The new owner of Queensland’s Jupiters Townsville casino hotel intends to spend A million to overhaul the property and remake it as a locals draw.
Australian millionaire Chris Morris, who bought the casino from Echo Entertainment for $70 million in January, told the Australian Financial Review the property is currently the worse-performing casino in the country, but he plans to change that.
Morris said he is repositioning the property toward the domestic market rather than targeting foreign high rollers.
Brad Morgan, who recently ran SkyCity Entertainment’s Darwin casino, has been hired to lead the effort.
The Jupiters deal pushes Morris’ investments in Queensland in the past three years over $100 million. He also owns a Queensland helicopter charter company, Orpheus Island and recently bought an outback cattle station in Mt. Mulligan.
He made his fortune in technology, co-founding share registry business Computershare. His Colonial Leisure Group owns 15 businesses, including a number of pubs, a Margaret River brewery and the Daintree Eco Lodge in north Queensland. But his passion these days is tourism. He says his dream is to create packages for international tourists that take in the Great Barrier Reef, the Daintree and the outback, allowing them to stay at his trio of properties.
Jupiters will play a crucial role in this plan. “Having the casino allows you the cash flow to do other things,” he said.
