Billionaire Tony Fung is dedicated to turning the Gold Coast into a premier tourist destination. Now that most of the legwork is done for his Aquis Casino Resort project, he has set his sights on a new opportunity at the Sheraton Mirage. This week, Mr Fung has purchased the Sheraton Mirage for $160 million, bringing the total of his Gold Coast Shopping Spree up to $280 million.

He has already announced his plans for the property, as he plans to turn it into resort to attract visitors from around the world. Fung is currently experiencing a love affair with the Gold Coast. He seems to be very taken with the location, and sees huge potential for the area to be a fantastic destination for international tourists.

“The Gold Coast is one of those rare destinations that enjoys instant recognition throughout Asia,’’ he says “But it has yet to reach its full potential”. At the moment, he has not explicitly stated that he will turn the Sheraton Mirage into a casino – but industry insiders are certain of his game plan.

According to the Gold Coast Bulletin, Echo Entertainment executives are confident that the purchase of the Mirage is a precursor to a new gambling license application. While the new venue would attract plenty of tourism to the Gold Coast, there are some doubts. Despite bringing in valuable revenue and creating hundreds of jobs, some wonder if the city can handle hosting several casinos.

“Is this city big enough for two casinos? Unless he has big plans to bring in thousands of VIP high-rollers the slice of the gaming pie in this town is not enough to justify it,” says one industry specialist. The addition of another casino to the Gold Coast could be a game changer in the Australian gambling market. So, we will be following this story closely, and keeping you up to date with any developments.

About the Author

George Anderson
Author George, has over 25+ years’ experience in the Pokies and Casinos industry throughout Australia and New Zealand. Loves to research new Pokies games on the block and follows announcements from top industry providers about their upcoming releases. As soon as a new interesting pokie game appears on his radar, George is there to check it out and give you the scoop before anyone else and tell you about all casino sites where can play the latest game. Before this gig, George worked as Pokie game tester, making him an ideal candidate for this genre of work. He is also an animal lover and a proud owner of three dogs.