The Palaszczuk Labor government has canned Chinese consortium ASF Group's proposed $3 billion casino and integrated resort on the Gold Coast, but has kept open the possibility of a new cruise ship terminal at The Spit.
The decision, announced by Premier Annastacia Palaszczuk on Tuesday, is a major boost for The Star Group which owns the Gold Coast's only casino, Jupiters, as well as Brisbane's Treasury casino. The company is also building the $3 billion Queens' Wharf integrated resort and casino in Brisbane's CBD.
SGR Price at posting:
$5.04 Sentiment: Buy Disclosure: Held