Rival Australian gaming companies Crown Resorts Limited and the Echo Entertainment Group have submitted separate proposals to develop a casino in the Queensland city of Brisbane.
The Queensland government recently earmarked prime waterfront real estate in Brisbane’s central business district for a new gambling and entertainment resort. Upon completion, this complex will occupy a place on the historic Queen's Wharf, an international tourist destination that preserves and celebrates Brisbane's rich legacy while supporting a wide range of heritage buildings, government institutions, and beautiful public spaces.
Both Echo Entertainment and Crown Resorts placed final bids for the casino project on Tuesday, October 28th. According to its comprehensive public proposal, Crown plans to work with its Chinese consortium partner, the Greenland Group, to build a six-star hotel and casino at the proposed site.
Echo reported that it was unable to disclose any specific details about its proposal due to the confidential nature of the government bidding process. However, Echo’s chief executive officer Matt Bekier assured Brisbane residents that the company “put forward a responsible offer that delivers a truly iconic precinct.” He also predicted that the Queen's Wharf project would be a major string to Echo’s bow.
No matter which company ultimately wins the development bid, the moneymaking potential of the proposed Brisbane casino is bound to be significant.
The Queensland government will be completing an extensive evaluation process over the next few months in order to assess each proposal in detail. The preferred plan will be announced in the first part of 2015.