Federal Group reveals redevelopment plans for its Hobart casino but there’s a catch: the Tasmanian government would have to extend its gaming monopoly.

Federal Group is stepping up its negotiation efforts to extend its gambling license in Tasmania as it unveils $70 million make-over plans for Wrest Point complex.

The proposal includes new dining outlets, more bars and a VIP gaming room to attract international gamblers.

Federal Group CEO Greg Farrell said the project would create a “new era” for tourism for both Tasmania and Wrest Point. The project is also expected to create 100 new jobs.