QLD’s mega-casino fails

Monday, 24 November 2014

From the AFR:

Hong Kong billionaire Tony Fung said he is still committed to building the $8.5 billion integrated casino resort at Yorkey’s Knob in Far North Queensland, despite failing to acquire the Reef Casino in Cairns.

…The acquisition of the Reef Casino was crucial to Mr Fung’s plans as the Cairns casino licence was a fall-back if probity checks failed on the Aquis Resort.

Aquis said it could not meet the deadline for regulatory approvals for the Reef Casino due by this Friday.

I’m sure Comrade Campbell can come up with something.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.