstanding record of achievement across the globe that share our confidence and vision.