SkyCity group walks out of Gold Coast bidding

A consortium involving New Zealand’s SkyCity Entertainment Group Ltd. has pulled out of the running to build and operate a new Gold Coast cruise terminal out of concern odds are dimming that the state will issue a casino license to the winner. Unnamed sources told local media that SkyCity’s group is worried that the state’s increased focus on competing proposals for a new Brisbane casino from Crown Ltd. and Echo Entertainment Group Ltd. make a new Gold Coast license less likely. Three of the four bidders for the project, which is targeted for completion by 2018, had included a casino in their plans to improve potential returns on their investment. Echo’s Jupiter Casino currently has the Gold Coast to itself. SkyCity’s group included contractor Brookfield Multiplex.