Queensland to Launch Casino Charm Offensive
The Australian State of Queensland is on the eastern side of the country. Right now, the leadership of the state is ready to begin sending a series of officials to Las Vegas and Macau to court a number of reputable casino operators in the hope of having them set up shop in Queensland. The casino operators will be required to channel their resources into ongoing projects that will benefit the residents of the city of Cairns and the people who live on the Gold Coast. For the venture to be a success, the Ministry of Tourism will have to convince the potential investors of what they will gain in the long run.
About the Launch
According to reports by Nine Network, one of the local television media houses, Kate Jones, Queensland’s minister of Tourism, will be leading the team that will be going to Las Vegas and Macau. During the visits, the delegation will meet with some of the most famous casino companies. For instance, the team will meet Caesars Entertainment Corp. and MGM Resorts International. While being interviewed by the local broadcaster, Jones made it clear that the state’s strategy was to entice more visitors into the state and, consequently, encourage them to stay around for a little while. And, hopefully, this, in turn, would create more employment opportunities for the local population and will guarantee better economic growth.
At the moment, the Stars Entertainment Group Ltd. has a monopoly in casino gambling in Queensland. The company has managed to stay on top through its Treasury Brisbane and The Star Gold Coast Properties. This past March, Stars Entertainment Group launched its Queen’s Wharf Brisbane project, which cost the company $2.3 billion. The project will be finished by the end of 2022, according to reports.
Jones said the endgame strategy for the state was to increase the number of investments in Queensland, a state that has more than 5 million people. This is in line with the state’s vision of integrating casino-resorts with features, such as hotels, restaurants, and retail and entertainment options.
However, several politicians have not readily embraced Jones’ initiative. To them, the state-funded foreign trips will create a huge dent in the overall budget of the nation. They have done their cost-benefit analyses, and have concluded that the prospective fruits of the development project are not worth the expenses that will be incurred in the long run. Jones has defended herself by saying that she will pay for her own expenses while in Las Vegas. All the same, her response still does not conclusively address the issue of costs for the opposition. Who will cater to the needs of the other members of the team while in Las Vegas and Macau? Obviously, not everyone will be willing to dig out money from his or her pocket to pay for something that will not benefit him or her directly. It appears that so much could be hidden.
Best Way Forward
If looked at objectively, it might as well be realized that Queensland’s decision to invest in the gambling industry could, on the face of it, be a gamble. The expenses suffered may not necessarily guarantee a profit. Going forward, it is only clever that Jones brings more people on board to discuss the idea in more detail. It is only through this that the state government will have a clearer picture of the commercial viability of the project. Otherwise, it may just turn out to be another source of financial disaster for the taxpayers of Queensland.
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