CROWN JOINS FORCES WITH GREENLAND FOR BRISBANE CASINO

CROWN JOINS FORCES WITH GREENLAND FOR BRISBANE CASINO

CROWN Resorts Limited (ASX:CWN) has partnered with Greenland Holdings Group, to bolster its bid for the Queen’s Wharf precinct.

Crown and the Chinese diversified property group will co-develop a proposal for the luxury integrated resort, featuring a six-star hotel and casino.

CWN CEO Rowen Craigie says the team is pleased to align with an experienced company.

“Crown’s experience in designing, developing and operating luxury integrated resorts complements Greenland’s extensive property development experience in China and around the world,” Craigie says.

“I have no doubt that this consortium hasthe track record and drive that can deliver for Brisbane an iconic tourist, entertainment and residential precinct that is recognised globally and embraced by the local community.”

If successful, the Victorian entertainment group will own and manage the resort – while Greenland will control the remaining commercial, retail and residential sectors of the site.

Greenland Australia managing director Sherwood Luo says Crown is an influential leader in the global casino and hotel market.

“Together with Greenland’s considerable expertise in delivering large urban complexes and residential landmarks we feel this international consortium can deliver a superior development for Queen’s Wharf,” Luo says.

The announcement follows Echo Entertainment Group’s (ASX:EGP) strategic partnership with former rivals Chow Tai Fook Enterprises and Far East Consortium Australia last month, to secure the deal.

The successful developer is expected to be announced early next year.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Owner of Houston’s Farm, Sunfresh and Gourmet Selections enters administration

Owner of Houston’s Farm, Sunfresh and Gourmet Selections enters administration

A national vertically integrated farming and ready-made salad manuf...

Body Fit Training sets sights on Scandinavia with master franchise agreement

Body Fit Training sets sights on Scandinavia with master franchise agreement

After opening up 42 new studios globally in 2024 to date, Melbourne...

AI is not a magic wand – it has built-in problems that are difficult to fix and can be dangerous

AI is not a magic wand – it has built-in problems that are difficult to fix and can be dangerous

By now, all of us have heard and read a lot about artificial intell...

Former AFL boss Gillon McLachlan to lead Tabcorp as new CEO

Former AFL boss Gillon McLachlan to lead Tabcorp as new CEO

After speculation was quashed that he would be joining Racing Victo...