Queensland begins a licensing process

The new bidding process will grant a license of a third casino in the State.

The authorities of the Australian State of Queensland began the licensing process to name the future operator of a third casino.

Australia.- Queensland authorities have announced the beginning of the bidding process to select the future operator of a third casino in the Australian State. The new project would replace the failed venue that was supposed to be installed by the Aquis Group, backed by Hong Kong investor Tony Fung.

The Queensland’s government was expecting the investment of US$6.2 billion from the group. However, as the proposal was dismissed, the David Edwards project CEO of State Development commented that a new casino of about US$383 million would be “far more realistic.”

The casino market in Queensland would be boosted by Chinese visitors, although the CEO considers that “any expectation of 30 to 40 percent of revenue from Chinese tourism is unrealistic.” Edwards revealed the government’s expectations on the industry during the ASEAN Gaming Summit, which started yesterday.

Furthermore, both Asian and North American casino companies have been showing interest in developing the regional industry, according to Edwards. Queensland authorities have already granted two gaming licenses to Australia’s Star Entertainment and ASF Group in order to operate casinos in downtown Brisbane and in the Gold Coast, respectively.

Gaming industry in the State has been chosen by the government as the potential market to improve the Australian and foreign tourism sector and to increase the business competition.