Gold Coast considers new casino just weeks after axed ASF deal

A new casino development is being considered by the Gold Coast Mayor at Carey and Queens Park just off the Gold Coast Highway, less than three weeks after the Queensland government rejected a $3 billion deal to build an integrated casino resort on the Gold Coast’s Southern Spit with the Chinese-owned ASF Consortium.

Gold Coast Mayor in talks for potential second casino development
Talks for the second potential casino come just three weeks after the ASF’s rejected $3b Southport resort.
Mayor Tom Tate reportedly met with councillors last week in an unofficial meeting to talk about the casino, which is currently planned to be developed on the site of the historic Southport Bowls Club, which is over 100 years old.

Local residents have already expressed their concerns for the new project and the relocation of businesses and sites it would require if approved.

The ASF Consortium’s original proposal prior was to build a five-tower integrated resort housing a casino, six-star hotel and other retail establishments and residential apartments. It was projected to create 4,500 temporary construction jobs and 8,500 ongoing operational job, in addition to attracting an estimated 1.5 million additional tourists annually.

The ASF Consortium have since confirmed they were considering taking legal action against the Queensland government in the wake of the shock cancellation.

“Nothing is off the table, including legal action,” director Louis Chien told ABC Radio earlier this month. “Needless to say, we’re still in shock and deeply disappointed with this government and its snap decision this week.

“I think this decision brings in to question why would any sensible investor, who has choices of where to invest — and the world is a small place these days, you have a lot of choices in terms of where you can invest — even fathom coming in to Queensland under such an uncertain climate?” he said.

Despite the massive setback, the ASF reportedly owns land behind the proposed site for new casino development, and has approval to build a 66-storey tower there. Whether this new proposal goes ahead with serious traction remains to be seen.

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