Queensland Premier Annastacia Palaszczuk and her administration rejected on Monday the A$3-billion plan for the construction of an integrated resort on Gold Coast’s Southern Spit. The state’s top official cited community’s pleads for the area to keep its parkland status, which would be impossible if a casino resort was built there.
The multibillion masterplan was to be realized by Chinese-backed group of investors ASF Consortium. Its project included the construction of the Gold Coast Integrated Resort that would have featured five- and six-star hotels, a casino, convention facilities, spa and wellness facilities, luxury retail, multiple dining options, and a number of other entertainment facilities. The property was to be developed on the Southern Spit, not far from the Sea World water park.
The area is currently occupied by parks and green spaces. Earlier this year, the Queensland government opened a public consultation period, collecting opinions from Gold Coast residents whether the expensive plan would be the best for the Southern Spit.
Premier Palaszczuk told media that the community seems to prefer the area’s current parkland status and the complex would have certainly changed its current look and atmosphere. Under previous proposals, the government would have had to change a three-story height limit for the area in order for ASF Consortium to be able to built high-rising buildings as part of the resort.
Ms. Palaszczuk told media that the limit will remain in place and that any such change would have presented an “eyesore” in the Broadwater region.
Although its latest plan was rejected, ASF Consortium was told that it would still be able to build an integrated resort in Queensland. The company was selected as the preferred bidder for a casino license by the state’s government four years ago. It first produced a plan for a casino complex on the man-built Wavebreak Island.
However, a controversial proposal for the addition of a marina as part of the resort resulted in the whole project’s rejection, due to complaints from multiple environmental organizations. It seems that environmental concerns again have prevented ASF Consortium’s second plan from being realized.
As revealed by Premier Palaszczuk, the group of investors would be compensated, although the government is yet to determine in what way.
News about the project’s failure came mere days after it was reported that Las Vegas casino operator Caesars Entertainment Corp. and ASF Consortium have entered preliminary agreement that would have allowed the former to operate the casino portion of the A$3-billion resort.
Earlier this year, news spread in local media that the Chinese-backed group of investors might not be able to deliver the multibillion scheme as its parent company had reportedly been at a loss during the six months to December 31, 2016. ASF Consortium did its best to dismiss those reports, but many would agree that they might have influenced the Queensland government’s final decision to reject the plan.
