Just two weeks ago, news surfaced that Caesars Entertainment was in talks with Chinese-owned ASF Consortium in regard to their Queensland casino resort project. Reportedly, Steve Tight, the head of international development of Caesars Entertainment, had been seen in the Gold Coast and was supposedly there to discuss the gaming operations of the proposed venue. It seems the speculation has been validated as it has now been confirmed that Caesars Entertainment has partnered with ASF Consortium in the development of the Gold Coast waterfront venue.
According to The Australian, the Las Vegas based company has signed an agreement with ASF Consortium to begin due diligence and set commercial terms as the operator of the casino. This project will be the second casino in the area, with ASF having won the exclusive rights to create a gaming and entertainment venue four years ago when a deal was set with the Queensland government regarding a regional casino. However, plans halted due to local protests as well as uncertainty by the government when it comes to the heights as well as densities for development.
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Louis Chien is the ASF Group director who stated that the state government must now get behind the project and define what will be needed for it to move forward. Chien stated that ASF would select a casino operator as part of a detailed proposal and they have investors and people waiting. They are waiting for the government to come to the table and provide clarity.
According to The Australian, when Caesars Entertainment was on the Gold Coast earlier this month, the company was completing the first round of assessments on the market opportunities in the region. Caesars Entertainment has yet to move past a chapter 11 bankruptcy filing but with restructuring earlier in the year has stated they are not ready for an aggressive international expansion, with the company seeming to have their sights on the Gold Coast.
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With a casino operator in place, the government would most likely feel more certainty in the project and with casino-licensing checks, the development could move forward.