CROWN JOINS FORCES WITH GREENLAND FOR BRISBANE CASINO

Written on the 21 July 2014

CROWN JOINS FORCES WITH GREENLAND FOR BRISBANE CASINO

CROWN Resorts Limited (ASX:CWN) has partnered with Greenland Holdings Group, to bolster its bid for the Queen’s Wharf precinct.

Crown and the Chinese diversified property group will co-develop a proposal for the luxury integrated resort, featuring a six-star hotel and casino.

CWN CEO Rowen Craigie says the team is pleased to align with an experienced company.

“Crown’s experience in designing, developing and operating luxury integrated resorts complements Greenland’s extensive property development experience in China and around the world,” Craigie says.

“I have no doubt that this consortium hasthe track record and drive that can deliver for Brisbane an iconic tourist, entertainment and residential precinct that is recognised globally and embraced by the local community.”

If successful, the Victorian entertainment group will own and manage the resort – while Greenland will control the remaining commercial, retail and residential sectors of the site.

Greenland Australia managing director Sherwood Luo says Crown is an influential leader in the global casino and hotel market.

“Together with Greenland’s considerable expertise in delivering large urban complexes and residential landmarks we feel this international consortium can deliver a superior development for Queen’s Wharf,” Luo says.

The announcement follows Echo Entertainment Group’s (ASX:EGP) strategic partnership with former rivals Chow Tai Fook Enterprises and Far East Consortium Australia last month, to secure the deal.

The successful developer is expected to be announced early next year.


Latest News

NVC PLAYS A DIFFERENT GAME, AND WINS

AS its profits rise, National Veterinary Care's (ASX: NVL) focus on training over retail is proving to be a wi...

SUPERLOOP $2M LOSS DOES LITTLE TO KILL SLATTERY'S CONFIDENCE

BEVAN Slattery (pictured) is optimistic that Superloop's (ASX: SLC) financial position is promising, despite t...

RAJ NARAN TO SUCCEED GREG KILMISTER AS ALS BOSS

GREG Kilmister (pictured) will retire as MD and CEO of ALS Limited (ASX: ALQ) after 36 years with the company and 12 ...

CROMWELL TRADES STEADILY IN FIRST HALF

CROMWELL Property Group has maintained a steady operating profit at $0.045 per security in the first half of FY17,...

Related News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter