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Racing At Gold Coast Palm Meadows Within 5 Years

Thursday, 3rd July 2008

Queensland Racing chairman Bob Bentley "hopes racing will be held at the Palm Meadows track on the Gold Coast within 5 years," reported Brisbane's The Courier-Mail. Bentley met Gold Coast chairman Hoss Heinrich yesterday "in an attempt to shore up support for the project, which he said would cost about $450 million". Bentley told the newspaper: "If it is not feasible, it will not be going ahead. Most of the tests associated with the project have been completed & we need the full co-operation of the Gold Coast Turf Club board. The project must be self-funding. The Government will not contribute." The Gold Coast track "sits on 50ha of prime Bundall real estate" & Bentley said the "highest & best use" of the site was essential. Bentley said Heinrich had "listened to options", but it was now time to "make a decision & ask for a members' vote". The Palm Meadows complex is owned by Macau gambling king Stanley Ho & "is expected to cost about $80 million". Magic Millions will be a tenant & Bentley said land would be made available to Magic Millions to buy or lease. Magic Millions managing direstor David Chester commented: "It will cost us about $40 million to shift & we want to build 1,500 stables. We are working with the Gold Coast & Queensland Racing."

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