Massive Reef Casino Projects Receives Environmental Approval
March 2, 2015
After considerable delays, Tony Fung’s $8.5 billion Cairns casino project finally received environmental approval from the Australian government. This casino, which will be located just north of Cairns at Yorkey’s Knob, is called The Aquis Great Reef Resort.
The Environmental Approval Process for Aquis
According to news reports, The Aquis Great Barrier Reef Resort first received backing from the State Coordinator General in Cairns. Then, just last week, the lavish casino resort got approval from Environment Minister, Greg Hunt.
Hunt says that there are currently 13 environmental conditions placed on the resort’s construction process. Hunt is completely confident that the resort’s developers will uphold all of the 13 conditions during the build.
Politicians who were against building the resort so close to the Great Barrier Reef were concerned about soil runoff, water quality issues, and nutrient deficient soil developing because of careless construction techniques used during the casino build.
Finding the Right Outcome for Both Sides
Tony Fung’s initial construction proposal for the Aquis was to build an $8.5 billion casino that contained over 8 hotels, two different casinos, two large convention buildings, a professional-level golf course, and a wide range of stores and shops.
For this to happen, though, Mr. Fung and his team of investors need to begin raising capital, as well as obtain a casino license from the government. This license will determine how many hotels, casinos, and shops Fung will be able to build.
Pat Flanagan, a project director at Aquis, said that the casino license will help ensure that both the developers and state government are happy about the scale and size of the Aquis project. Initial projections suggest that the casino resort complex could double the region’s tourism revenue.