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Second Casino Plans on the Coast

12 Jul 2016 Surfers Paradise 0 Comment


DEVELOPERS say they will continue to plan for a second casino on the Gold Coast, despite opposition from the city’s clubs and hotels.

This comes as the State Government continues talks with the ASF consortium about a $2 billion hotel and casino resort on a 5ha slice of Crown land between Sea World and the Gold Coast Fisherman’s Co-operative.

Two months ago the government indicated if any of its regional licences for casinos failed to go ahead, it was prepared to go back to the market and several developers have been closely monitoring those applications.

State Development Minister Anthony Lynham said the Government was continuing negotiations with ASF and a preliminary detailed proposal was expected soon.

“No decisions have been made,” Dr Lynham said.

“This government inherited an integrated resort development process from the previous LNP government that we are continuing.

“Our focus is on jobs and sustainable economic development and any integrated resort development approved by the Palaszczuk Government would be expected to deliver jobs, direct and indirect, economic gains and, importantly, new international visitors.”

Hong Kong developer Tony Fung had considered redeveloping the Sheraton Mirage site for a casino resort and continues to buy up prime land on the Glitter Strip.

Brisbane-based developer Henry Yuen’s Central Surfers has also been linked to plans for a second casino.

A development source close to major projects said: “All these new casinos, they’re not about targeting the local clubs. They’re on a different scale.

“They’re about attracting new markets which include the Asian travellers.

“Pensioners wouldn’t be going there to put a few more pennies on the pokies.

“This is about getting the Chinese middle-class on cheap airfares to the Gold Coast to play the baccarat tables.”


Original article: http://www.goldcoastbulletin.com.au/business/casino-gold-coast-developers-wont-give-up-dream-to-compete-with-jupiters-hotel-and-casino/news-story/0e47a7e5aabb60f520b6bd470dffb638

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