Resorts World at the NEC is due to open in 2012 if the Solihull Metropolitan Borough Council announces a favourable decision early next year.
The venue will feature a four star hotel, a spa, bars, restaurants, conference facilities and a casino.
The NEC is working with casino operator Genting Stanley on the project.
"The state-of-the-art resort will support our vision for Destination NEC offering a work, rest and play environment for all of our customers and allowing us to compete with venues across the world offering a genuine destination experience" said NEC Group chief executive Paul Thandi.
The NEC Group hopes the development will increase economic impact in Birmingham, providing jobs and business opportunities in the area.
Separately, the NEC Group's new Convention Centre Dublin (CCD) has already confirmed £16.5m of business, and it is not opening until 1 September 2010.
"All of the confirmed events are international," said CCD chief executive Nick Waight.
The CCD will offer 44,000sqm of space and is located on Spencer Dock. The building handover is due in May 2010 with complete build finished by August 2010.