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 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.
Integrated Resort Developments current status
- ASF Consortium Pty Ltd
The ASF Consortium Pty Ltd was selected for one of the two licences available to be located on the Gold Coast for the land between Sea World and the Gold Coast Fishermen's Co-operative. The submission for an Integrated Resort Development on the Gold Coast is currently being assessed by the Department of State Development.
- Aquis at the Great Barrier Reef Pty Ltd (Aquis)
On 22 August 2016 Aquis formally notified the State of its withdrawal from the Integrated Resort Development (IRD) process and that it was no longer seeking a casino licence for its Aquis at the Great Barrier Reef development at Yorkeys Knob in Cairns.
As a result, the Aquis proposal for an IRD at Yorkeys Knob, has been reshaped to focus on a $2 billion residential and tourism development with luxury hotels, apartments and villas.
The Government continues to work with Aquis, given the jobs and opportunities on offer from this reshaped proposal.
Aquis is now working with the Department of Local Government, Infrastructure and Planning, Office of the Coordinator-General and Cairns City Council to obtain the required development approvals.
- Additional regional casino licence
On 16 March 2016, it was announced in State Parliament that if one or both of the current regional IRD proposals do not go ahead, the government may go back to the market to seek expressions of interest for the available regional licences. That decision is yet to be made.
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
Any new regional Integrated Resort Development 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.