Australia’s biggest casino owner, James Packer’s Publishing & Broadcasting Ltd, is planning to build its third, largest so far hotel. Being the richest man in Australia, Packer opened his first gaming house in Macau in May. The third hotel will be located at the company’s Melbourne gaming house. The approximate cost of the casino is said to be A$300 million ($267 million). A$205 million is being planned for building retail shops, upgrading an existing hotel and refurnishing the casino. About 340,000 guests a year will be accommodated there.

The construction of the 658-room hotel is expected to be started this month, and the completion is expected to take place in May 2010. The hotel is believed to attract a large number of visitors and “to target the international leisure market”.  Besides, the hotel will focus on the global conventions and conferences industry.