NagaCorp reportedly interested in Queensland casino project

Now that there’s a vacant casino license, international casino operators are eyeing opportunities to expand into the Queensland market.The group behind the A$3-billion Gold Coast project was Chinese-backed ASF Consortium.

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In 2014, the team of investors was chosen as the preferred developer of an integrated resorts.

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It first proposed a A$7-billion complex on the man-built Wavebreak Island in the Gold Coast Broadwater. The project was dismissed for environmental reasons. ASF Consortium then came up with the Gold Coast Integrated Resort plan, which consisted of a five-tower hotel, casino, and entertainment complex on Gold Coast’s Southport Spit. Just recently, that project failed to receive government approval.

With the Gold Coast license being vacated, Cairns could be home to an integrated resort.

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Under previous plans, a property like this was to be built in the city's Yorkeys Knob suburb.

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A group of investors, led by Hong Kong’s Tony Fung, had proposed to build a 340.6-hectare site in the area. The property would have featured a casino. However, the gambling portion of the project was scrapped and it did not take long before the multi-billion scheme was abandoned altogether.

Media reports say Fung has renewed efforts to build a resort in Cairns after the ASF Consortium plan was rejected by the government.