Echo, Crown Make Brisbane Casino Shortlist
The A$1 billion ($930 million) development at Queen’s Wharf is walking distance from Echo’s 123-year old Treasury casino, which the company will turn into a boutique hotel if it gets the second casino.
Two high-profile Chinese property developers, Greenland and Hong Kong Far East Consortium/Chow Tai Fook Enterprises, were also shortlisted. Missing out were Auckland based SkyCity Entertainment and Australian property developer Lend Lease.
The successful bid is announced early 2015. Echo and Crown are already rivals in Sydney where Crown broke Echo’s longtime casino monopoly by getting approval for a $1.3 billion ($1.2 million) development on the Barangaroo waterfront to open in 2019.
Queensland has four of Australia’s 13 casinos. Two Chinese-backed groups, Tony Fung and ASF Consortium, have conditionally been approved to build casinos in Cairns and the Gold Coast, both of which have casinos.