Star City management today announced a new event centre development that its managing director Sid Vaikunta says will change the landscape of conferencing and events for Sydney.
The $285 million investment currently awaiting department approval, will include a 3000 seat event centre, significant VIP customer facilities including accommodation, private aircraft and private gaming facilities – all with views of the harbour.
The new $100 million multi-purpose event centre has been designed to cater for exhibitions, conferences and tradeshows. And Mr Vaikunta said every seat will have optimal views perfect for international acts as well as guest speaker presentations.
The development has been projected for completion in stages, the first of which will open as early as next year. Pending development approval, the event centre will most likely be completed by 2012.
“This investment is in addition to the current $575 million redevelopment project, and takes the total Star City investment to $860 million,” he said.
Mr Vaikunta also predicted the development will fill a void in Sydney’s conferencing and exhibition offerings, which he says has in the past been superseded by Melbourne’s capabilities.
As well as releasing plans of the new development, TabCorp today announced the property performed well in 2010 with profits up 10 percent to $219.9 million.