Echo, Crown step up fight for Brisbane casino license

The two rival consortia competing for a license for a casino in downtown Brisbane said they have both lodged their detailed bids with the Queensland state government.

James Packer’s Crown Resorts has teamed up with China property developer Greenland Group in its attempt to win the license.

“When I walked around the Queen’s Wharf last year, I could see the tremendous tourism opportunity the site offered,” Packer said in a release to the Australian Stock Exchange. “With Greenland, we are fully committed to building something truly spectacular for the people of Brisbane, Queensland and the world.”

A rival consortium led by incumbent casino operator Echo Entertainment also said it had lodged its detailed bid. Echo has teamed up with Hong Kong groups, Chow Tai Fook Enterprises and Far East Consortium International.

The government is expected to announce the winning bidder in early 2015. No details of the plans were available.

The groups are bidding for one of three licenses being offered by Queensland in an effort to boost tourism revenue.

The two others are for regional licenses, with billionaire Tony Fung’s Aquis Group planning to build a massive $8.1 billion ($7.6 billion) resort near Cairns, while the second is a plan from ASF Consortium for $7.5 billion development on the Gold Coast.

 

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