AU$3bn casino project folds as Queensland Government seeks to protect Gold Coast
A massive resort and casino complex proposed by Chinese investors has been turned down by Queensland’s government amid environmental concerns.
ASF was lining up development on the Spit at Southport on the Gold Coast, but it was the choice of location that resulted in the proposal being rejected. The project plans consisted of five towers comprising a casino and accommodation, among other amenities.
A casino is not being rule out entirely, as the licence remains valid, however, development on the Spit is restricted to three stories.
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Queensland Premier Annastacia Palaszczuk said: “This part of the GC is unique to qlders and unique to the world…This part of the GC is unique to qlders and unique to the world.”
Major concerns cited include traffic congestion and how this may result in local residents paying higher levies. The new road development would also allegedly act as a blot on the landscape.
While the project would have created large numbers of jobs, the Queensland government has made it clear it wishes to preserve the natural environment of this part of the Gold Coast for generations to come.
It has not been determined how much compensation is going to be paid to ASF in light of the decision.