The Government of Queensland announced 19 bidders will be competing for the state’s three casino licenses.
Casino developers are preparing to compete for the licenses made available under Australian gambling laws. Up to three new casino resorts are expected to be built in the state of Queensland, in the next few years.
The state government is looking to offer more tourist attractions in the area, including gambling venues targeted at Asia’s big spenders, in an attempt to compete with other popular destinations such as Macau or the Philippines. At the moment, Australia’s gambling industry only attracts 1% of Asian high-rollers, who spend an estimated US$34 billion per year.
Both local and foreign companies are interested in the offer and the local authorities have received a total of 19 bids.
The casino battle is on!
The biggest competition is over the central Brisbane casino spot, which 12 companies have looked at. According to local gambling news, Echo Entertainment Group, which already operates a casino in the city, and Crown Resorts are both interested.
The other seven potential bidders are considering building resorts in regional Queensland. Chinese tycoon Tony Fung has announced a A$4.2 billion project in Cairns.
The deadline for the formal expression of interest is March 31, while detailed proposals are expected to be presented later this year.