Pokie Empire Pushes Council Land Sale for Sydney Mall Expansion

A big plan to redo a well-known shopping center in Sydney’s upper north shore has sparked debate. People found out that the plan aims to make the poker machine areas bigger and buy public land.

Gambling Giant Seeks Green Light for Pokie-Led St Ives Redevelopment

Iris Capital, run by gambling and hospitality billionaire Sam Arnaout, wants approval to make St Ives Shopping Centre much larger. The company bought the center and nearby retail spots last year for about AUD 450 million ($301 million). While they say the project will help the community, a key part is to build a new pub with a large gaming area, reported The Sydney Morning Herald.

The redevelopment plan adds more shops, eateries, outdoor dining areas, and a new entertainment zone with a multi-screen movie theater. However, Iris Capital also plans to build a licensed venue on Mona Vale Road, with the ground floor set aside for a gaming room of about 200 square meters, highlighting the poker machine-driven nature of the expansion.

To make the project work, the company has told Ku-ring-gai Council it needs to buy several council-owned alleys around the complex. These public roads would close and become part of the private development, allowing what the company calls an integrated approach to design and traffic flow. Council papers show that without control of the land, the larger redevelopment cannot go ahead.

The planned land sale has caught the eye of politicians. Federal MP for Bradfield, Nicolette Boele, stepped in after people voiced worries about the feedback period, prompting the council to push back the cutoff date for public input to January 9. She pointed out that locals should have enough time to weigh the effects of selling off public land, given how big the project is.

Pokie Empire Expansion Sparks Scrutiny Over Social Impact

People see Arnaout as the top dog in Australia’s poker machine world. He has built up a huge collection of pubs, hotels, and casinos across the country through Iris Capital. Reports from the industry have said he has outpaced other well-known pub owners to become the big cheese in the pokie business. His properties include some of the country’s most lucrative gambling hotels as well as casinos in Canberra and Alice Springs.

The billionaire’s gaming ventures have not always been smooth sailing. Officials have looked into some of his hotels before checking if they follow the rules. This includes how gaming rooms are set up and how people can get cash. Even with these bumps, Iris Capital keeps growing. They often mix building properties with running gambling-focused hotels.

St Ives Shopping Centre already ranks among Australia’s best neighborhood malls. It boasts three big supermarkets and over 100 specialty shops.

Iris Capital claims they are turning away potential shop owners because they are out of space. They say making the mall bigger will create jobs and boost the local economy. Skeptics, though, argue that focusing on poker machines brings up bigger issues about how large gambling spots in suburban shopping areas affect society when public property is involved in the arrangement.