casino licence currently operational in Queensland<\/a><\/em><\/strong>, had been willing to offer a AU$2.2 billion (US$1.5 billion) investment in tourism and housing development in exchange for a 30-year monopoly in the state in order to see off the potential challenge of a second casino.<\/p>\n\n\n\nThe state’s development ministry decided that offer did not offer value for the tax payer, but that it would not be reviving plans for a second casino.<\/p>\n\n\n\n
Queensland development minister Kate Jones said: \u201cGlobal market conditions are clearly impacting investment at present and I can confirm that this government has no intention of reviving the market process for a new integrated resort \u2013 including a second casino \u2013 on the Gold Coast.\u201d<\/p>\n\n\n\n
The Star Entertainment Group said that despite an end to talks on an exclusivity agreement, it will go ahead with its proposed investment in the state depending on conditions.<\/p>\n\n\n\n
Group chairman John O\u2019Neill said: \u201cInvestments in Queen\u2019s Wharf Brisbane alongside those on the Gold Coast where we\u2019ve refurbished The Star Grand hotel, opened The Darling hotel and have the Dorsett hotel and apartments tower under construction are proof of our commitment to creating world-class tourism and entertainment destinations that will bring more than a million additional visitors to Queensland every year.<\/p>\n\n\n\n
\u201cWe have confidence in the future of tourism and, under the right conditions, will continue to invest through our $2 billion-plus Gold Coast masterplan that will help government deliver further significant economic benefits for Queensland including thousands of jobs.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The state of Queensland has dropped plans for a second casino in the state due to lack of interest from investors.<\/p>\n","protected":false},"author":2,"featured_media":8071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Queensland state government has abandoned plans for a second casino due to insufficient investor interest, despite previously rejecting an exclusivity offer from The Star Entertainment Group. While The Star's proposal for a 30-year monopoly in exchange for a AU$2.2 billion investment was deemed not to offer value for taxpayers, the government will not revive the market process for a new integrated resort. The Star Entertainment Group indicates it will proceed with its proposed investment under favorable conditions.","focusai_entities":"Queensland state government, The Star Entertainment Group, Kate Jones, John O'Neill","focusai_location":"Australia, Queensland, Gold Coast, Brisbane","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), operator_casino (0.95), investor_analyst (0.92), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Star's Investment Conditions?","query":"What are the specific 'right conditions' The Star Entertainment Group requires to proceed with its AU$2 billion-plus Gold Coast masterplan, following the rejection of its exclusivity bid?"},{"label":"Impact on Queensland GGR?","query":"How will the absence of a second integrated resort impact Queensland's projected Gross Gaming Revenue (GGR) and broader tourism economic benefits over the next decade?"}],"footnotes":""},"categories":[16336,157],"tags":[289,21815],"class_list":["post-8069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-australia","tag-the-star"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8069"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8069\/revisions"}],"predecessor-version":[{"id":21837,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8069\/revisions\/21837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8071"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}