{"id":141504,"date":"2020-07-12T17:48:13","date_gmt":"2020-07-13T00:48:13","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=141504"},"modified":"2020-07-13T15:21:08","modified_gmt":"2020-07-13T22:21:08","slug":"queensland-government-says-no-to-second-casino-star-monopoly","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/","title":{"rendered":"Queensland Government Nixes Second Casino Plan, But No Exclusivity for Star"},"content":{"rendered":"

The Queensland government is scrapping plans to bring a second gaming venue to Australia’s Gold Coast. But it’s not granting exclusivity to Star Entertainment Group, either.<\/p>\n

\"No
The Star Casino on Australia’s Gold Coast. Politicians won’t give Star the exclusivity it wants, but they’re scrapping plans for a second casino. (Image: Twitter)<\/figcaption><\/figure>\n

State Development Minister Kate Jones said policymakers worked diligently with Star, the established operator in Southeast Queensland. But it became difficult to grant the 30-year exclusivity accord the gaming company has long sought.<\/p>\n

Through the exclusive negotiation process for a Gold Coast Global Tourism Hub, we worked really hard to extract value from The Star. But the deal on the table did not stack up for taxpayers,\u201d<\/strong> said Jones. \u201cWe were not able to reach consensus around the terms for long-term casino license exclusivity.\u201d<\/strong><\/p><\/blockquote>\n

The firm, which runs the Star Gold Coast, previously wielded plans<\/a> to enhance the Gold Coast Convention and Exhibition Centre and the Sheraton Grand Mirage, among other spending proposals, in an effort to leverage a 30-year monopoly out of Queensland government with company executives claiming that market can’t support multiple casinos.<\/p>\n

Still Committed<\/h2>\n

In official terms, Star Entertainment didn’t get the 30-year monopoly accord it craves. But its status as the Gold Coast’s lone gaming operator will remain intact for some time because Jones gave no indication as to when the second casino idea could be revived, or if it even will be.<\/p>\n

Star Chairman John O\u2019Neill said his company will move ahead with plans to spend $1.38 billion in the region — if the conditions are to the operator’s liking — as part of a plan to bring tourists to the area.<\/strong><\/p>\n

\u201cWe have confidence in the future of tourism and, under the right conditions, will continue to invest through our $2 billion-plus Gold Coast master plan that will help government deliver further significant economic benefits for Queensland, including thousands of jobs,\u201d he said.<\/p>\n

\n

Star and Annastacia Palaszczuk\u2019s government had been at odds for months<\/a> regarding the operator’s three-decade monopoly request, with the two sides previously hoping to come to terms by last Christmas, only to see that timeline pushed out to early 2020. For his part, O’Neill says Star is already proving its commitment to Queensland.<\/p>\n<\/div>\n

\u201cInvestments in Queen\u2019s Wharf Brisbane, alongside those on the Gold Coast where we\u2019ve refurbished The Star Grand hotel, opened The Darling hotel, and have the Dorsett hotel and apartments tower under construction, are proof of our commitment to creating world-class tourism and entertainment destinations that will bring more than a million additional visitors to Queensland every year,\u201d he said.<\/p>\n

Market Conditions Dictated Second Casino Call<\/h2>\n

Some operators are moving ahead with capital spending plans in the Asia-Pacific region.<\/a> But deteriorating market conditions caused by the coronavirus pandemic could make expansion via new construction unappealing for some cash-strapped gaming firms.<\/p>\n

\u201cGlobal market conditions are clearly impacting investment at present, and I can confirm that this government has no intention of reviving the market process for a new integrated resort \u2013 including a second casino \u2013 on the Gold Coast,\u201d <\/strong>said Jones.<\/p>\n

Last year, Caesars Entertainment Corp. (NASDAQ:CZR) dropped out of contention for the second Gold Coast casino after Eldorado Resorts, Inc. (NASDAQ:ERI) announced a $17.3 billion takeover bid<\/a> for that company.<\/p>\n

It was also rumored that Galaxy Entertainment, Hard Rock International, and Melco Resorts & Entertainment were among the parties interest in the Aussie venture.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Queensland government is scrapping plans to bring a second gaming venue to Australia’s Gold Coast. But it’s not granting exclusivity to Star Entertainment Group, either. State Development Minister Kate Jones said policymakers worked diligently with Star, the established operator in Southeast Queensland. But it became difficult to grant the 30-year exclusivity accord the gaming […]<\/p>\n","protected":false},"author":46,"featured_media":141506,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\nQueensland Government Says no to Second Casino, Star Monopoly<\/title>\n<meta name=\"description\" content=\"Star Entertainment Group isn't getting the Queensland monopoly it covets, but politicians there are giving up on a second casino.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Queensland Government Says no to Second Casino, Star Monopoly\" \/>\n<meta property=\"og:description\" content=\"Star Entertainment Group isn't getting the Queensland monopoly it covets, but politicians there are giving up on a second casino.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-13T00:48:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-13T22:21:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"718\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/\",\"url\":\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/\",\"name\":\"Queensland Government Says no to Second Casino, Star Monopoly\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg\",\"datePublished\":\"2020-07-13T00:48:13+00:00\",\"dateModified\":\"2020-07-13T22:21:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Star Entertainment Group isn't getting the Queensland monopoly it covets, but politicians there are giving up on a second casino.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg\",\"width\":1200,\"height\":718,\"caption\":\"The Star Casino on Australia's Gold Coast. Politicians won't give Star the exclusivity it wants, but they're scrapping plans for a second casino. (Image: Twitter)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Queensland Government Nixes Second Casino Plan, But No Exclusivity for Star\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Queensland Government Says no to Second Casino, Star Monopoly","description":"Star Entertainment Group isn't getting the Queensland monopoly it covets, but politicians there are giving up on a second casino.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Queensland Government Says no to Second Casino, Star Monopoly","og_description":"Star Entertainment Group isn't getting the Queensland monopoly it covets, but politicians there are giving up on a second casino.","og_url":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-07-13T00:48:13+00:00","article_modified_time":"2020-07-13T22:21:08+00:00","og_image":[{"width":1200,"height":718,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/","url":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/","name":"Queensland Government Says no to Second Casino, Star Monopoly","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg","datePublished":"2020-07-13T00:48:13+00:00","dateModified":"2020-07-13T22:21:08+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Star Entertainment Group isn't getting the Queensland monopoly it covets, but politicians there are giving up on a second casino.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/star.jpg","width":1200,"height":718,"caption":"The Star Casino on Australia's Gold Coast. Politicians won't give Star the exclusivity it wants, but they're scrapping plans for a second casino. (Image: Twitter)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/queensland-government-says-no-to-second-casino-star-monopoly\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"Queensland Government Nixes Second Casino Plan, But No Exclusivity for Star"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/141504"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=141504"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/141504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/141506"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=141504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=141504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=141504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}