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Echo Entertainment Group Limited (ASX:EGP) has unveiled plans to invest up to $1.5 billion in redeveloping its Jupiters complex on the Gold Coast, including a new six-star hotel with VIP facilities.
The plans under consideration, which the group aims to implement by the second half of 2014, include a new six-star hotel, new VIP gaming and private gaming room facilities and significant expansion in food and beverage venues.
At the gaming group's annual general meeting today, chief executive officer John Redmond said the group planned to retain Jupiters' existing infrastructure.
He says the hotel design would be competitive with the best available anywhere in Asia and would be a major tourist drawcard for the region.
Echo Entertainment generated a net profit of $83.5 million in fiscal 2013.
