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Rumors Over $1.2 Billion Chinese Claim on Queensland Casino

Rumors Over 1.2 Billion Chinese Claim on Queensland Casino

A Chinese state-owned company that is investing in a casino mega-complex on the Southport Spit has threatened $1.2 billion legal action if the project does not gain approval by Queensland authorities.

China State Construction Engineering Corporation is set to build a $3 billion casino resort with five high-rise towers between Sea World and Palazzo Versace on the Gold Coast. Initially, the undertaking was planned to be on Wave Break Island but the government banned this zone from further development.

As a result, CSCEC will allegedly file for legal action amounting to $1.2 billion against the state government.

In August 2015, only four months after rejecting the Wave Break Island casino project, the Queensland authorities gave the development the go-ahead for the current Southport Spit site.

There has been no sufficient transparency related to the case but the fact that the Queensland’s government is willing to authorize a Chinese government company to build the casino has raised grave concerns. For one, gambling is illegal in China, and three Australian Crown Resorts employees are still detained in the country over “gambling” charges.