• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Caesars reveals it pulled out of Australian Gold Coast casino bid “several weeks ago”

Ben Blaschke by Ben Blaschke
Thu 27 Jun 2019 at 06:59

An artist's impression of Star Entertainment Group's AU$2 billion Gold Coast masterplan

1.3k
VIEWS
Print Friendly, PDF & Email

US casino giant Caesars Entertainment has revealed it has pulled out of the race to develop a casino on Australia’s Gold Coast.

According to reports from News Ltd, the decision was made a number of weeks ago and well before the announcement by Caesars this week that it had entered into a US$17.3 billion merger agreement with fellow US casino operator Eldorado Resorts.

Speculation has been rife in recent months as to which foreign operators might be interested in bidding for the Queensland State Government’s mooted second casino license, however in a statement published by The Gold Coast Bulletin this week, a Caesars spokesman said, “Several weeks ago, Caesars Entertainment decided that it would not pursue a casino license in Queensland.”

While no detail was provided by Caesars as to the reasons for its decision, Queensland Tourism Department Director-General Damien Walker, said the government had been informed “this decision by (Caesars) was a result of internal company changes and not the attractiveness of the Gold Coast market as an investment opportunity.”

The decision also precedes comments made by Eldorado CEO Tom Reeg during an investor call this week discussing the merger agreement with Caesars. Reeg, who will take charge of the merged entity upon completion of the deal, stated “no firm decisions” had yet been made on the company’s long-term international ambitions but “the opportunity internationally will have to be stupendous for us to run in that direction.”

As for the Gold Coast, it is still to be seen whether the proposed development of a second casino goes ahead at all, with no site yet confirmed and questions being asked over whether the region is big enough to host another IR under the government’s Gold Coast Global Tourism Hub ambitions.

Approval for a second casino would also likely put an end to a proposed AU$2 billion “mega masterplan” by The Star Gold Coast operator, Star Entertainment Group, in addition to the AU$850 million it has already spent upgrading its Gold Coast property. The masterplan would see a total of four new hotel towers developed on top of the already under-construction Dorsett Hotel and Star Residences.

Star Entertainment Group has previously expressed concerns over the government’s plans for slot machine licenses should a second casino be given the green light, stating the company “has a declared position that the Gold Coast is already saturated as an electronic gaming machine market.”

RelatedPosts

Ben Attwood: Land of Wonder

Regulating the Game announces CherryHub and Ebet as joint RegTech sponsors of 2026 Sydney conference

Tue 6 May 2025 at 13:03
Unhitching Online Poker

Regulating the Game conference to include inaugural RTG Global Awards in 2026

Thu 1 May 2025 at 08:18
Crown down but Star not ruling out junkets

Star falls further as 1Q25 EBITDA loss hits AU$21 million

Thu 1 May 2025 at 07:49
Donaco pays down US$8.5 million in debt as part of loan refinancing deal

Donaco’s 1Q25 revenue down on losing quarter for VIP segment at Star Vegas

Tue 29 Apr 2025 at 09:45
Load More
Share21Share4
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Galaxy Macau to host 2025 Annual Conference of the FIA – world motorsport’s governing body

Favorable VIP hold pushes Galaxy Entertainment Group’s 1Q25 profit to US$412 million

by Ben Blaschke
Thu 8 May 2025 at 14:03

Macau’s Galaxy Entertainment Group (GEG) reported total net revenue of HK$11.2 billion in the first three months of 2025, including gross gaming revenue of HK$10.9 billion (US$1.36 billion) – up 13.6% year-on-year although slightly lower than the HK$11.0 billion (US$1.38...

Solutions Showcase: Angel – Tech Minded

Baccarat side bets now contribute close to 50% of Macau baccarat revenues

by Ben Blaschke
Thu 8 May 2025 at 13:32

Baccarat side bets now contribute between 45% and 50% of Macau’s gaming revenues, representing a generational shift in player preferences thanks to the deployment of smart gaming table technology. Stakeholders told IAG that such side bets previously comprised only a...

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

by Pierce Chan
Thu 8 May 2025 at 11:11

After a five-year hiatus, City of Dreams’ epic production House of Dancing Water held its premiere on Wednesday 7 May ahead of an official opening to the public on Friday. The newly reimagined resident show is produced by Giuliano Peparini,...

Grand Korea Leisure extends casino closures until 15 February

Grand Korea Leisure’s casino revenues up to US$26 million in April

by Newsdesk
Thu 8 May 2025 at 07:03

Foreigner-only casino operator Grand Korea Leisure reported casino revenue of KRW36.2 billion (US$25.9 million) in April, up 11.5% year-on-year but down 12.7% compared with March. GKL’s casino revenue comprised an 11.7 % year-on-year increase in table revenue to KRW32.9 billion...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語