After developers of the A$8-billion Aquis Great Barrier Reef Resort abandoned plans for the addition of a casino, a new expression of interest process is expected to be initiated by the Queensland government and according to local media, this is likely to happen soon.
The city of Cairns is one of the possible applicants for the lucrative Far North casino license. This statement was somewhat affirmed during a Friday launch of the city’s Chamber of Commerce where officials discussed the benefits a major integrated casino resort development would bring Cairns, its economy and tourism industry.
Queensland Treasurer Curtis Pitt was among those to voice their support for such a project. The official hailed the improvement of the local tourism industry, which grew from a period of recovery into one of boom.
According to Mr. Pitt, the city complies to the criteria presented by the Queensland Government for a successful applicant, particularly when bearing in mind that there is an international airport in near proximity, and that city officials should take advantage of the opportunity presented.
With the growing demand for accommodation and entertainment opportunities in and around Cairns, a major hotel and casino development is exactly what the city needs, Mr. Pitt further dwelled during Friday’s lunch.
Hong Kong business tycoon Tony Fung and his company Aquis planned to build a A$8-billion casino resort at Yorkeys Knob. The project was granted the necessary casino license for the purpose. Earlier this year, it became clear that the complex will still be built but no casino will comprise its offering. Changing market conditions were cited as the reason why the project’s original concept was modified so as to exclude a gambling venue.
With the regional casino license now up for grabs, Tourism Tropical North Queensland CEO Alex de Waal said that Cairns is now truly open for business and for this type of development. According to the executive, there is interest from foreign investors due to the region’s “highly compelling attractiveness.” Mr. de Waal also noted that Cairns would only benefit from five- and six-star projects, with those known to be particularly appealing to Asian, mainly Chinese, customers.
