Queensland gives nod for two more casinos

The Queensland government has indicated that the two mega-resorts backed by Chinese developers are likely to be given casino licences, which would make Cairns and the Gold Coast the countrys only region with more than one casino.

Deputy Premier, Jeff Seeney said the conditional approval of the six-star resorts in Cairns and the Gold Coast as a boon for overseas tourism.

“These projects have the potential to create thousands of new jobs in these two key tourism centres,” he said.

However there is strong opposition against the new resorts with Tim Costello, chairman of the Australian Churches Gambling Taskforce, saying these regional casinos, in areas of high unemployment, would aggressively compete for local problem gamblers if there was a downturn in international high rollers.

“This is very foolish and shortsighted. It’s madness,” he said.

“Their business model, because they’re never up front about it, is always heavily reliant on local custom.”

It is expected by 2019 Sydney will have two casinos when James Packers Crown Entertainment open the Barangaroo development exclusively for VIP players.

Queensland thou has more casinos than anywhere else in Australia, with four of the country’s 13 gaming venues in the sunshine state.

The Queensland government says the $8.15bn Aquis project planned for Cairns and the proposed $7.5bn Broadwater marine project on the Gold Coast would be granted casino licenses if construction went ahead.

The Australian-listed ASF consortium, backed by Chinese property interests, is behind the Gold Coast proposal, while Hong Kong billionaire Tony Fung is financing the Cairns project.

Both developments are in the pre-planning phase and must obtain a number of planning and environmental approvals before building can begin.