NEW GOLD COAST CASINO AND RESORT REJECTED IN SHOCK ANNOUNCEMENT

NEW GOLD COAST CASINO AND RESORT REJECTED IN SHOCK ANNOUNCEMENT
THE Queensland Government has terminated a planned multi-billion dollar resort and casino on the Gold Coast, saying that there needs to be a balance between environmental and commercial concerns.

The resort, which had the backing of Chinese company ASF, was to have been built on Crown land on the Spit at Southport with a five tower integrated complex including a casino.

Queensland Premier Annastacia Palaszczuk says the decision is based on ensuring the "best long-term solution" for the Gold Coast, and says the Government will move forward with a community-led master plan.

"Like many Queenslanders, I have enjoyed visiting the Spit for decades," Ms Palaszczuk says.

"We need to ensure that character is preserved for future generations. The Spit offers great opportunities for job creation through tourism, entertainment and recreation.

"What the Spit really needs now is a master plan to revitalise it and increase its benefit to the Gold Coast as a community asset."

"To be clear, this is not a decision that rules out a future Integrated Resort Development on the Gold Coast."

The Government says the new master plan will ensure the Spit remains a low-density area with a maximum three storey limit to apply to any redevelopment.

It is expected the master plan will take 18 months to complete.

It's believed that the decision will not affect moves by Gold Coast Mayor Tom Tate to push for construction of a cruise ship terminal in the area.

Business News Australia

Get our daily business news

Sign up to our free email news updates.

 
Unpacking equity: Finding your funding fit
Partner Content
Armed with a growing business and a great opportunity, a business owner’s next challe...
Australian Business Growth Fund
Advertisement

Related Stories

Meta slammed over "dereliction" of commitment to Australian news

Meta slammed over "dereliction" of commitment to Australian news

The decision by Meta (NASDAQ: META) to "deprecate" the Fa...

AF Legal acquires Armstrong Contested Wills & Estates in deal worth up to $3.75m

AF Legal acquires Armstrong Contested Wills & Estates in deal worth up to $3.75m

A year on from the failure of an $11 million merger with Go to Cour...

Childcare veteran Chris Scott scaling up Embark Early Education with $25m acquisition

Childcare veteran Chris Scott scaling up Embark Early Education with $25m acquisition

Embark Early Education (ASX: EVO), a Gold Coast-based childcare cen...

ASIC tips ‘ASX Wolf’ Tyson Scholz into bankruptcy over $500,000 in court costs

ASIC tips ‘ASX Wolf’ Tyson Scholz into bankruptcy over $500,000 in court costs

Social media ‘finfluencer’ Tyson Scholz, widely known a...