Brisbane is All Set to Rock with Integrated Casino Resorts

Brisbane has a solid plan to become the next “New World City”. This metropolitan hub of Australia’s Queensland area is all set to sparkle and dazzle, with seven major projects underway that are scheduled to become operational in 2022.

Among these seven, the most notable is the $3.6 billion Queen’s Wharf Brisbane project. Being built by Star Entertainment Group, Far East Consortium and Chow Tai Fook Enterprises, this project is expected to be a major attraction for both tourists and investors. It will connect defining parts of the city like the Queen Street Mall, Cultural Precinct, Botanic Gardens and Brisbane River. Here’s a look at how this mammoth project can transform the city skyline and drive economic growth.

A Brief Overview of the Integrated Resort Project

Launched in 2015, the Queen’s Wharf Brisbane inner city project covers more than 26 hectares of land and water. This is nearly 10% of the Brisbane CBD area. The project includes five premium hotels, including the Ritz Carlton, which will be the city’s first 6-star hotel property. Along with these, the plans include three residential towers, high-end retail departmental stores, about 50 food and beverage outlets and a world-class casino and gaming facility. Also, a public space roughly of the size of 12 football fields is under construction!

A sky-deck is being constructed over 100 feet above street level, which will provide a 360-degree view of the river and the city.

The section of William Street, between Elizabeth and Margaret Streets, has been closed for six years, starting early 2017. All the heritage buildings on the site, including the Commissariat Store building, old State Library on William Street and the old Immigration Building, have been preserved and the mega project has plans of re-purposing these for tourist visits.

In June 2019, the project officially transitioned from the ‘excavation’ or demolition phase to the construction phase. The hotels, restaurants, public space and casino are expected to become operational by 2022, while Ritz Carlton and the department stores will open their doors in 2024. The area is expected to become a massive crowd-puller in the future, with an estimated footfall of 1.39 million tourists a year.

Why Australia Desperately Needed This Project

This is a great time for Australia to have undertaken this project. The country has been severely impacted by the US-China trade war. The prolonged standoff between the world’s two largest economies led to a drastic slowdown in China’s economic growth. This had severe repercussions for Australia, as China is the biggest market for Australia’s exports of Ores slag and ash, mineral fuels, oils, distillation products, precious stones, metals and even meat and cereals. In September 2019, Australia’s economic growth decelerated to its slowest pace in a decade.

The country needed something to jumpstart its economy and the mega Queen’s Wharf Brisbane project is just what the doctor ordered. Here’s how it can fuel the economy.

Employment Generation

Integrated casino resorts have been instrumental in driving economic growth. This begins right from the planning and construction phase, which generates significant employment opportunities and demand for materials.  The Queen’s Wharf Brisbane project is expected to create more than 2,000 construction jobs alone.

When the project goes live in 2022, it is estimated to create over 10,000 employment opportunities.

Modern integrated resorts require skilled labor to remain profitable, including accountants, security officials, tech teams, lawyers, experts from the hospitality industry, marketing professionals and more. This creates tremendous scope for the young skilled workforce. The Queen’s Wharf project will include a hospitality school in partnership with TAFE Queensland, from where talented individuals will be provided great employment opportunities.

Infrastructure Development in Surrounding Areas

When hotels and casinos come up and begin attracting tourists, the surrounding infrastructure also begins developing. After all, infrastructure development is needed to support these ventures and these projects result in a massive number of jobs. The Queensland area will benefit from significant infrastructure development, making it a truly world-class destination to the likes of London’s Hyde Park and New York’s Central Park area.

The $5.4 billion Cross River Rail project encompasses the development of a 10.2-kilometer rail line that will run from Dutton Park in the southern suburbs of Brisbane to Bowen Hills in the north. This could change the face of South-East Queensland. The rail project alone is expected to generate 7,000 jobs during construction and become operational in 2024. A metro-subway system committed by the Brisbane City council is in the pipelines as well. And so is a $3.8 billion re-development project for the Brisbane airport.

High Revenue Generation

The Queen’s Wharf project is estimated to generate more than $1 billion in tourism revenues upon completion.

We have seen successful examples of integrated resorts boosting the local economy in places like Macau and Singapore. The inflex of tourists gives a boost to a wide range of local businesses, including retail outlets, coach and car rentals, cruises, entertainment, financial services and more.