A proposed AU$3 billion integrated resort development to rival The Star on Australia’s Gold Coast holiday strip has been rejected by the Queensland state government.
The shock decision was announced by Queensland Premier Annastacia Palaszczuk on Tuesday following months of community consultation, with any future development of the proposed site in an area known as The Spit to adhere to strict planning rules.
“This is a unique site – the equivalent to what Central Park is to New York. It should be preserved for generations,” Ms Palaszczuk said, noting that any development of The Spit should remain below a three-story limit.
“What The Spit really needs now is a master plan to revitalize it and increase its benefit to the Gold Coast as a community asset.”
The original plan by Chinese Consortium ASF Group had included five hotel towers as well as a casino, retail outlets and restaurants among other amenities. The group had been in discussions with Caesars Entertainment as a potential partner.
Ms Palaszczuk said the government was still open to an integrated resort development but that any such project would require revised plans.
While the decision comes as a huge blow to ASF Group, it is a bonus for Star Entertainment Group which is currently in the midst of a major upgrade to its Star Gold Coast property, including a new hotel tower with VIP gaming facilities.
In an exclusive interview with Inside Asian Gaming in the current August edition, Star Entertainment Group CEO Matt Bekier described the Gold Coast as a key asset in attracting Asian visitors to Australian shores.
“The Gold Coast is a fantastic opportunity, particularly when you consider tourism there,” Mr Bekier said. “When you think about what Asian tourists are looking for, it’s the quintessential Australian experience, shopping is important, food is important, value for money and we have all of that on the Gold Coast.”
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