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Fight For $1 billion Queen’s Wharf New Development Site

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and Echo Entertainment Group formalised round two of their rivalry last Tuesday, with both companies saying they have met the deadline for bids to build a new casino and entertainment complex in Brisbane.

Both companies are part of joint ventures bidding for the right to build $1 billion-plus resorts at the Queen's Wharf development site, which contains heritage buildings, a number of government buildings and riverfront land.

Neither company would discuss their plans, citing orders from the state government preventing them from doing so.

But in a statement released to the market, Crown chairman James Packer said he was "fully committed to building something truly spectacular for the people of Brisbane, Queensland and the world".

"When I walked around Queen's Wharf last year, I could see the incredible tourism opportunity the site offered," Mr Packer said.

"We look forward to further participating in the Queensland government's process."

Crown Resorts and Chinese partner Greenland Holdings Group wants to develop a six-star hotel and casino at the site.

Echo has joined forces with Hong Kongs Chow Tai Fook Enterprises (CTF) and Far East Consortium to joint bid a new casino license for the Queen’s Wharf site.

Echo expects the state government to announce the successful proponent in early 2015.

Echo already lost the bid for Sydney’s second casino license to Crown, which plans to operate a VIP-only casino from 2019.

Queen's Wharf Brisbane will be the hub that connects the defining parts of the city – the Botanic Gardens, the Queen Street Mall, the Cultural Precinct, South Bank, the Parliamentary Precinct and the Brisbane River.

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Article originally posted at: https://https://theurbandeveloper.com/articles/fight-for-1-billion-queens-wharf-new-development-site