By the time its new Brisbane casino opened on August 29, 2024, that had plummeted to 57 cents a share,
making it difficult for the company to raise funds and keep its new business operating.
Brisbane’s $3.8 billion Queen’s Wharf precinct throws open its doors to the public
today. Then came two years of pandemic lockdowns, major flooding, and an outbreak of mould — to name but a
few issues — which added hundreds of millions to the price tag and many months to the timeline.
Perched 35 metres above street level, between the resort’s four
towers, The Star Brisbane’s Leisure Deck is an open-air oasis where drinks are enjoyed on the grassed terrace’s
comfy beanbags under the stars. “It’s time all three governments sat down with the company and its Queen’s Wharf joint venture partners and thrashed out one over-arching deal that sorts out the mess and resolves who will own and run the Sydney, Brisbane and Gold Coast casinos over the longer term,” he said.
Star first entered the deal with its the Hong Kong investors in early March,
after months of warnings about its financial future — and prior to the bigger deal struck
with Bally’s and the Mathiesons. Last week, Star shareholders separately approved a $300 million rescue deal backed by US casino giant Bally’s
and existing investor Bruce Mathieson.
“Delays and ongoing costs during construction meant it was sucking cash, not generating it, at a time when Star was already struggling with regulatory fallout and falling revenue.” It was also the weekend Brisbane’s old Treasury Casino closed its doors for good.
The Sky Deck’s viewing platform, along with a
trio of restaurants and bars – Cicada Blu, Aloria and Babblers – will swing their
doors open before the end of the year.
Star told investors on Tuesday morning it had finally
signed an on-again, off-again deal with its controversial Hong
Kong partners, one of which was once linked to organised crime figures.
Besieged gaming giant Star Entertainment has agreed to give up both
running and part-owning the $3.6 billion Queen’s Wharf casino in Brisbane, cutting a deal
to avoid financial calamity. The deal is subject to multiple hurdles including regulatory checks.
Gaming giant Star Entertainment has signed a takeover deal
with its controversial Hong Kong-based partners, allowing it to offload its stake in Brisbane’s Queen’s Wharf development.
Star Entertainment Group signs on-again, off-again takeover deal with Hong Kong partners Star Entertainment
is scrambling to offload its 50 per cent stake in the Queen’s Wharf hotel and casino complex after an initial deal to sell out
imploded at the eleventh hour. The opening weekend coincides
with the Battle of Brisbane Dolphins vs. Broncos home game and Brisbane’s biggest party,
Brisbane Festival with the transformed grassed public areas
along the river including The Landing and Finger Wharves to open after Riverfire celebrations.
While the company has been granted temporary extensions to develop remediation plans, its long-term viability as a
casino operator remains uncertain.Star Brisbane chief executive Daniel Finch said at this morning’s Queen’s Wharf media launch, “We have a heightened focus on all of our anti-money-laundering policies, procedures, our internal control manuals and measures, also our counter-terrorism financing.”And also safer gambling
and harm minimisation — we have an enormous team now, we have
protocols in place and we are well and truly on our way to suitability.”The new casino is open from 2pm today. The review highlighted deficiencies in the company’s anti-money-laundering program, improper encouragement of high-risk gamblers, and a lack of transparency with regulators and financial institutions.In light of these findings, Star’s casino licenses in both states have been under review. Subsequently, the state appointed a special manager to oversee the company’s operations.An independent review commissioned by the NSW Independent Casino Commission revealed similar shortcomings in Star’s Sydney casino operations.
He believed the OLGR faced “a lot of pressure” to ensure the doors of a new casino could open last Thursday. Time is also running out for newly installed chief executive Steve McCann to get a deal across the line. Queensland gambling regulator under fire over last week’s decision to grant new Brisbane casino licence In September and October, additional venues will open, including The Sky Deck restaurants and bars, The Landing riverfront public space, and The Terrace Dining on Level 4. This marks a significant transition as the existing Treasury Casino prepares to close its doors in anticipation of Queen’s Wharf’s launch. The first wave will feature the main casino floor on levels five and six, alongside a selection of bars and restaurants.
Finch said that the decision to close the Treasury Casino and Hotel, which operate out of two adjacent heritage-listed CBD buildings, was “an emotional one” for staff because the company had been the caretaker of the sites since 1995. The company’s Queensland licence only allows for one Brisbane casino and moving its operations to Queen’s Wharf is a complex and costly operation. Almost 30 years after a heritage-listed government office building reopened as a 24-hour entertainment venue, Brisbane’s Treasury Casino will close its doors at the stroke of midnight on Sunday. The company faces further penalties, including fines from the money laundering regulator AUSTRAC which is expected to exceed $300 million. The Brisbane deal with its joint-venture partners also gives Star more real estate exposure to its Gold Coast casino which McCann – the former CEO of property giant Lend Lease – is planning to exploit and help offset the risks in its gambling business. The deal to sell its new Brisbane casino will mean its two partners pay a total of $53 million for Star’s share of the venue and it will also receive $5 million a month to run the casino, rising to $6 million a month as of next year.
Ten months before Chow Tai Fook moved to cut ties with Alvin Chau, a NSW casino inquiry declared he was “clearly” linked with organised crime groups. Mr Ao Ieong is now a director of the CTFE-backed China Diamond and Jewellery Exchange, and sits on the company board alongside ‘Conroy’ Cheng, CTFE’s executive director and vice chairman. In 2013, after the gangster got out of jail, Mr Ao Ieong transferred company shares to him. This included an interest in a Macau company with a longtime friend and business partner of US-sanctioned crime boss “Broken Tooth” Wan Kuok Koi.
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Queen's Wharf development · May 17, 2026 at 5:34 pm
By the time its new Brisbane casino opened on August 29, 2024, that had plummeted to 57 cents a share,
making it difficult for the company to raise funds and keep its new business operating.
