It appears as if the Gold Coast may become a mini Las Vegas in the next few years with Chinese billionaires investing a small fortune into the area, buying up development sites up and down the glitter strip.
The aim is to hit the Chinese middle class, who love to gamble, with more casino’s being planned for Queensland’s tourist hot spot.
“It is on their radar straight away, especially for what you’d call the larger players. They’re actively looking to break Queensland’s casino monopoly, a property agent on the coast told the press.
“They see it as a strategic move, they’re constantly asking us to supply the right introductions for them to get into that environment.”
“The more we’re promoting into southeast Australia, the more pressure will come. You can invest heavily in attracting these people, but if you don’t have the correct facilities they’re going to think it’s just a one-horse town. And the fact is they like diversification, they love their gambling and they’re as keen as anything on the Gold Coast.”