The state government of Queensland posted a statement on Saturday indicating that it was suspending negotiations with the Star Entertainment Group over a proposed thirty-year exclusivity deal.
State Development Minister Kate Jones declared, “Through the exclusive negotiation process for a Gold Coast Global Tourism Hub we worked really hard to extract value from The Star, but the deal on the table did not stack up for taxpayers. We were not able to reach consensus around the terms for long-term casino licence exclusivity.”
She added, “Global market conditions are clearly impacting investment at present and I can confirm that this government has no intention of reviving the market process for a new integrated resort – including a second casino – on the Gold Coast.”
In response, the Star Entertainment Group Chairman John O’Neill said, “Investments in Queen’s Wharf Brisbane alongside those on the Gold Coast where we’ve refurbished The Star Grand hotel, opened The Darling hotel and have the Dorsett hotel and apartments tower under construction are proof of our commitment to creating world-class tourism and entertainment destinations that will bring more than a million additional visitors to Queensland every year.”
He added, “We have confidence in the future of tourism and, under the right conditions, will continue to invest through our A$2 billion-plus Gold Coast masterplan that will help government deliver further significant economic benefits for Queensland including thousands of jobs.”
For several years the government of Queensland has floated the idea of a licensing a second casino resort on the Gold Coast and, although several operators have shown interest, the plans never got off the ground.