Australia is being seen as a prime destination for hotel operators, some from Greater China who are looking to expand their offerings with gambling inclusive integrated resort properties, local media reports. As much as A$15 billion (US$11.4 billion) is being spent on new integrated resorts and to expand existing ones in Australia, with a total […]
The A$8.15 billion (US$6.3 billion) Aquis resort project will be moving ahead without a casino in the first stage, in order to expedite the necessary approvals by the end of the year and for construction to start next year, according to The Cairns Post. Aquis leaders Tony and Justin Fung reportedly held high level talks […]
A new consortium has been formed between Hong Kong businessman Tony Fung and two Chinese development companies who are reportedly willing to finance Aquis’ proposed $8.15 billion Aquis Great Barrier Reef Resort, local media reports. The alliance, formed with Chinese developer Tandellen and CCCC International Holding Limited (CCCCI) are an important milestone for Aquis’ Queensland […]
The team behind the Aquis Great Barrier Reef Resort project in Cairns has signed a process deed to re-enter the Integrated Resort Development (IRD) Process, the Queensland government said in a press release. Investor Tony Fung had withdrawn from the IRD process in February following stalled negotiations with the previous LNP Government. Treasurer Curtis Pitt […]
Hong Kong billionaire Tony Fung is continuing his expansion in Queensland with the acquisition of the Sheraton Mirage on the Gold Coast for A$160 million ($127 million), according to local media. Fung plans to turn the property into a luxury casino resort, he told Brisbane newspaper The Courier Mail in an interview. “The Gold Coast […]
The Aquis Group has welcomed the Federal Government’s decision to grant environmental approval for the Aquis Great Barrier Reef Resort at Yorkeys Knob. Aquis project director Pat Flanagan said the decision by the Environment Minister’s delegate was another significant milestone in the progress of the project. “This approval demonstrates that the project has been developed […]
Aquis Group chairman Tony Fung said he is “totally committed” to the Aquis Great Barrier Reef Resort project at Yorkeys Knob despite speculation in local media that is little political backing of the project. “There has been much speculation in recent months about the future of the project. I want to assure you we remain […]
China’s crackdown on corruption, increasingly stringent immigration controls and a recently proposed 21-million quota on annual visitors from the mainland has significantly changed Macau’s junket market, with promoters increasingly diverting business to surrounding regions and expanding their reach and scope.