Australian casino operator Star Entertainment Group is calling for a 30-year monopoly in the state of Queensland in exchange for its planned A$2 billion investment to upgrade its Gold Coast casino and convention center, according to a new report in The Australian.
This follows the October comments of Star Entertainment Group Chairman John O’Neill that “Star’s position has always been – we support investment in tourism assets on the Gold Coast – but the Gold Coast market is too small for two casinos.”
This was in response to the Queensland government’s earlier proposal to issue a second casino license, something which has drawn significant interest from Hard Rock, Melco, and Galaxy.
The new report indicates that in direct negotiations that began in November, Star made its 30-year exclusivity demand, although it seems that the government is not inclined to accept this approach.
It is believed that a final resolution of this matter will not come until next year.