Australian State Looks to Singapore Casinos Success

Companies controlled by billionaires James Packer and Cheng Yu-tung have lodged bids to develop casinos in Australia’s Queensland, as the state government plans to lure Asian tourists with new resorts based on the success of Singapore casinos. Packer’s Crown Resorts Ltd. (CWN) and a venture including Cheng’s Chow Tai Fook Enterprises Ltd. are among 12 groups that have filed applications for new casinos in a state which is already home to four, Queensland deputy premier Jeff Seeney said in a statement posted on a government website today. With a shoreline longer than India’s that’s lapped by the Great Barrier Reef,…