Wednesday, August 17, 2022

QLD government axes ASF's Spit casino proposal


The Queensland Government has rejected the ASF Consortium-proposed integrated resort development at the Southport Spit, local media reports.

Queensland Premier Annastacia Palaszczuk said The Spit region of the northern Gold Coast was “unique” and wanted it preserved as parkland for future generations, according to a report from The Australian.

“There is a bright future here on the Gold Coast but that bright future also involves keeping this area,” she said. “Time and time again people have raised with me how much they love this area.”

The ASX-listed ASF Group will continue to have the opportunity to bid for a casino license in the Gold Coast, but it will no longer have the opportunity to develop a casino resort on the Spit site.

Palaszczuk said possible compensation for ASF would be discussed further following Monday’s Cabinet decision.

“I don’t have those details, that’s a matter that will be discussed with Crown Law but we have made this decision,” she said. “I honestly believe that we have made the right decision. We have listened.”

Earlier this week, it was reported that Caesars Entertainment signed an agreement with the ASF Consortium to progress due diligence and commercial terms as a potential casino operator for the city’s second casino.

Caesar’s president of international development, Steven Tight, declined­ to comment “on rumour or speculation”, but said: “It’s accurate to say we are continuing to study the ­opportunity.”

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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