Australian casino operator The Star Entertainment Group’s bid for a 30-year Gold Coast casino monopoly has come to naught after failed negotiations with Queensland’s state government.

On Friday, State Development Minister Kate Jones announced that Queensland’s government had failed to “reach consensus around the terms for long-term casino licence exclusivity” for The Star. Jones added that the government had “worked really hard to extract value from The Star, but the deal on the table did not stack up for taxpayers.”

The Star operates two Queensland casinos, including one in Gold Coast. The company is currently expanding its Gold Coast property and pledged last October to dramatically boost that investment if the state granted The Star a 30-year local monopoly on casino operations.

While The Star may have lost its bid to formalize its existing monopoly, Jones said Friday that COVID-19’s impact on current economic conditions meant the state “has no intention of reviving the market process for a new integrated resort – including a second casino – on the Gold Coast.”