The State Government announced over the weekend it does not intend to pursue plans for a new integrated resort – including a second casino – on the Gold Coast, with global market conditions clearly impacting investment.

The government said it had also ended negotiations with The Star group for an exclusive long-term casino licence on the Gold Coast.

Star currently operates the Star Gold Coast casino in Queensland and had promised to invest $2 billion to expand the project – including redevelopment of the ageing Gold Coast Convention and Exhibition Centre – if it was given exclusivity.

-AAP