Tony Fung moves closer to realising his mega resort dream
Tony Fung the Chinese billionaire is moving closer to his dream of a $4.2 billion casino resort in the north of Queensland Australia.
In a report by Queensland’s Coordinator-General Barry Broe issued this week outlining the steps needed to be taken to gain approval. In total there are 56 submissions on work to be carried out including residents flagging flooding, water quality, drainage, water and sewerage utilities and road infrastructure as critical issues.
Should all the needed criteria be carried out to the approval of the state, the casino resort could be worth over $2.8 billion each year to the local economy once built and operational.
The resort planned to be built at a seaside location in Cairns will include 9 luxury hotels, casino, 18 hole golf course, cultural centre and a 25,000 seater sports stadium.
Mr Fung has said he won’t be asking the state government to contribute funds to the project.
“I only seek investment certainty from an approval process,” he said in his submission.
He said the resort would rival great man-made structures in Dubai and Singapore and attract big spenders from China.
Should all approval be given to the casino resort complex it is scheduled to be complete by 2018.
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