Gaming group Echo Entertainment has teamed up with a Hong Kong bidder in its battle against rival Crown for Brisbane's second casino licence.
Echo has signed a binding Memorandum of Understanding (MOU) with Hong Kong investment giants Chow Tai Fook Enterprises (CTF) and Far East Consortium to create a new consortium.
The Queensland government's shortlist of four bidders is now three for the Queen's Wharf Brisbane resort project, which will include hotels and entertainment along with a casino.
The other bidders are James Packer's Crown Resorts and China's Greenland.
Echo chief executive Matt Bekier said the consortium combined its Australian experience in casinos with its partners' links to hospitality operations and property in Asian markets.
"Echo is delighted to work in partnership with two significant Asian based partners and the government to develop and submit a compelling proposal for the Queen's Wharf Brisbane site, which will deliver major investment in tourism infrastructure including a world class integrated resort to Brisbane," he said.
The successful bidder is expected to be announced in early 2015.