RAJ REPORT

Why we need to create a new State in NORTH QUEENSLAND———Aquis will not be given approval until the Casino in Brisbane is finalized—–We are being held ransom to Brisbane again and the war between Echo and Crown——————-The war for Australian casino supremacy between Crown and Echo began earlier in 2013 when the New South Wales state government received bids for a new casino and resort developments, ultimately deciding on Crown’s pitch for a high roller room and a new $1 billion luxury hotel. The NSW state governement decision was a plow for Echo, which had planned a $1 billion dollar expansion of its existing Star Casino.———–Gavin King has just been thrown under the bus and will loose his seat at the next election

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Following talks in Brisbane on Thursday with senior government officials, including Acting Premier Jeff Seeney, the Fungs decided to halt any further development work to focus on the integrated resort casino licence application.

But Cairns Mayor Bob Manning called on the State Government to work quickly to ensure Aquis got the go-ahead this year.

While he respected due process, he said “a deal of this significance has to be closed quickly”.

“Aquis is the most significant investment in the history of Cairns,” Cr Manning said.

On hold: Aquis $4.2bn mega resort and casino proposal at Yorkeys Knob on hold with red tape blamed | Business News | Business and Finance News | | Cairns Post.

Echo is in a war with Crown, controlled by billionaire James Packer, over attracting a larger slice of the booming Asian tourist and gambling market.
Australia currently has 13 casinos, which only capture just one per cent of the $34 billion market for high-rollers in Asia. New casinos being green-lit in Queensland hope to boost that figure.

The war for Australian casino supremacy between Crown and Echo began earlier in 2013 when the New South Wales state government received bids for a new casino and resort developments, ultimately deciding on Crown’s pitch for a high roller room and a new $1 billion luxury hotel. The NSW state governement decision was a plow for Echo, which had planned a $1 billion dollar expansion of its existing Star Casino.

Echo shares were down 4.7 per cent at $2.45, in afternoon trade, having earlier fallen as low as A$2.28, as Echo also said subdued discretionary spending continues to impact its revenue growth.

Queensland state has four casinos currently, with Echo owning three in Brisbane, Gold Coast and Townsville, and Reef Casino Trust owning the Reef Hotel casino complex in Cairns.

The Queensland government said last month it planned to offer up to three new casino licences, with just one of those earmarked for Brisbane – leaving Crown and Echo in direct competition again.



Read more: http://www.australiangambling.com.au/gambling-news/echo-entertainment-announces-1-5-billion-brisbane-casino-upgrade/25680/#ixzz2q36ZzvUE 
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