At the risk of being labeled a negative nay-sayer, this is what the Australian reported 3 days ago. I think it is a good idea to take all the current hype with a grain of salt. I copied the whole article, as the link only works for subscribers. To find the original article, google : queensland-ready-to-roll-dice-again-on-casino-bids/story THE Queensland government has put on notice the two Chinese-backed companies vying to build multi-million-dollar regional casino developments, warning that it could issue a fresh round of gaming licence tenders if proposals do not meet its requirements. Queensland Deputy Premier Jeff Seeney said the government would consider reissuing bids for an integrated resort licence if the short-listed regional proponents failed to meet the probity and government requirements. Mr Seeney said the ASF Consortium’s $7.5 billion Gold Coast Broadwater development and Tony Fung’s $8.15bn Aquis resort north of Cairns faced challenges. “If one or more than one of those proposals is not successful in meeting the criteria, then it is likely that the government would go back to the market,” he said. “It would be opened up again in another market-based process for proponents to put forward expressions of interest.” Mr Seeney said the regional proponents had challenges. “Should either or both of those proponents not be able to meet the criteria …. then the government will reconsider the future of those licences at that point in time,” he said. The Newman government has offered three casino licences to develop major integrated resorts, one at Queen’s Wharf in Brisbane’s riverfront CBD and the other two in regional Queensland. ASF Consortium project director Allan Fife said it was “exceptionally cognisant” of ensuring the future of the “community asset”. “We are confident that, with the substantial, highly experienced team that has been assembled, we can deliver the outcomes the state is seeking,” he said. “We take nothing for granted.” The consortium consists of Australian-listed ASF, Hong Kong-listed China Communications Construction Company and one of its subsidiaries, Guangzhou Dredging, as well as the state-owned China State Construction Engineering Corporation. Aquis believes it will be able to meet the government requirements for its Cairns proposal. Mr Fung, whose family founded Hong Kong’s development and financial services giant Sun Hung Kai — hopes to list Aquis in Hong Kong to raise funds for the 360ha casino resort project. The Weekend Australian understands most of the four other long-listed proponents of regional integrated resorts would bid if a fresh round of licencing was opened. One of the four other regional proponents eliminated in the last round of offers was the $2bn development of Great Keppel Island, which has development and environmental approvals ready to proceed. Tower Holdings chief executive and chairman Terry Agnew said it would welcome the opportunity to work with the government “to deliver a new vision for Great Keppel Island”. Fullshare Group representative Helen Hei said a gaming licence would propel its Whitsundays Laguna project. “We think this opportunity is a very good advantage to fast-track it,” she said. The Weekend Australian also understands the China-Australia Entrepreneurs Consortium would consider resubmitting proposals for a licence. Eastern Success Group, which proposed a cruise ship and casino resort on the northern Gold Coast, could not be contacted. Mr Seeney said there was “not much doubt” the two joint ventures competing for Brisbane’s Queen’s Wharf development would meet government criteria. Detailed requests for proposals are being prepared by James Packer’s Crown Resorts, together with Chinese state-owned Greenland Investment, and the joint venture of Echo Entertainment and Hong Kong development giants Far East Consortium and Chow Tai Fook Enterprises.
Posted on: Tue, 30 Sep 2014 07:12:44 +0000
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