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ASF’s Gold Coast casino continues to go ahead

Gold Coast developers say they will continue to plan for a second casino, despite opposition from the city’s clubs and hotels.

In August last year, the Queensland state government gave the green light for the Chinese-backed ASF Consortium to start planning construction of a $2 billion integrated resort on the Gold Coast’s Main Beach.

State Development Minister Anthony Lynham said ASF would produce a detailed master plan of requirements and timeframes by 16Q1, which would be followed by a “detailed public consultation.”

Two months ago, the state government indicated if any of its regional licences for casinos was to no longer go ahead, it was prepared to go back to the market, with several developers eyeing these applications.

Dr Lynham said the Government was continuing negotiations with ASF and a preliminary proposal was expected soon.

A development source close to major projects said: “All these new casinos, they’re not about targeting the local clubs…They’re about attracting new markets which include the Asian travellers.”

“This is about getting the Chinese middle-class on cheap airfares to the Gold Coast to play the baccarat tables.”

The proposed casino would compete with Jupiters Hotel and Casino, owned by Star Entertainment, which in February announced plans to build a second tower at its Gold Coast Jupiters Casino site, in addition to its A$345 million refurbishment of the existing hotel and the 17-story luxury tower currently under construction.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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