Hong Kong-based Chow Tai Fook Enterprises, an investor in a consortium developing a multi-billion-dollar casino resort in Queensland, Australia, is confident that it will be able to attract Chinese high rollers to the property.
Chow Tai Fook Enterprises chief executive Patrick Tsang told Australian newspaper Sydney Morning Herald that the firm hopes to tap its existing customer base to help lure VIP gamblers to the casino resort.
A consortium led by Australia’s Echo Entertainment Group was chosen in July by the Queensland government to develop a casino resort in the Queen’s Wharf area of the state’s capital Brisbane. The consortium includes Chow Tai Fook Enterprises and Far East Consortium International.
Construction of the Brisbane casino resort is expected to start in early 2017 and the estimated completion date is 2022.
“We are in touch with a very diverse group of consumers in China, a segment of which will be interested in gaming and I believe if we build an international resort of quality we will be able to attract them,” Tsang told the newspaper.
He said China’s corruption crackdown had negatively impacted economic momentum, but added that his firm was still “bullish on China. Hopefully the crackdown will result in a better system for the longer term, which is better for the country. We’re heavily invested in China so we’re quite confident things will work out.”
