• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Brisbane casino bid win announced mid-2015: minister

Dec 26, 2014 Newsdesk Latest News, Top of the deck, World  


Brisbane casino bid win announced mid-2015: minister

The winning bid for a casino resort licence at Queen’s Wharf in downtown Brisbane, Australia, is unlikely to be announced before the second quarter next year, report several media sources in the country, quoting a senior politician in the state of Queensland.

One reason is the time it will take to conduct the necessary probity checks into the bids, said Jeff Seeney, deputy premier and state development minister. Additionally, the result is unlikely to be announced before the state election expected by the end of March.

Two of the leading contenders for Queen’s Wharf are consortia involving respectively Australian casino operator Crown Resorts Ltd and market rival Echo Entertainment Group Ltd. Both of the groupings have Chinese partners.

Echo Entertainment in June told the Australian Securities Exchange it had signed a binding memorandum of understanding with Chow Tai Fook Enterprises Ltd for its bid. The latter privately held firm was founded by Cheng Yu Tung. Chow Tai Fook Enterprises is also reported to be interested in pursuing a casino scheme in South Korea and one in Vietnam.

Hong Kong billionaire Mr Cheng is a long-standing investor in Macau casino investor SJM Holdings Ltd’s parent company Sociedade de Turismo e Diversões de Macau SA. Both the latter firms were founded by Stanley Ho Hung Sun.

In July Crown Resorts – already a joint venture investor in the Macau and Philippines casino developer Melco Crown Entertainment Ltd – said it was teaming up for its Brisbane bid with a subsidiary of mainland China’s state-owned property developer Greenland Holding Group Co Ltd.

In November it emerged that the authorities in another Australian state – New South Wales – had imposed a condition on a new casino licence for Crown Resorts in Sydney preventing the firm from having “any new business activities or transactions of a material nature” with Stanley Ho or “a Stanley Ho associate”.

At the end of 2013 Queensland – Australia’s most indebted state – invited expressions of interest for the redevelopment of Queen’s Wharf – a former commercial district of Brisbane, the state capital. The site comes complete with 700 metres (0.43 miles) of river frontage.

Bidding for the site is likely to run into many tens of millions of Australian dollars, plus development costs.

The Echo design includes an arc-shaped building (pictured in an artist’s rendering) with a sky deck, restaurants and bars. The Crown plan includes three hotels and a large rooftop garden.


  • tweet
Related articles
  • Crown Sydney gaming start delayed amid op suitability issue
    Crown Sydney gaming start delayed amid...

    Nov 18, 2020  

  • Melco Resorts, Crown considered full merger in 2019: Packer
    Melco Resorts, Crown considered full...

    Oct 07, 2020  

More news
  • Digital yuan eventually for Macau mass bets mulls Bernstein
    Digital yuan eventually for Macau mass...

    Jan 22, 2021  

  • Macau Covid-19 case no bar to mainland travel ties says govt
    Macau Covid-19 case no bar to mainland...

    Jan 22, 2021  


Latest News

Digital yuan eventually for Macau mass bets mulls Bernstein

Digital yuan eventually for Macau mass bets mulls Bernstein

Jan 22, 2021  

Were China’s central government-backed digital yuan (CNY) to be adopted in Macau for casino chip transactions, it could in the long run benefit mass and premium-mass play, as cross-border money...
Read More
Macau Covid-19 case no bar to mainland travel ties says govt

Macau Covid-19 case no bar to mainland travel ties says

Jan 22, 2021  

Mohegan seeks govt nod to delay Inspire opening

Mohegan seeks govt nod to delay Inspire opening

Jan 22, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The entire company is eagerly anticipating the launch of our newest themed destination – The Londoner Macao"

Wilfred Wong Ying Wai

President of Macau-based casino operator Sands China



Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Casino op MGM China to pay most staff discretionary bonusCasino op MGM China to pay most staff discretionary bonus January 18, 2021
  • Wynn and Melco also flag bonus for Macau staffWynn and Melco also flag bonus for Macau staff January 19, 2021
  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Investors see 2H Macau gain, rebound 2022: BernsteinInvestors see 2H Macau gain, rebound 2022: Bernstein January 19, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us