Inside Asian Gaming

inside asian gaming August 2014 26 In Focus Queensland Premier Campbell Newman is driving the expansion strategy as his Liberal National Party government, swept into power in an unprecedented landslide in 2012, prepares to face voters by next June. The government has projected a A$2.2 billion deficit for the fiscal year that began 1st July, pushing state debt close to $80 billion. A spokesman for the government’s Department of State Development, Infrastructure and Planning calls the integrated resort initiative “a once in a generation opportunity”. The IRs are intended to complement Queensland’s natural attractions, ranging from the Great Barrier Reef to rugged Outback landscapes to aboriginal culture to wineries dotting rolling hills across 1.9 million square kilometers. But the state may be overplaying its hand. In May the government granted provisional gaming licenses to Hong Kong billionaire Tony Fung’s $8.15 billion Aquis IR near Cairns and Chinese investment company ASF Group’s $4.5 billion Broadwater IR in Gold Coast. For the capital of Brisbane the state shortlisted four groups, now merged to two, including incumbent Echo Entertainment and James Packer’s Crown Resorts, each now with Chinese partners. The government and applicants are being tight-lipped about details of the projects under consideration. Proponents see the IRs as a play on the double-digit growth of Chinese visitors to Queensland and Australia overall. China has become Australia’s second-biggest source of visitors, behind New The Australian state plans to join Asia’s casino boom and fix its ailing economy with destination-scale casinos: A calculated risk or pure wishful thinking? By Muhammad Cohen Big Gamble Q ueensland has Australia’s largest number of casinos, but revenue is flagging. The heavily indebted state government thinks the solution to its gaming funk and sluggish economy and revenues amid falling mineral export prices is to issue three new casino licenses to construct three “world-class” integrated resorts. The projects, with proposed investment exceeding A$17 billion (US$16 billion), would create badly needed jobs, more than 5,000 in construction and 30,000 permanent positions. Jupiters Hotel & Casino , Gold Coast Queensland’s