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Federal Hotels' $25M Bluff
Media Release - Friday, 15 April 2016
Cassy O'Connor MP | Greens Leader and Treasury spokesperson
The Federal Group's announcement today that its proposed $25M development at Port Arthur will go ahead whether they have a long term extension to the pokies monopoly Deed or not, is revealing.
It's clear previous threats that the company would not be able to build without the Deed security was a $25 million bluff from a seasoned hand at these sorts of gambles.
Today's announcement makes it clear the Farrell family don't need a guarantee of pokies’ revenue to sustain their business empire, although Tasmania’s estimated 2500 problem gamblers will be making a substantial contribution to the Port Arthur development.
Investment in regional communities is crucial to transitioning Tasmania’s economy and growing tourism sector.
We would urge the Federal Group to continue their investment in regional Tasmania and hopefully, repair some of the damage caused by the proliferation of poker machines in pubs and clubs across the State.