The two Hong Kong investors now the sole owners of Brisbane’s Queen’s Wharf
The Star Entertainment Group has now completed its deal to offload its 50 per cent share in Queen’s Wharf Brisbane Integrated Resort to its partners in the project Chow Tai Fook Enterprises Limited (CTFE) and Far East Consortium International. Star could be paid just $1.5m a month to manage the casino complex in Brisbane.
Both Far East Consortium and Chow Tai Fook have given US$171m guarantees to the Queensland government that it will complete the development of The Star Brisbane and associated facilities with all phases expected to be completed by 2029.
CTFE Director and co-CEO Christopher Cheng said the deal would bring ‘long-term stability’ for Queen’s Wharf.
“Having been involved in the project from its earliest stages, CTFE and Far East Consortium remain committed to supporting the continued development of this world-class destination.”
Executive director of FEC Wendy Chiu added: “We are grateful for the Queensland government’s ongoing support for the project, and are committed to working with stakeholders to ensure the continued success of Queen’s Wharf Brisbane as a premier tourism, entertainment and lifestyle destination, operating to the highest regulatory standards,” she said.
Far East Consortium said: “By acquiring full ownership of the Developer with CTFE, the group is positioned to fully deliver on the project’s growth potential, particularly in light of Brisbane’s designation as the host city for the 2032 Olympic and Paralympic Games. The Development strengthens the Group’s presence in Australia’s premium integrated resort and hospitality sectors.”
Although Star has sold its assets in Queen’s Wharf, it will continue to operate the casino under a revised management agreement, although it will earn much less than originally anticipated.
As announced in August 2025 announcement, the transaction was structured to complete in two separate stages with new terms for the DBC Casino Operator Fee effect from 1 April 2026. The DBC Casino Operator Fee payable to The Star under the CMA is a fixed annual fee of $18m payable monthly; and a performance-based incentive fee, comprising two components, each based on EBITDAM: and completion of the exit from DBC, being the first stage. The Star has completed Stage 1 by disposing of its interest in DBC to the Joint Venture Partners in accordance with the transaction documents.
The parties have previously agreed that The Star will no longer receive the operator fee under the
DBC Casino Management Agreement (CMA), and would instead receive a fixed monthly fee. In
connection with completion of Stage 1 of the Transaction, the parties have agreed to further vary this
arrangement.
The AU$18m ($12.4m) yearly figure would equate to roughly AU$1.5m ($1m) per month, to manage the casino, drastically down from the previously agreed AU$5m.
The post The Star completes sale of Queen’s Wharf Brisbane and could be paid just $1.5m a month to manage the casino appeared first on G3 Newswire.
The two Hong Kong investors now the sole owners of Brisbane’s Queen’s Wharf The Star Entertainment Group has now completed its deal to offload its 50 per cent share in Queen’s Wharf Brisbane Integrated Resort to its partners in the project Chow Tai Fook Enterprises Limited (CTFE) and Far East Consortium International. Star could be…
The post The Star completes sale of Queen’s Wharf Brisbane and could be paid just $1.5m a month to manage the casino appeared first on G3 Newswire.