🍒 Hong Kong billionaire Tony Fung cancels plan to build $8 billion Great Barrier Reef Casino Resort

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Hong Kong billionaire Tony Fung's plans for Cairns may be in the lurch, but that Rendering of the shelved Aquis casino resort in Cairns.


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View Tony Fung's profile on LinkedIn, the world's largest professional community. Tony has 7 jobs listed on their profile. See the complete profile on LinkedIn.


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Hong Kong businessman Tony Fung Wing Cheung's Aquis Canberra Holdings (​Aus) Pty Ltd has completed the reverse takeover of Discovery.


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Tony Fung buys Gold Coast Sheraton, plans casino. Hong Kong billionaire Tony Fung is continuing his expansion in Queensland with the.


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Hong Kong billionaire Tony Fung cancels plan to build $8 billion Great Barrier Reef Casino Resort. Renee Kingsley. August 21,


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Hong Kong billionaire Tony Fung's plans for Cairns may be in the lurch, but that Rendering of the shelved Aquis casino resort in Cairns.


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Hong Kong property developer Tony Fung Wing-cheung's plans to take over Australia's Reef Casino Trust are in doubt after the Queensland.


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Hong Kong businessman Tony Fung Wing Cheung's Aquis Canberra Holdings (​Aus) Pty Ltd has completed the reverse takeover of Discovery.


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Hong Kong businessman Tony Fung Wing Cheung's Aquis Canberra Holdings (​Aus) Pty Ltd has completed the reverse takeover of Discovery.


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Tony Fung drops Cairns casino, leaving a new Queensland licence up for grabs. Aquis said it was not ruling out a future casino development in Cairns but will now focus on the hotel component. The five-hectare site is next to Sea World and the luxury hotel Palazzo Versace. Perry Williams Twitter Email.{/INSERTKEYS}{/PARAGRAPH} {PARAGRAPH}{INSERTKEYS}There has been speculation in the property market that billionaire Tony Fung left, with his son Justin may favour a casino on the Gold Coast rather than in Cairns. One potential winner from the decision by Aquis to withdraw its Cairns casino component could be the Chinese-backed, Australian-listed ASF Group, which is looking to gain its own regional casino licence. But its stalled bid to secure a casino licence through the government's integrated resort development process has led to Aquis canning the gambling component. While Aquis still plans to build a substantial hotel and entertainment resort, the Queensland government confirmed on Thursday that Aquis had cancelled its casino. ASF's preferred Gold Coast site on Wave Break Island at Southport was opposed last year by residents and the Queensland government, forcing the consortium to change its site for the proposed development. The state is now understood to be open to new proposals from other operators for a licence. Credit: Romy Bullerjahn. I understand that changing market conditions will see a change in the design concept," Queensland Treasurer Curtis Pitt said. International casino operators may also consider lobbing proposals for a new Queensland casino licence, but neither The Star nor Australia's largest casino operator, Crown Resorts, are likely to make any moves given their full project pipelines. ASF Group opportunity. But I have to stress that there will be no preferential consideration for a casino licence in the future if a later application is made. Aquis was named preferred developer for a regional casino in Cairns at Yorkeys Knob last year. ASF Group. That would, however, be subject to the availability of the regional IRD licence. There has been speculation in the property market that Mr Fung may favour a casino on the Gold Coast rather than in Cairns. The Sydney Morning Herald. Perry writes on business from our Sydney newsroom specialising in gaming and resources. Mr Fung also owns the nearby International Beach Resort, which he contracted to buy last year. Aquis has lodged a proposal with the ACT government which includes allowing pokies to be housed in the casino for the first time.