Aquis to Construct an 8 Billion Resort in Cairns
The CEO of Aquis, Justin Fung is optimistic that his company is about to be approved and issued with one of the three casino licenses in Queensland. Aquis has embarked on a project to construct an A$8 billion integrated resort in Cairns. It's also reported that the company would be seeking to be issued with a casino license for its Sheraton Mirage restaurant on the Gold Coast.
Last year, Aquis was the favorite bidder to start operating a casino at Yorkeys Knob in the city of Cairns. At the moment, it's unclear if the company has the ability to proceed and construct its luxury property because there is a new government. The officials at Queensland hinted out that Aquis would first get all relevant approvals in relation to materials needed in its project. However, the new administration has delayed the approval process but the CEO is still confident that they would succeed.
While addressing the media, the executive said they have been holding negotiations with the state government concerning this issue, but there are several things that need to be sorted out. In 2013, the former government of Queensland announced it had plans to issue three casino licensed in this area. Echo Entertainment was awarded the bid to construct an integrated resort at Queen's Wharf in Brisbane. Later on, ASF Consortium and the state government signed a land deal that would be used to construct a luxury restaurant and casino property on the Gold Coast.
In the past, Aquis has been focusing on buying the Sheraton Mirage restaurant, which is located close to the proposed site of ASF integrated resort. Different sources are suggesting that the gambling operator will continue to push for this license so as to include it at the restaurant. Mr. Fung said that they have confidence in ASF as the favorite bidder for the Gold Coast casino venue. Also, the CEO said that his company is doing everything possible to have an impressive gambling project should the ASF Consortium barred to continue with its plan.
Fung still thinks that Sheraton Mirage hotel is the most favorable site for a future casino. Aquis has set aside $160 million to purchase the property and build an A$8 billion mega resort with a large gambling floor, over 7,000 hotel rooms and several entertainment joints. This resort is expected to attract about one million guests annually and in the process boost the economy of this region.