Federal Group to unveil USD 70M casino refurb
Chairman Greg Farrell presented his plans two days after MONA revealed its own designs for a hotel, gallery extension and artistic playground, in what is an escalating strategic battle between the two tourism industry giants.
MONA's proposed high-rollers casino known as "Monaco", designed to help pay for the expansion at its Berriedale site, has pitted it against Federal which has a monopoly on gaming venues until 2023.
Negotiations between the two parties, facilitated by the State Government, broke down earlier this year after Federal said it would only relax its monopoly to allow the Mona casino to go ahead if it won an extension of its exclusive license to operate poker machines.
MONA owner David Walsh, who is strongly opposed to pokies, withdrew his application. While Mr Walsh said this week he would go ahead with his building plans with or without approval for its casino, the Wrest Point casino operator has said any major investment was contingent on getting an early extension to the license preventing any competitors.
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