Big Moves for Casino Industry in Australia in 2015

The prosperous, mineral-rich nation of Australia is becoming one of the darlings of the Asia-Pacific casino industry. To this effect, the year 2015 is getting off to a great start for casino players who flock to Australia to enjoy gaming, leisure and luxury entertainment at upscale resorts.

Aquis casinoIn North Queensland, the small coastal community of Yorkeys Knob will be transformed over the next few years into a major destination for tourists in search of luxury casino resort accommodations. According to British newspaper The Guardian, Queensland has awarded an important environmental permit to being construction of the Aquis Great Barrier Reef casino, a mega-resort project that will require $8 billion to develop.

A Major Economic Contributor to the Region

According to Jeff Seeney, Deputy Premier of Queensland, The Aquis Great Barrier Reef is expected to create 20,000 new jobs for Cairns. Tony Fung, a billionaire from Hong Kong who is funding the project, had mentioned that his plans for developing this massive project were contingent upon obtaining a casino license.

Analysts estimate that hundreds of thousands of visitors could be attracted to North Queensland each year once this casino is completed. Once all approvals are finalized, the first stage of the resort could open for business in 2019.

The Aquis Great Barrier Reef will emulate the exuberance of major casino resort properties in Macau, an island that already attracts thousands of Asian gamblers each day. Chinese investors are also backing other casino projects in Australia; namely two projects in Brisbane, which are being pursued by Echo Entertainment and Crown Casinos.

Tourism is the next big industry in Australia. Out of $30.1 billion spent by visitors in 2014, more than $5 billion were collected from Chinese tourists. Other Asian visitors flocking to Australia come from Hong Kong, Malaysia and Singapore, and these are tourists who generally enjoy gambling.