Crown Resorts Limited
(ASX:CWN) will partner up with Chinese property group Greenland Holdings Group to jointly bid for the Queen’s Wharf Brisbane Project.
Both companies will prepare a detailed proposal to develop the precinct and if successful jointly develop a luxury integrated resort including a six-star hotel and casino.
The plans propose Crown will manage the integrated resort and hold an ownership interest in that part of the precinct. Greenland is poised to be the exclusive developer and owner of the remaining commercial, retail and residential components of the site.
Crown’s CEO Rowen Craigie says he has no doubt the consortium has the track record and drive to deliver an iconic tourist, entertainment and residential precinct.
Crown Resorts generated a net profit of $382 million in the first half of the 2014 financial year.
