Second Gold Coast Casino Receives Government Backing
Just two months after the Queensland government rejected a $3 billion plan for the construction of an integrated resort, Gold Coast Mayor Tom Tate’s persistence has paid off, and his city will finally get a second casino project off the ground.
Mr Tate announced on Friday that he received a response from Queensland Minister for State Development, Anthony Lynham, which outlined that the government fully supports a new integrated resort in Australia’s largest non-capital city.
The Mayor wrote to the politicians back in August, urging them not to scrap the plans for the construction of a resort and casino, as he was convinced that it would boost both the region’s overall economy and tourism numbers.
The new plan may involve the ASF group, who were behind the failed bid in August, but the government is planning to call for bids from international casino developers, who may be interested in constructing the resort and casino.
The failed bid was slated for the Southport Spit, but despite being selected as the preferred bidder, ASF fell at the last hurdle, which was the consultation of the residents, who were not happy with the location of the development, and in the end, got their way.
According to the Gold Coast Bulletin, a site on the Surfers Paradise Boulevard, which is owned by Hong Kong billionaire Tony Fung, is expected to be the frontrunner as the potential location of the development.
American casino titan Caesars Entertainment visited the Gold Coast in July, and is actively exploring the Gold Coast as a potential site for the company’s first foray into the Australian market.
Local media reported Caesars and ASF Consortium were in talks for a potential partnership in the Southport Spit integrated resort scheme, but now that the China-backed ASF are no longer the preferred bidder, Caesars have the opportunity to bid alone.
This development opportunity is expected to attract significant interest from the worldwide tender process that will begin shortly.