Queensland government 'should be ruling out' Star casino buyout by Chow Tai Fook
This transformation was part of a broader project to develop the Queen’s Wharf entertainment complex, which includes hotels, restaurants, residential complexes, and other infrastructure facilities. The casino was originally housed in the historic Treasury Building, which was constructed in the 19th century and served as the financial center of the colony. After its transformation into a casino, this building became one of Brisbane’s most recognizable landmarks, blending the heritage of the past with modern innovations. Star casino Brisbane, located in the heart of Queensland’s capital, Australia, is one of the most renowned entertainment complexes in the region. Originally opened as Treasury casino in 1995, the venue has undergone significant changes and modernization, becoming a central element of the city’s landscape. Today, Star casino Brisbane not only symbolizes luxury and excitement but also plays a crucial role in the cultural and economic life King Billy Casino VIP rewards program of the city. Stay informed with the latest expertly curated and reliable stories from the casino and gambling industry.
Those inquiries found that The Star failed to protect its casinos from being used by criminal syndicates to launder money. The Star’s casinos, which along with Brisbane include The Star Gold Coast and The Star Sydney in New South Wales, were also accused of welcoming and encouraging gamblers banned in other states to gamble. Chow Tai Fook is largely the reason for The Star’s troubles in the first place, as the Hong Kong firm’s ties to Triad groups are what prompted Star suitability concerns across the country. Chow Tai Fook is a conglomerate with close ties to the Chinese government. The privately held company is no stranger to gaming and hospitality, as Chow Tai Fook owns Baha Mar in The Bahamas and the Rosewood Hotel Group. At The Star Brisbane, guests can enjoy a wide range of gaming options with flexible betting limits suitable for beginners and high rollers alike.
You never know where he’s gonna show up, and that’s part of the fun. Mark Normand isn’t a “TV guy” in the classic sense. He doesn’t pop up in sitcoms playing the quirky barista or awkward boyfriend. But he’s made a bunch of TV appearances that made people notice. He’s done the late-night circuit — Fallon, Colbert, Conan — more times than most comics dream of.“It would appear that once you start operating a clean casino it’s not nearly as profitable,” Sheedy says. The United Workers Union’s casinos director, Andrew Jones, says if there are any changes to operations or ownership, the union will focus efforts on maintaining job security for members. New owners would typically cut costs, although there would be a limit to job losses given the casinos would still require adequate staffing to operate. Earlier this year, shareholders gave the green light to a separate $300 million cash boost led by US casino operator Bally’s Corporation and Australian investor Bruce Mathieson.
In April 2025, Bally’s will make its UK debut by opening its first-ever casino at The Gate, one of Newcastle’s premier entertainment hubs, according to their website. Of the 19 casinos in the US, 17 have been revived. Bally’s, which operate’s 19 casinos across the US, will get a 56.7 per cent stake in Star. The embattled casino operator has signed a $300 million rescue package with Bally’s Corporation to save the business from administration. The Queensland LNP government released a sensitive report into Star’s Brisbane casino business partner.“We are excited about our future in the Gold Coast. “The QWB Project is a world-class entertainment and leisure precinct in the heart of Brisbane’s central business district, one of Australia’s fastest growing cities and the host of the 2032 Olympic and Paralympic Games,” Far East said on Friday. 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. The deal will end its exposure to further financial demands at Queens Wharf and raise its exposure to the properties surrounding its Gold Coast resort. “This transaction is an important milestone for the company and contributes to providing a potential pathway towards financial viability,” chief executive Steve McCann said. It also faces a looming financial penalty from the financial crimes regulator Austrac, in addition to a $15m fine issued by the NSW government casino regulator late last year.
The government inquiries in Queensland and New South Wales cost the company hundreds of millions of Australian dollars in fines and remedial costs. The regulatory concerns, paired with fewer guests at its casinos and fewer large-scale transactions being facilitated, have caused investors to run. The Star Brisbane Casino is the premier gaming and entertainment destination in Australia, located in the prestigious Queen’s Wharf precinct. Open 24/7, the casino offers guests a unique combination of world-class gaming, generous bonuses, fine dining, and vibrant events. Bally’s Corporation has agreed to acquire Star Entertainment Group in a landmark AU$300 million deal designed to rescue the Australian casino giant from imminent financial collapse.