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$400m Plan For Gold Coast Track & Sales Complex

Friday, 30th March 2007

In Australia, Queensland Racing released a proposal for a $400 million state-of-the-art racecourse & sale complex for the Gold Coast Turf Club & adjacent Magic Millions sale company on 200 hectares of land at Palm Meadows (currently owned by Macau casino & racehorse owner Stanley Ho). Chairman Bill Millican said the GCTC's 2,500 members will vote on the proposal (which would enable the turf club to more than double crowd capacity from 19,000 to 50,000) within the next month & Queensland Racing chairman Bob Bentley urged members (whose majority vote is necessary) to embrace the change, noting: "They can either embrace it & get one of the best racetrack facilities in the world or continue on as a provincial or country club in a major city. This is an investment in the Gold Coast's future, not just for racing stakeholders but for the entire tourism industry in this city. The proposal will deliver a complex that is better than anything we have in this country. The consortium putting it together have borrowed the best ideas from all the great racetracks of the world to come up with a unique, innovative proposal. It has the full support of Queensland Racing & Magic Millions." If the GCTC members agree, the project management team will press ahead "with a view to starting construction in 2009 & finishing the project in 2011".

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