Cambodian casino operator NagaCorp Ltd. might be interested in developing a casino resort in the heart of the Sunshine Coast in Queensland, Australia. Local news outlet Sunshine Coast Daily reported that representatives of the gambling company have visited the area to explore development opportunities.
The Sunshine Coast had previously launched a multi-million dollar project for the development of the city’s new Maroochydore Central Business District. The massive scheme will include the construction of a new city hall building, multiple office buildings, retail, food and beverage, entertainment, and convention facilities, as well as different accommodation buildings. The new CBD will occupy a 53-hectare site located in the heart of the town of Maroochydore.
It was last year when Sunshine Coast Mayor Mark Jamieson first proposed the addition of a casino resort to the CBD development project. The official pointed out that a development of this kind would open numerous jobs for residents of the area and will attract internationals tourists from different parts of the world. Mr. Jamieson said he believed the Sunshine Coast was one of the best places in Queensland for a casino resort.
The state has been looking to further expand its tourism industry and integrated resorts with gaming facilities have been considered as an opportunity to draw international tourists.
International Interest in the Maroochydore CBD Development
John Knaggs, CEO of SunCentral, the business operation created by the Sunshine Coast City Council to carry out the CBD development project, has told local media that both local and international companies have expressed interest in participating.
As mentioned above, the Cambodia-based and Hong Kong-listed NagaCorp was reportedly among the latest companies to have shown interest in setting up operations in Maroochydore’s new city center.
Local media reported that NagaCorp majority owner Dr Chen Lip Keong visited the Sunshine Coast together with the casino company’s Chairman, Timothy McNally, and architect Paul Steelman. The reason for their visit was not disclosed, but it is believed that NagaCorp might be exploring opportunities to expand its footprint to Queensland.
NagaCorp currently operates the NagaWorld integrated resort in the Cambodian capital Phnom Penh. The company recently cut the ribbon of Phase Two of its development in the Southeast Asian country. NagaWorld and NagaWorld 2 currently feature more than 1,600 hotel rooms and a premium casino floor, among other facilities.
NagaCorp actually holds a 41-year monopoly over casino gambling within a 200-kilometer radius around Phnom Penh, due to expire in 2035.
As for the Maroochydore CBD development, SunCentral said in a development update from earlier this year that the project was progressing smoothly and that construction of the first buildings is on schedule to begin in 2018. It is yet to be seen whether the Sunshine Coast will be allowed to build a casino as part of the plan as the addition of a gambling facility needs to be approved by the Queensland Government.
