Crown Resorts was reportedly in negotiations with Australian Stock Exchange listed ASF Consortium (Group) to build and operate a $2 billion (US$1.5 billion) waterfront casino -Gold Coast Integrated Resort Development- on the Gold Coast on a five-hectare site between Sea World and the Gold Coast Fishermens Co-operative. Two Chinese state-owned partners, CCCC Guangzhou Dredging CoLimited and China State Construction Engineering Co Limited, are expected to provide equity in and build the project. Currently, ASF Consortium is working with the State Government to determine timeframes for processes and proposals. While a casino is an important component of the Integrated Resort Development (IRD) ASF is focusing on creating a distinct tourism precinct that integrates public open space, hotels, theatres, restaurants, retail and many outdoor activities. The IRD is being developed so that visitors will be able to enjoy all of the attractions and amenities of the resort without having to ever pass through a gaming area. Later this year, a master plan is expected to be submitted by ASF that will include residential apartments, a luxury hotel, convention facilities, and a casino.