The huge development would include 11 hotels, almost 7000 homes, six hectares of shops, four nightclubs and more than 20 restaurants. And, of course, a casino.

ASF Consortium, which is an ASX-listed investment group and partnering business between Australia and China, has now lodged its master and revised plan for a $7.5 billion integrated resort and cruise ship terminal on the Gold Coast.

The consortium's local project director, Tim Poole, said the revised plan, recently submitted to the state government, would create 5000 jobs during construction, 15,000 permanent jobs once operational, and inject $1 billion into the local economy each year for the next 20 years.

Notably, it has had several environmentally friendly changes, with development of a much-loved section of the Broadwater, known as 'The Spit', no longer going ahead.

"The State Government, in response to the feedback and community council, said the northern end of The Spit and particularly Doug Jennings Park would no longer be developed," Mr Poole said.

"The Spit has been saved. We have accepted that now as a condition."

ASF Consortium engaged architecture and construction company AECOM to finalise the revised plan.

AECOM principal Vaughan Davies said the changes resulted in a world-class coastal oasis, shaped by sand and sea, with four distinct precincts.

They are:

- An eco-marine park, with sand bars and islands.

- A five-hectare southern Spit precinct near Sea World and Fisherman's Fleet, which would connect the southern area of The Spit with residential, cultural and retail components.

- A new integrated resort, cruise ship terminal and residential community at a newly created 'Wave Break Island'. This island would be formed by dredging sand, and built entirely on sand. It would offer six-star accommodation, and also include retail and residential housing, ranging from single-family homes to duplexes and townhouses.

- The high-end 'Moon Island', offering a remote island and luxurious getaway experience, with 35 villas.

In total, the resort and cruise ship terminal would span across 90 hectares, with 11 hotels, or 2885 hotel rooms, and 6750 residential homes.

It would have more than six hectares of retail floor space, including four nightclubs and more than 20 restaurants.

Mr Poole said some aspects of the proposal remained confidential, including the exact size of the gaming element, which was still being worked out, and would obviously include a gaming licence.

But a proposed casino would be managed by Global Gaming Asset Management and be part of the integrated resort.

"The concept of the integrated resort is restaurants, entertainment and more than 100 different attractions, which is what's needed to increase the international tourist market," Mr Poole said.

ASF Consortium director, Allan Fife, said the partnership with GGAM would elevate Queensland into the top 10 destinations worldwide for integrated resort developments.

He added the company was currently involved in world-leading resorts, including the five-diamond Venetian and Palazzo in Las Vegas, Four Seasons in Macau, City of Dreams in Macau and Marina Bay Sands in Singapore.

"When you look at the resorts the GGAM team has been involved with, it brings to life a whole new level of experiences we could have on the Gold Coast. This has simply not been seen in Australia before," he said.

However, the idea of a casino has been problematic. Despite Gold Coast mayor Tom Tate supporting the project, the Minister of State Development, Infrastructure and Planning, Jeff Seeney has raised doubts in the past.

A spokesperson for Mr Seeney said ASF China Property Consortium was now the only possible proponent, after two other shortlisted groups pulled out, and a decision about whether or not the project was going ahead would take place in late 2014 or early 2015.

"The State Government has said the Broadwater marine project has three main challenges: technical issues, environmental issues and the demonstration of community awareness and support," she said.

If the project does go ahead, it would be delivered in nine stages, starting with dredging and development of the cruise ship terminal in time for the Commonwealth Games.

Accommodation, retail and leisure attractions at Wave Break Island wouldn't be completed for another eight years.

But Wave Break Island could literally create a wave of new tourists, with the development targeting wealthy international business people.

Mr Poole said up to 170,000 extra passengers could arrive on the Gold Coast each year by 2026, through the cruise ship terminal and also Brisbane and Gold Coast airports, thanks to the integrated resort.

"This whole development is being tailored to the attractive Asian market," he said.

A Gold Coast Airport spokesperson said it was currently investigating expanding the existing terminal facility by 2018, but the expansion was required based on forecast growth, and not specific to a proposed cruise ship terminal.

Save Our Spit president Dr Steven Gration said the fact the northern end of The Spit would no longer be developed was a pleasant and delightful surprise, but it was a political decision, not a scientific one, and Wave Break Island's size had been increased to compensate.

"They also want seven hectares of land south of Sea World, which is public crown land," he said.

"It should remain three storeys but they want 10 to 30-storey buildings. The rules keep changing, and we don't know from one day to the next what their next master plan will be."

He added SOS was also concerned the cruise ship terminal, moved from The Spit to Wave Break Island, would mean more dredging of sand and environmental destruction.

"The master plan has no technical drawings or environmental impact statements," he said.

"It's not a master plan, this is a 'what I want for Christmas' kid's list."