James Packer's Crown Resorts has formed a consortium with Chinese developer Greenland to bid for a luxury resort and casino in Brisbane's CBD.
Crown and Greenland will jointly prepare and lodge a detailed proposal for the Queen’s Wharf project, Crown said in a statement.
The announcement comes less than a month after Echo Entertainment Group formed a consortium with Chow Tai Fook Enterprises and Far East Consortium (FEC Australia) to prepare its own joint proposal to develop an entertainment precinct and integrated resort at the Queen's Wharf site.
If the consortium wins the bid, Crown and Greenland will jointly develop a luxury integrated resort including a six-star hotel and casino, the company said. Crown will manage the resort and have an ownership interest in that, while Greenland will be the exclusive developer and owner of the remaining commercial, retail and residential parts of the development.
"Crown’s experience in designing, developing and operating luxury integrated resorts complements Greenland’s extensive property development experience in China and around the world. I have no doubt that this consortium has the track record and drive that can deliver for Brisbane an iconic tourist, entertainment and residential precinct that is recognised globally and embraced by the local community.” said Crown’s Chief Executive Officer Rowen Craigie.
Greenland’s Managing Director in Australia, Sherwood Luo, said Crown was an influential leader in developing and operating casinos and luxury hotels globally.
"Together with Greenland’s considerable expertise in delivering large urban complexes and residential landmarks we feel this international consortium can deliver a superior development for Queen’s Wharf," he said.