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When it comes to making money, the more you invest usually means the better chance you will get good returns. Publishing and Broadcasting are putting that theory to work as they plan for a big money expansion of their Crown Casino, which is located in Australia.
Clarendon Street is the location where there will be a 658 room curved hotel. It will be the third hotel for Crown and will cost an estimated $300 million to build.
Two other hotels are already built and with the new hotel Crown will bring their total number of rooms to an astonishing 1,600.
Also, as part of the expansion efforts, a new conference hall will be built, located next to Crown Promenade hotel. Crown Towers, their other hotel will receive a face lift in the $65 million range for 430 of their rooms. Hotels will not be the only place the group will be upgrading. $140 million is going into improving these casinos gaming areas, and the emphasis will be on making them flashier and more up to date. The target date for the opening of the new hotel is May 2010, and the opening corresponds with the opening of the Melbourne Convention Center.
Melbourne will be the beneficiary of the new hotel as tourism is certainly going to increase. The addition of 4,000 jobs while construction is under way and another 500 when the hotel is done is also an added bonus for the areas economy.
Protest of Illegal Workers Held in China’s Gambling Mecca
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Macau is the gambling capital of the World, and one would think this would lead to economic stability for the citizens of the area, but that is not the case as many people are fed up with the influx of illegal workers.
In 2002, Macau made a decision that they would end their monopoly on the gaming in the area and allowed some of the top Las Vegas executives come in and build casinos. Sheldon Adelson and Steve Wynn were quick to move in on the area.
Now, it is five years later and workers of the area are claiming that they still have not felt the positive impact of the expansion.
The most disgruntled workers are the local construction companies, who have been overlooked in favor of illegal workers who will work at below minimum wage. They estimate that the problem is so bad that
there are over 70,000 illegal workers in the area and that the government has done nothing to help solve the problem.
Macau is a pro-China territory but the protest on Monday led to city leader Edmund Ho releasing a statement on the government web site that stated the area “respects and attaches great importance to citizens’ opinions and appeals expressed in a reasonable way.”
The main protesters according to Police spokeswoman Lou Sin Man came from a casino construction workers group.