A NEW £1 billion masterplan for Blackpool has got the go-ahead which could catapult the resort into one of the world's elite resorts.

A massive glass-roofed leisure complex is intended to complement the Pleasure Beach and will also be linked to as many as four 'resort casino' hotels.

Dubbed a 'subtropical waterworld and exploratorium' the complex would be just one part of the scheme, which would see the town rebranded as a 'resort of light' and the golden mile overhauled.

A 32,000 square foot arena and conference centre would also be built close to Central Pier, in a bid to win back some of the lucrative business trade.

This would be complemented by major public transport improvements, including new trams and an improved Blackpool North station.

"It is important to stress that the masterplan is only a draft - a broad outline of how our vision of a new Blackpool could be delivered," said Cllr Roy Fisher, Leader of Blackpool Borough Council.

"There's been a lot of talk about Blackpool becoming the new Las Vegas, but it's important people understand that these plans are, first and foremost, about regeneration."

The masterplan, thought up by two teams of internationally renowned consultants, covers 200 hectares of the town centre and would, tourism chiefs claim, create 20,000 new jobs and take 15 to 20 years to fully achieve.

A series of briefings and public exhibitions is now to be held as part of a consultation exercise.

Blackpool Council chief executive, Steve Weaver, said: "We want everyone who lives and works in the town to be part of this. We would encourage the people of Blackpool to have their say and help shape the future of the town for generations to come."