Stage one of Tony Fung’s $4.2 billion Yorkeys Knob casino-resort was given the go-ahead last week, though the Aquis Great Barrier Reef Resort still has environmental, social and economic approvals to pass. 

The State Government declared the Chinese billionaire’s development a “coordinated project” on Thursday, meaning Mr Fung doesn't need to seek separate approvals for different parts of the project. It’s expected to deliver a major boost to the region, with an estimated 9000 jobs created during construction and 10,000 full-time jobs when operational. According to the project's website, the job-creation and influx of tourists would "[put] an end to the ‘low season’ unemployment problem in Cairns."

Hong Kong-based Mr Fung said the 343 hectare resort will become North Queensland’s "man-made wonder", based on "the Macau model". The tiny region south of Hong Kong is rapidly supplanting Las Vegas as the world's gambling capital, according to BusinessWeek. Pending approvals, construction would begin mid-next year and finish in 2018. 

"I have recognised the unique suitability of the Cairns region to develop an integrated resort...Aquis gives Queensland an opportunity to fend off its southern and regional competitors for the increasingly important Chinese tourism market,” he said.  

The Australian dollar has dropped 16 per cent since April, making the country an attractive destination for overseas tourists, particularly the large, growing Chinese middle-class. However, according to a report on The Conversation, "the Australian experience reveals that the casinos who have presented rich, gambling tourists as their target market to gain approvals have all failed to achieve their speculative projections. All Australian casinos – bar Canberra – rely on local gamblers playing pokies."

The development includes: 

• Nine luxury hotels, including 1200 apartments and 135 villas
• International class casino (Aquis is seeking approvals for about 750 tables and 1500 machines)
• 25,000 seat sports stadium
• High-end retail shopping
• Convention and exhibition centre
• 20ha reef lagoon
• 18-hole golf course

However, despite Mr Fung stressing there would be no impact on the World Heritage-listed Great Barrier Reef, some argue the development poses a major risk to the environment and local industries. Yorkeys Knob resident Jim Cadman told the ABC the project is like a “steamroller” in the community, and “most people are completely blown away and amazed that such a ludicrous development could happen in such a pristine environmental area.” 

As well, with four casinos already in Queensland, there are concerns over the impact Aquis will have on local gambling - not just on existing casinos' revenue, but problem gamblers, with gambling on pokies more closely associated with gambling problems than any other form of gambling in Australia.

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