Fung Family Sets Sights on Cairns

Tony Fung, a billionaire banker from Hong Kong, wants to build a casino in Cairns. He is currently in talks with the Queensland government to obtain permission to go ahead with the construction of a Macau-style casino resort.

“We look forward to engaging with all stakeholders to ensure any development is sympathetic to the site and the region and provides a much-needed boost to the Queensland tourism industry,” says Justin Fung, a spokesperson for the Fung Family.

The Fungs have already acquired some property in Queensland, just north of Cairns. The casino is likely to be built at the former site of the Rainbow Casino, and will include a 300-room world-class casino. Several hotel developers are interested, including the Ritz Carlton and the Four Seasons.

The plan is to make Cairns one of Australia’s leading gambling destinations. Currently, there are the Oaks Casino and the Treasury Casino, but there are not big-name resorts. With Echo Entertainment and Crown Casinos building Vegas-style casinos across the country, in areas like Melbourne and Sydney, now is the time for other cities to up their game – and Cairns could present some serious competition.