Queensland could approve 3 more casinos

Bloomberg – Australia’s Queensland state may issue as many as three new casino licenses as it seeks to spur tourism with integrated resorts modeled after Singapore’s Marina Bay Sands and Resorts World Sentosa. The state will welcome applications for redevelopment of a riverfront site in central Brisbane that includes an existing casino operated by Echo Entertainment Group Ltd. (EGP), and consider allowing two more licenses elsewhere in the state, Premier Campbell Newman said today in an e-mailed statement. The move challenges Echo, which has three of Queensland’s four current licenses and accounted for 97 percent of casino spending in the…