Last year, Billionaire businessman Tony Fung started making plans to build a $4.2 billion mega resort on the Great Barrier Reef. He expressed great interest in contributing to the local economy and creating a quality tourist attraction in Cairns. Unfortunately, it has recently been announced that the construction date has been delayed from Summer 2014 to July 2015.
According to Mr Fung, the process to receive a casino license is taking longer than anticipated. As such, he does not expect to have the license in time to begin construction when he had initially planned. The new Queensland Government's Integrated Resort Development application process seems to be the one to blame.
In addition to taking longer than any other casino license application, the process has also caused some doubt. According to Mr Fung, there is now a ‘high level of uncertainty about the outcome’. Cairns Mayor Bob Manning supports the project and he would like to see it go ahead. As such, he has asked the Queensland government to ensure that the application process is completed before 2014.
"Aquis is the most significant investment in the history of Cairns," he says. "While it is important the State Government undertakes a proper process, it is equally important this process is done in a timely fashion”. The resort has the potential bring in billions of dollars in tourism and gambling revenue every year.
With nine luxury hotels, over 1000 apartments, a sports stadium, retail shopping centre, golf course, convention centre, casino and lagoon, Aquis will bring in a wide range of visitors from across the country and around the world. The resort will also create 10 000 permanent jobs and the construction process would offer jobs to 9300 for four years while the venue is built.
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