Due to gambling restrictions in mainland China, some state-owned firms are looking to build casinos in certain areas of Queensland.
Gambling news reports that Queensland Deputy Premier, Jeff Seeney, stated that Chinese government-led property firm Greenland Investment had been chosen to build a six-star resort in Brisbane.
Additionally, further projects have been approved for ASF Consortium, another Chinese property group, to develop a casino with a cruise ship terminal on the Gold Coast.
The Deputy Premier believes that the casino projects will help attract wealthy gamblers and tourist alike to Queensland. He also highlighted that the Chinese companies would have to be transparent in their development approach.
Nick Xenophon worried about the negative sides of the casinos
Nick Xenophon, independent senator of South Australia, has expressed his concern about the opening of new casinos in the Eastern state. He is worried that the presence of multiple casinos will lead to gambling problems within the general population.
“A gambling-led recovery is an oxymoron. It will suck money away from small businesses and it will lead to an increase in problem gambling.”
He further stressed that the Chinese firms will be looking to capitalize from the Australian market and take the money out of their pockets, as Chinese gambling laws do not allow such actions on the mainland.
“It’s pretty curious that gambling is banned in mainland China but state-owned enterprises are planning to make a quid off the backs of Australian punters.”