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Published on Aug 8, 2013
ABC radio response from Save Our Spit spokesperson Luke Sorensen
One of the four final contenders for the proposed Broadwater Marine Project have pulled the pin on their bid saying the project doesn't "stack up" and will no longer be pursuing it. Azure consortium (Brookfield Multiplex) have left the project after realising the project will be a massive loser in light of the now very slim chance that the state government will grant an extra casino license to the Gold Coast. A division of Azure is Skycity Entertainment that operate a casino in New Zealand. They were reportedly pushing to drop the bid based on their understanding that the Gold Coast won't be getting another casino license any time soon.
Council reports show that a terminal would run at a massive loss unless a casino is attached to drive revenue and pay for the costs to operate a terminal. The terminal itself would not bring economic gains to the city and would cost millions to run with little return.
The house of cards built on misleading reports and understated data is beginning to fall and the developers are well aware of the significant risks associated with the proposal - these developers are in the business of making money and will not move forward without absolute confidence.