QUEEN'S WHARF CASINO ENTERS NEXT STAGE

QUEEN'S WHARF CASINO ENTERS NEXT STAGE
BIG players have lodged formal expressions of interest in creating a new casino at Queen’s Wharf, with Echo Entertainment Group (EGP) and Crown Resorts (CWN) not the only candidates.

The Queensland Government announced yesterday that six companies have shown interest in developing casinos at the precinct, while another six are vying for licenses in two Queensland regional centres.

In addition to attracting EGP and CWN, Queen’s Wharf has also appealed to other national and international companies alike, including Far East Consortium/Chow Tai Fook Enterprises, Lend Lease, SKYCITY Entertainment Group and Greenland Investment.

The opportunity for a Queen’s Wharf casino license was first proposed by Premier Campbell Newman in the Integrated Resort Developments project on October 14 last year.

Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney (pictured) says the development is in keeping with the election promise to boost tourism and construction.

“We are committed to establishing high quality integrated development that will be draw cards for both international and domestic visitors and provide employment for thousands of Queenslanders,” said Seeney.

Seeney said proponents could pay $100,000 to lodge formal interest in the projects until March 31, with the next step being stringent viability assessments until the end of the year.

“Under the close eye of Probity Adviser Len Scanlan, my Department will now consider the EOI applicants announced today to prepare a final short-list by the middle of this year,” he said.

“Then short-listed applicants will be asked to prepare fully-fledged proposals for submission by late 2014.”

It is expected that licenses will be announced by mid-2015.

Brisbane-based EGP, which owns Brisbane’s only casino the Treasury, declined comment earlier today about its application due to the process being in its preliminary stages. 

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