Hotel giant Hilton hopes to take advantage of planned gambling law changes by building a £600m super casino and retail complex in Blackpool.
The complex would create 1,000 jobs, the Hilton Group says
Earmarked for the old Blackpool Central rail station, it would feature bars, shops and a conference centre.
About 1,000 new jobs are forecast as a result of the scheme, which also includes bookmaker Ladbrokes.
It depends on Blackpool being granted a super casino licence by the government and the council backing Hilton's plan.
Eight super-casino licences are expected to be awarded under the government's new Gambling Bill, if it becomes law.
The bill is central to Blackpool Council's regeneration plan, unveiled in its Masterplan in 2003, which aimed to turn the faded seaside resort into a Las Vegas of the North.
A spokeswoman for Hilton said: "The benefit to Blackpool would be the regeneration of the Central Station area.
"We are committed to training and using local suppliers and hope it would arrest longer term decline."
An entertainment lounge is also mooted for the complex, which would have 30 shops and 2,500 car parking spaces.
Reg Haslam, acting head of ReBlackpool, Blackpool's regeneration company, said it would consider bids from other potential operators.
He said: "We welcome their [Hilton Group's] interest and they are clearly serious contenders for a licence if they succeed in securing the support of the council and its partners.
"However, we are still waiting to assess the other applications and we will judge Hilton's proposals in a fair and transparent way together with those of other operators."