The Star Entertainment Group has officially exited its partnership in the Queen’s Wharf Brisbane casino resort, selling its 50% stake to reduce massive debt and simplify its struggling business.
The move ends The Star’s involvement in one of Australia’s largest casino developments, with full ownership now transferred to its former partners — Chow Tai Fook Enterprises and Far East Consortium.
New Deal Details Instead of receiving performance-based operator fees, The Star will now get:
- A fixed annual payment of A$18 million (paid monthly)
- A smaller performance-based incentive linked to EBITDA
While this provides stable income, it is significantly lower than the A$60 million per year the company was originally hoping for.
Why The Star Is Exiting The main goal of the deal is to reduce The Star’s heavy debt burden. The company has been under immense financial and regulatory pressure for the past few years.
The Star has faced serious compliance failures, including weak anti-money laundering (AML) controls, which led to it being declared “unsuitable” to hold casino licences in both New South Wales and Queensland.
What This Means for Australian Players
The Star’s exit from Queen’s Wharf Brisbane is another sign of the tough times major real money casino operators are facing in Australia. With regulators tightening controls and enforcement actions increasing, only the strongest and most compliant operators are likely to thrive.
For players, this reinforces an important point: when choosing where to play, licensed and financially stable platforms remain the safest option.
