Echo wins Brisbane casino development
The Echo Entertainment Group consortium is to build a new Brisbane casino. The multibillion-dollar Queens Wharf development will stretch 10 blocks across the far end of the city.
The successful Destination Brisbane Consortium partners are Echo, Chow Tai Fook Enterprises and Far East Consortium (Australia) P/L.
Premier Annastacia Palaszczuk said the independent panel that finally made the decision was impressed by the large amount of public space the Echo-led bid included (a promised 12 football fields!) plus the greater number of restaurants and the four, five and six-star hotel options.
Ms Palaszczuk said, “The probity checks, as well as the consortium was able to demonstrate to the government that they are ready to proceed. We needed to have that financial security but also we wanted to minimise any risk.”
“The LNP former government did start this process but it is my government that is delivering and we will make sure that there is rigorous oversight with the construction going forward and we’ll make sure that there are a lot of opportunities for Queenslanders to get jobs in this integrated resort development,” she said.
The unsuccessful bid was presented by rival Crown and its Chinese partner the Greenland Holding Group. Originally a decision was to have been announced early in 2015 but that all changed when the Palaszczuk government took power after the election.
Construction is due to begin in 2017 and is expected to take between six and 10 years.
Echo’s win will transform the Treasury building into a boutique department store and hotel, plus an underground shopping mall, Arc signature building with publicly accessible skydeck containing restaurants and bars, five new hotels, with three to be rated six stars, a riverfront moonlight cinema, a new theatre at South Bank called The Landing and a cross-river pedestrian bridge to access it, three residential towers, 50 food and drinks outlets and “12 football fields” of public space
Echo Entertainment CEO, Matt Bekier, told Resort News, “Echo Entertainment Group, on behalf of our Destination Brisbane Consortium partners Chow Tai Fook Enterprises and Far East Consortium, welcomes the Queensland government’s decision to progress our proposal for the transformational redevelopment of Queen’s Wharf Brisbane.
“This is an exciting announcement for us, and for Queensland, when you consider the infrastructure, job and public amenity opportunities that are part of the overall Queen’s Wharf plan. We’re delighted the government shares our vision to develop Queen’s Wharf Brisbane into the best integrated resort in Australia, and one for which Brisbane will be globally recognised. It will be an asset for this state that will compete with anything around the world – a development of which the people of Brisbane will be immensely proud.”
Echo’s Queen’s Wharf project is predicted to bring an extra 1.39 million overnight tourist visitors to Queensland every year.
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