Priscilla hotel, Queen of the Desert, sells for $ 105 million to property developer in Sydney

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Priscilla’s iconic Alice Springs hotel, Queen of the Desert, sells for $ 105 million to property developer in Sydney

A slice of Australian film history has been officially pulled from the market after a Sydney property developer splashed $ 105 million on the famous Lasseters Hotel Casino in Alice Springs.

Formerly called the Diamond Springs Casino, the hotel appeared in the Australian cult film The Adventures of Priscilla, Queen of the Desert as the venue where drag queen Mitzi Del Bra (Hugo Weaving) performed onstage.

Sydney-based development empire Iris Capital purchased the hotel from Singapore-listed group Lasseters International Holdings, which owned the property for the past 24 years.

Sold! The Adventures of Priscilla’s iconic Alice Springs hotel, Queen of the Desert has sold for $ 105 million to a property developer in Sydney. Pictured: Hugo Weaving, Terence Stamp, Guy Pearce in The Adventures Of Priscilla Queen Of The Desert

The hotel has undergone a complete renovation over the past eight years, with Lasseters spending more than $ 50 million on renovations.

What was previously a 75-room hotel with 188 slot machines, 21 table games and simple dining options is now a 4.5-star hotel with 205 rooms and a first-class commercial health club.

The hotel also features a day spa, a congress center, several restaurants and bars and a casino of international standard.

Local acquisition: Sydney-based development empire Iris Capital acquired the hotel from Singapore-listed group Lasseters International Holdings

Local acquisition: Sydney-based development empire Iris Capital acquired the hotel from Singapore-listed group Lasseters International Holdings

Formerly called the Diamond Springs Casino, the hotel appeared in the Australian cult film The Adventures of Priscilla, Queen of the Desert as the venue where drag queen Mitzi Del Bra (Hugo Weaving, pictured) performed onstage.

Formerly called the Diamond Springs Casino, the hotel appeared in the Australian cult film The Adventures of Priscilla, Queen of the Desert as the venue where drag queen Mitzi Del Bra (Hugo Weaving, pictured) performed onstage.

In a public statement last month, Lasseters CEO Datuk Paul Wong said it had been a ‘pleasure’ to have the property in their portfolio.

“Lasseters’ greatest asset is the dedication and dedication of the staff, some of whom have been with the company for more than 20 years,” he said.

‘We wish on behalf of the board [them] all the best in this next chapter and express our sincere thanks to every Lasseters employee who has been part of this most remarkable journey. ‘

Facelift: The hotel has undergone a complete renovation over the past eight years, with Lasseters spending more than $ 50 million on renovations

Facelift: The hotel has undergone a complete renovation over the past eight years, with Lasseters spending more than $ 50 million on renovations

New look: What was previously a 75-room hotel with 188 slot machines, 21 table games and simple dining options, is now a 4.5-star hotel with 205 rooms and a premium commercial health club

New look: What was previously a 75-room hotel with 188 slot machines, 21 table games and simple dining options, is now a 4.5-star hotel with 205 rooms and a premium commercial health club

Luxury;  The hotel also features a day spa, a congress center, several restaurants and bars and a casino of international standard

Luxury; The hotel also features a day spa, a congress center, several restaurants and bars and a casino of international standard

'Australia's gaming sector is highly regulated': Lasseters confirmed that part of the reason for the sale was due to the Australian government's recent regulation against James Packers' Crown Resorts

‘Australia’s gaming sector is highly regulated’: Lasseters confirmed that part of the reason for the sale was due to the Australian government’s recent regulation against James Packers’ Crown Resorts

In another statement, Lasseters confirmed that part of the reason for the sale was due to the Australian government’s recent regulation against James Packers’ Crown Resorts.

“Australia’s gaming industry is highly regulated,” the company said.

Recent events in this sector, and the problems with the other Melbourne casino operator in connection with regulatory investigations into alleged money laundering and possible links to organized crime, may affect the risk appetite of financial institutions in financing these sector.’

The Adventures of Priscilla, Queen of the Desert followed two drag queens played by Hugo Weaving and Guy Pearce as they made their way through the Australian Outback.

Iconic: The Adventures of Priscilla, Queen of the Desert followed two drag queens played by Hugo Weaving (left) and Guy Pearce (right) as they made their way through the Australian Outback

Iconic: The Adventures of Priscilla, Queen of the Desert followed two drag queens played by Hugo Weaving (left) and Guy Pearce (right) as they made their way through the Australian Outback

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