Brisbane joins Asia-Pacific’s IR scene

IT’S game on in Australia where the city of Brisbane wants to attract Asia-Pacific’s gamblers with a ‘Singapore-style’ integrated resort.

Singapore’s The Straits Times reported earlier this week that the resort will be constructed on prime waterfront land at the Queen’s Wharf precinct to the tune of A$1 billion (US$780.8 billion).

The resort, which Queensland’s department of state development said draws on inspiration from Singapore’s Marina Bay Sands, will include luxury hotels, function centres, F&B outlets, residential units and a pedestrian bridge, as well as gaming facilities.

Competition for rights to operate the development has been intense. Crown Resorts, alongside China’s Greenland Holding is going neck and neck with Echo Entertainment that is partnering Hong Kong’s Far East Consortium International and Chow Tai Fook Enterprise, said the Straits Times report.

Australian casino giants Crown Resorts and Echo Entertainment are competing neck-and-neck for managing rights to the development, which is expected to bring in 1.4 million more visitors to Australia a year and create thousands of jobs.

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