Ada Taubman @ adaq6308385103 Member Since: 11 Jan 2026

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The Star Brisbane First-look Reveals Luxury Hotel, Sports Bar & Ballroom

"We've obviously been working with them over a period of time on a range of issues, including the importance of the employment that's there, and we'll continue to do so." "Debts that are owed must be paid and we are happy to talk about into the future, about opportunities for whoever might run that business, about opportunities to grow and thrive in Queensland," he said. With the future of the casino having been in limbo for months, Mr Jones said it was taking its toll on Star's employees.
"At the core of the issue is the transfer of a major casino licence to a new ownership structure," he said. Mr Hughes said the deal's success — and a lifeline for Star — hinges on getting the "green light" from regulators. Griffith University Business School's Graeme Hughes said the deal would come as a relief to Star Entertainment if approved. The deal still needs to pass regulatory hurdles before it's finalised. A Queensland government spokesperson said the deal between Star and its joint venture partners — Chow Tai Fook Enterprises (CTFE) and Far East Consortium — was not yet finalised. This week, that was walked back, with Star announcing a new deal had finally been signed.
The Star Casino stands as one of Australia’s most iconic gaming and entertainment destinations, operating premier venues in Sydney, Gold Coast, and Brisbane. As part of the Demerger, Tabcorp sought a ruling from the Australian Taxation Office on the taxation implications for shareholders. Eligible shareholders who wished to sell their shares under the Voluntary Share Sale Facility were required to return a Sale Instruction Form by the Closing Date. Based on a share price of $5.68, being the closing price of The Star Entertainment Group (SGR) shares on the Australian Securities Exchange on the Record Date, an Unmarketable Parcel was any holding of 88 shares or less. Payment of the sale proceeds were made to participating shareholders on 27 May 2016 in accordance with their payment instructions as recorded on the share register.
Putting its share on hold last week, Star repeated a warning made early in February that without a rescue deal to pull in cash it may not be able to continue as a viable business. Cash-strapped Star Entertainment is set to offload its Brisbane casino in an 11th-hour deal that could rescue it from financial collapse. The ASX-listed casino giant had already outlined plans to offload its stake in the precinct in March, but negotiations broke down early this month over a failure to agree on key components of the deal.
The Australian Financial Review said the two Hong Kong-based companies, which are joint investors in Brisbane’s Queen’s Wharf precinct, are set to take control of Star’s casino there. Star’s shares have been suspended from trade on the Australian Securities Exchange after it failed to lodge its half-year results last Friday. In March, Star, which operates casinos in Brisbane, the Gold Coast and Sydney, had reached an agreement with the owners of the other half of Brisbane's Queen's Wharf casino and hotel development to take over its 50 per cent stake.
Earlier this week, Star published its quarterly report, which precedes audited financial accounts due next month. Star’s lawyers told the Federal Court last month that a fine of more than $100 million could trigger the group’s financial collapse. The casino operator said it may face equity contributions above this level if required as part of refinancing commitments when the current loan expires on December 31, 2025. Star will have to repay more than $36 million to its consortium partners between now and September, but the bigger issue is how it will shoulder its share of future equity contributions and candy96.fun the consortium’s debt. Star offered a glimmer of hope when it indicated that negotiations were continuing even though its joint venture partners had declined to extend the deal deadline to next week. "I'm pretty sure there's plenty of deals around that can be done to stop it from doing that," he said.
He blamed a "misunderstanding" with Chow Tai Fook management for having a stake in the casino with Chau in the first place. Neither man ever visited Vietnam to check out their casino investment. Months later, the ABC obtained a confidential investor document showing Chow Tai Fook remained a partner with Suncity in the Vietnam casino via a subsidiary. It distanced itself from the Hoiana casino the next year, but maintained a hidden involvement it repeatedly and falsely denied. Chow Tai Fook owned a stake with Chau in a casino venture in Vietnam. With no ongoing link to Chau, however, its key personnel for the Brisbane casino were deemed suitable in 2015.
The casino operator also remains embroiled in legal challenges, with the financial crimes regulator AUSTRAC seeking a $400 million penalty against the company for alleged money laundering, in a court case that kicked off earlier this month. He said the deal being in doubt meant the casino operator, again, could faced the prospect of bankruptcy. The deal falling over would leave Star saddled with those costs, as it attempts to turn its business around with the backing of Bally's. 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. The group's joint venture partners have threatened to walk away from the agreement struck to sell its stake in the Queen's Wharf casino and hotel complex.