Brisbane’s $3.8 billion Queen’s Wharf precinct throws open its doors to the public
today. Then came two years of pandemic lockdowns, major flooding, and an outbreak of mould — to name but a
few issues — which added hundreds of millions to the price tag and many months to the timeline.
Perched 35 metres above street level, between the resort’s four
towers, The Star Brisbane’s Leisure Deck is an open-air oasis where drinks are enjoyed on the grassed terrace’s
comfy beanbags under the stars. “It’s time all three governments sat down with the company and its Queen’s Wharf joint venture partners and thrashed out one over-arching deal that sorts out the mess and resolves who will own and run the Sydney, Brisbane and Gold Coast casinos over the longer term,” he said.
Star first entered the deal with its the Hong Kong investors in early March,
after months of warnings about its financial future — and prior to the bigger deal struck
with Bally’s and the Mathiesons. Last week, Star shareholders separately approved a $300 million rescue deal backed by US casino giant Bally’s
and existing investor Bruce Mathieson.
“Delays and ongoing costs during construction meant it was sucking cash, not generating it, at a time when Star was already struggling with regulatory fallout and falling revenue.” It was also the weekend Brisbane’s old Treasury Casino closed its doors for good.
The Sky Deck’s viewing platform, along with a
trio of restaurants and bars – Cicada Blu, Aloria and Babblers – will swing their
doors open before the end of the year.
Star told investors on Tuesday morning it had finally
signed an on-again, off-again deal with its controversial Hong
Kong partners, one of which was once linked to organised crime figures.
Besieged gaming giant Star Entertainment has agreed to give up both
running and part-owning the $3.6 billion Queen’s Wharf casino in Brisbane, cutting a deal
to avoid financial calamity. The deal is subject to multiple hurdles including regulatory checks.
Gaming giant Star Entertainment has signed a takeover deal
with its controversial Hong Kong-based partners, allowing it to offload its stake in Brisbane’s
Queen’s Wharf development.
Star Entertainment Group signs on-again, off-again takeover deal with Hong Kong partners Star Entertainment
is scrambling to offload its 50 per cent stake in the Queen’s Wharf hotel and casino complex after an initial deal to sell out
imploded at the eleventh hour. The opening weekend coincides
with the Battle of Brisbane Dolphins vs. Broncos home game and Brisbane’s biggest party,
Brisbane Festival with the transformed grassed public areas
along the river including The Landing and Finger Wharves to open after Riverfire celebrations.
While the company has been granted temporary extensions to develop remediation plans, its long-term viability as a
casino operator remains uncertain.Star Brisbane chief executive Daniel Finch said at this morning’s Queen’s Wharf media launch, “We have a heightened focus on all of our anti-money-laundering policies, procedures, our internal control manuals and measures, also our counter-terrorism financing.”And also safer gambling
and harm minimisation — we have an enormous team now, we have
protocols in place and we are well and truly on our way to suitability.”The new casino is open from 2pm today. The review highlighted deficiencies in the company’s anti-money-laundering program, improper encouragement of high-risk gamblers, and a lack of transparency with regulators and financial institutions.In light of these findings, Star’s casino licenses in both states have been under review. Subsequently, the state appointed a special manager to oversee the company’s operations.An independent review commissioned by the NSW Independent Casino Commission revealed similar shortcomings in Star’s Sydney casino operations.
He believed the OLGR faced “a lot of pressure” to ensure the doors of a new casino could open last Thursday. Time is also running out for newly installed chief executive Steve McCann to get a deal across the line. Queensland gambling regulator under fire over last week’s decision to grant new Brisbane casino licence In September and October, additional venues will open, including The Sky Deck restaurants and bars, The Landing riverfront public space, and The Terrace Dining on Level 4. This marks a significant transition as the existing Treasury Casino prepares to close its doors in anticipation of Queen’s Wharf’s launch. The first wave will feature the main casino floor on levels five and six, alongside a selection of bars and restaurants.
Finch said that the decision to close the Treasury Casino and Hotel, which operate out of two adjacent heritage-listed CBD buildings, was “an emotional one” for staff because the company had been the caretaker of the sites since 1995. The company’s Queensland licence only allows for one Brisbane casino and moving its operations to Queen’s Wharf is a complex and costly operation. Almost 30 years after a heritage-listed government office building reopened as a 24-hour entertainment venue, Brisbane’s Treasury Casino will close its doors at the stroke of midnight on Sunday. The company faces further penalties, including fines from the money laundering regulator AUSTRAC which is expected to exceed $300 million. The Brisbane deal with its joint-venture partners also gives Star more real estate exposure to its Gold Coast casino which McCann – the former CEO of property giant Lend Lease – is planning to exploit and help offset the risks in its gambling business. The deal to sell its new Brisbane casino will mean its two partners pay a total of $53 million for Star’s share of the venue and it will also receive $5 million a month to run the casino, rising to $6 million a month as of next year.
Ten months before Chow Tai Fook moved to cut ties with Alvin Chau, a NSW casino inquiry declared he was “clearly” linked with organised crime groups. Mr Ao Ieong is now a director of the CTFE-backed China Diamond and Jewellery Exchange, and sits on the company board alongside ‘Conroy’ Cheng, CTFE’s executive director and vice chairman. In 2013, after the gangster got out of jail, Mr Ao Ieong transferred company shares to him. This included an interest in a Macau company with a longtime friend and business partner of US-sanctioned crime boss “Broken Tooth” Wan Kuok Koi.
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australia's newest online casino · May 18, 2026 at 12:49 pm
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References:
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fair go casino neosurf deposits · May 18, 2026 at 7:07 pm
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