In a media statement issued on 19th September it was announced by Treasurer Curtis Pitt that the team behind the Aquis Great Barrier Reef Resort project in Cairns have signed a Process Deed to re-enter the Integrated Resort Development (IRD) process.

RELATED:

<link aquis-approved-by-federal-government.12563.0.html>Aquis approved by Federal Government

“The IRD process is a rigorous way to protect the community’s interests and also evaluate Aquis’ credentials and financial capacity to deliver this project,” said Mr Pitt.

The government will issue Aquis with a Request for Detailed Proposal document in the near future.  Once this is finalised Aquis will have 20 business days to accept the Request for Detailed Proposal document and execute an Acceptance Deed.

The signing of the Acceptance Deed will commence probity processes, requiring Aquis to provide the information needed to allow the regulator to commence investigations as required under the Casino Control Act.

This now raises the question as to whether any real progress has been made given that the Hong Kong Developer Tony Fung  withdrew from the Integrated Resort Development process in February due to the delays in probity investigations.

Denis Walls a spokesperson for Aquis Aware Coalition of Concerned Citizens was reported as saying that “we are back to where we were a year ago, only with an additional procedure for Mr Fung to comply with.”

“There is now going to be two probity processes running in tandem: one through the IRD and another still going through the Department of State Development and the Office of Liquor and Gaming Regulation,” reported Mr Walls.

With mixed opinions surrounding the Aquis development, it has been the delay on the probity investigation into the Hong Kong billionaire’s $276 million takeover of the Reef Hotel Casino in Cairns that has caused much public debate.

It was also later reported that Mr Fung would “seriously reconsider” further investment in the $8.15 billion project unless he received probity clearance, which has the community questioning whether Aquis will go head.

It was reported that all parties seeking Queensland casino licences have been made well aware of their need to meet and fulfil the requisite probity and financial requirements.

With the State and Federal environmental impact approval secured, it is the issue of licensing of the casino which now needs to be finalised said Pat Flanagan who is leading the $8.15 billion project in Cairns.

“I was also at the meeting with the Treasurer and there is a signed deed to re-join the IRD process.

“The state government is committed and we are working together on what is required to proceed to make it realistic to move forward.” said Mr Flanagan.

The Queensland government sought to engage in positive discussions with Mr Fung and Treasurer Pitt welcomed Mr Fung’s renewed commitment as a vote of confidence in Queensland.