Billionaire James Packer said that his company – Crown Resorts – is determined to win the bid for a casino license in the Queen’s Wharf area and turn Brisbane into a world-class destination, thus drawing millions of tourists to the city.
Crown is currently competing with Echo Entertainment, the other major gambling operator in Australia, for the right to build its proposed A$3-billion integrated casino resort on the Brisbane waterfront.
The Queensland government is to announce its decision on which one of the two bidders would be awarded the casino license after Tuesday, July 14, when the State Budget will be made public.
The two operators finalized their applications earlier this week, providing the latest details about their projects.
Yesterday, Mr. Packer told local media that they “are going the extra mile” in order to win the Brisbane license. The executive pointed out that they have significantly improved their project. Earlier this week, Crown proposed to buy additional 1,500 to 2,500 slot machine licenses from local clubs and hotels that feature those. Echo, on the other hand, would not need such additional licenses.
Mr. Packer further commented that they want to turn Brisbane into a global city bringing world-class entertainment as they had done in Melbourne and Perth. Thus, Queensland residents would have an integrated hotel and entertainment resort “they can be proud of.”
If approved, Crown’s property would feature the first six-star hotel in Brisbane, two five-star ones, a water park, a large casino floor, etc. The gambling operator is working together with Chinese real estate developer Greenland Holdings on the expensive project.
The two companies have promised that the construction of the luxurious precinct would create more than 3,500 indirect and direct jobs. Once completed, it would employ more no less than 5,400 people. Furthermore, Crown and Greenland have pointed out that they would hire local people.
However, analysts believe that Echo and its partners – Hong Kong-based Far East Consortium and Chinese casino operator and real estate developer Chow Tai Fook – are the front runners for the Brisbane license. Currently, Echo runs the city’s Treasury Casino.
If it is backed by the Queensland government, Echo and its partners would turn the emblematic building into a Ritz Carlton Hotel. The integrated resort would also feature a new casino, residential development, an underground boutique retail center, numerous entertainment options, etc.
