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Australia – Lasseters’ new owners detail A$100m renovation

By - 25 October 2021

Australia’s Lasseters Hotel Casino in Alice Springs will be redeveloped to the tune of A$100m (US$75m) with new owners Iris Capital promising a new hotel, a revamp of the gaming floor and an upgrade to the Alice Springs Convention Centre.

CEO Sam Arnaout said: “We are well advanced in discussions with the Northern Territory Government in relation to recapitalising the asset. Our master plan for Lasseters incorporates a new hotel offering within a fully integrated resort and includes a repositioned casino floor with significantly expanded food and beverage offerings. The investment is aimed at capturing pent-up demand for new domestic tourism destinations, as well as the international travel market, while also capitalising on the mining industry’s connection to the region.”

Iris Capital bought the property in April for A$105m after 24 years of ownership by Lasseters International.

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