Caesars to manage multi-billion casino on Gold Coast
ASF won an exclusive right four years ago to deal with the Queensland government for a regional casino but plans have stalled amid local protests and government uncertainty over heights and densities allowed for development.
Caesars Entertainment visited the Gold Coast this month and is understood to have completed a first round of assessments on the Glitter Strip’s market opportunities. Its president of international development, Steven Tight, declined to comment “on rumour or speculation”. “It’s accurate to say we are continuing to study the opportunity,” he said in a report quoted by The Australian website.
While part of the Caesars Entertainment company is yet to emerge from chapter 11 bankruptcy, the US’s biggest casino owner restructured its business early this year and says it is set for an aggressive international expansion that could bring its razzle-dazzle stage shows to Australia’s glitz capital.
The backing of the casino operator would provide greater certainty for government probity and casino-licensing checks should the development proceed, given that ASF’s backers include Chinese state-owned companies.
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