The proponents of the casino confirmed that the facility could be partially owned by China’s government.
Australia.- ASF Consortium, the Chinese company behind the proposed integrated resort in the Gold Coast, Queensland, confirmed that the project could be partially owned by the Chinese government.
Louis Chien, ASF director, said to an Australian TV show that the China State Construction Engineering Corporation (CSCEC), owned by the Chinese government and operator of construction and real estate business could be involved in the project: “That is not out of the realm of possibility. There are no rules or guidelines that say state-owned enterprises cannot have equity stakes in these type of projects.” The proposed casino could generate approximately US$545 million annually once fully operational. Furthermore, the Gold Coast casino could attract an extra 2.1 million visitors every night.
The US$3 billion resort needs the approval from the Queensland government to start the construction process, but officials estimate that it could begin as soon as April 2018. The Southport Split integrated resort will be constructed on a 5 hectare waterfront that is located near the Gold Coast Fisherman’s Co-operative, and is expected that it will boost the economy when all the facilities are open to the public.