It seems that the ASF consortium is to present a new proposal for the construction of a A$7-billion integrated casino resort on Wavebreak Island, after last month the Queensland government rejected the group’s bid.
ASF said in a statement to the Australian Stock Exchange that it is to work together with the newly-elected Labor Government in the weeks to come, so as to be able to place a new bid for the establishment of the proposed multibillion property, which is also to include a cruise ship terminal.
The new Queensland government was elected on January 31, 2015. Back in May, it suspended the Wavebreak Island project as it had promised before the statewide vote took place.
Dr. Anthony Lynham, Development Minister for Queensland, commented that the state government welcomes projects that would create jobs for residents of the Gold Coast and would contribute to the region’s economic well-being and growth.
Dr. Lynham also pointed out that every single proposal of this kind needs to meet certain requirements as well as “environmental assessments and public consultation.” According to the official, ASF is particularly committed to the state and respects its environment and residents. This is why he believes the end result would be an integrated casino resort that would attract visitors and investors from the Asia-Pacific region.
If approved, the A$7-billion property would spread over a 90-hectare site on Wavebreak Island. It is to feature a cruise ship terminal, marinas, five luxurious hotels, a casino, as well as a number of food and beverage, retail, and entertainment options. Las Vegas-based hotel and casino operator Global Gaming Asset Management is to run the casino operations.
If the Wavebreak Island project gets the nod from the state government, that would be yet another blow to the planned boutique casino for Great Keppel Island. Developer Tower Holding was given the green light to proceed with the construction of a A$600-million eco-luxury resort that would feature a 250-room hotel, 700 villas, 300 apartments, an airstrip, a marina, etc.
However, the company behind the multimillion project argued that it would need to add a small casino with about 35 gaming tables, in order to attract investors that would fund its construction.
The former Queensland government awarded a total of three casino licenses for the Gold Coast region. The winning bidders were the China-backed ASF consortium and Tony Fung’s Cairns project. The winner of the third project for the Queen’s Wharf tender is yet to be announced.
The newly-elected government of Premier Annastacia Palaszczuk has repeatedly pointed out that Tower Holdings would not be awarded a casino license after its proposal had failed to win one of the three licenses. Furthermore, no fourth license is to be created by Queensland officials.
Yet, Premier Palaszczuk said at a Rockhampton Community Cabinet meeting held last week that Tower Holdings might try its luck, provided that one of the three licenses becomes available again for some reason.
