Crown will manage the integrated resort and casino while Greenland, with its commercial and residential property development background, will become the exclusive developer and owner of the remaining commercial, retail and residential areas.
The announcement comes less than a month after the Echo Entertainment Group formed a partnership with two Chinese companies—Chow Tai Fook Enterprises Ltd. and Far East Consortium FEC International Ltd. to prepare their joint proposal for Queen’s Wharf.
The competition for the Brisbane casino license has boiled down to a face-off between the two Australian casino operators. All three Chinese companies initially had bids of their own but ultimately decided to just choose sides with either Echo and Crown.
New resort proposal in South Korea to include theme park and casino
20th Century Fox plans to build a new 75-acre theme park as a part of 700-acre Ungdong Entertainment Complex in Changwon City, South Korea. The company will invest $3.5 billion to complete the project by 2018.
The provincial government of South Gyeongsang previously struck a deal with 20th Century Fox to develop a movie-based theme park as well as a six-star hotel, a water park, retail and dining areas, a movie theater, a golf course and a casino resort.
The project will be jointly developed by a group headlined by Fox Consumer Products Inc., the marketing and licensing arm of the 20th Century Fox group and Village Roadshow Theme Parks Ltd., one of Australia’s largest theme park operators. The 20th Century Fox World theme park is expected to be the main attraction of the project.
The Korean theme park will be the second launched by 20th Century Fox Consumer Products, following one in Malaysia set to open in 2016.