[1] The casino/resort was conceived in the early 1980s by Perth property developer Frank Woodmore as a business opportunity following the closure in 1981, for political and religious reasons, of Indonesia's three licensed casinos, all of which were in Jakarta.
With Jakarta less than an hour's flight from Christmas Island, the casino was intended to attract high rollers from Indonesia and other Asian countries.
On 28 July 1998 the Australian Minister for Regional Development, Territories and Local Government cancelled CIR's casino licence and, the following day, the company went into receivership.
[3] In 2002, allegations were raised in the investigative journalism programme Four Corners relating to money laundering having occurred at the Christmas Island Casino during its years of operation.
[3] In July 2009, it was reported that the Australian Federal Government was negotiating with Kwon about using the resort facilities to relieve overcrowding at the island's Immigration Detention Centre because of increases in boatloads of asylum seekers attempting to reach Australia.
[9][10] The resort lies on a 47 ha block of land, a 99-year crown lease issued in 1989, at Waterfall Bay on the north-eastern coastal terraces of the island, not far from the airport.