Gaming insights Gaming

Brisbane joins growing casino market

Written by Ben Blaschke

Competition for Asia’s gaming dollars continues to heat up with the Australian city of Brisbane the latest to announce plans to develop a world class integrated resort.

A consortium led by Echo Entertainment – owners of Brisbane’s ageing Treasury Casino as well as The Star in Sydney – and comprising Hong-Kong based business partners Chow Tai Fook and Far East Consortium has won the right to build the new AU$2 billion resort which the government hopes will boost Brisbane’s lagging economy.

An artist's impression of the new development

An artist’s impression of the new development

The spectacular development will cover almost eight hectares and include five hotels, 1,100 hotel rooms, 2,000 apartments, 50 bars and restaurants and 20,000 square meters of retail space.

Echo beat out a rival bid from James Packer’s Crown Resorts, who are currently building a luxury VIP casino at Sydney’s waterfront Barangaroo precinct.

Macau’s gaming downturn has coincided with a rise in fortunes in Australia with The Star in Sydney and Melbourne’s Crown both seeing revenues surge over the past 12 months thanks largely to VIP customers.

Hong Kong billionaire Tony Fung is also planning a new integrated resort to replace the tiny Casino Canberra in the nation’s capital and is pushing ahead with plans for another in Cairns in far north Queensland.