On Monday 14 October 2013, an Expression of Interest (EOI) for an Integrated Resort Development (IRD) was released as part of the Queen's Wharf Brisbane (QWB) offer to market, with a casino licence also on offer to the successful proponent. At the same time two additional casino licences were released through a separate tender process seeking other Integrated Resort Developments in regional Queensland.
Several entities put forward proposals for the Integrated Resort Developments, with six bids considered for the regional developments alone.
Aquis at the Great Barrier Reef Pty Ltd (Aquis) and ASF Consortium Pty Ltd were each selected for the two available major regional Integrated Resort Developments to be located in Cairns and on the Gold Coast.
Benefits of an Integrated Resort Development
Integrated Resort Developments offer outstanding opportunities for Queensland to enhance its tourism offerings. Such developments can support major events and reinvigorate key locations across the state for entertainment and recreation to both locals and visitors alike.
In Queensland, tourism contributes $23 billion to the state's economy and supports over 230,000 jobs.
The Queensland Government is committed to supporting the growth of the tourism sector.
Integrated Resort Developments can help achieve this goal by contributing to increased international tourism and boosting the state's economy through tourism and construction.
Criteria for future Integrated Resort Developments
On 16 March 2016, it was announced in State Parliament that if one or both of the current regional IRD proposals are not delivered, the Government may go back to the market to seek expression of interest.
Any new regional integrated resort proposal must:
- include significant capital investment to create a development that attracts international tourists, where construction commences within 18 months of contractual close
- be located within close proximity to a major population centre with a catchment of at least 150,000 people within a 70 kilometre radius of the regional centre
- be near an operational international airport or an airport that is capable of being upgraded to international standards
- have well-established transport networks and significant existing tourism infrastructure with identified growth potential.
For further information on Integrated Resort Developments please contact us.