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In a dramatic reversal of fortunes, The Star Entertainment Group has finally secured a binding agreement to sell its 50% stake in the Queen’s Wharf Brisbane integrated resort to long-standing joint venture partners, Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC). The deal revives negotiations that had collapsed at the start of August, forcing Star into a precarious financial position—one that included looming repayment obligations of up to A$41 million to its partners.

Under the terms of the revived agreement, Star will receive a total of A$53 million, with A$45 million already paid in March, and the remaining A$8 million due by November 30, 2025. This injection of funds is critical, not only for alleviating immediate liquidity pressures but also for lifting the burden of Queen’s Wharf–related debts that had ballooned to approximately A$1.4 billion. 

In return, Star will consolidate its position in Queensland’s tourism landscape. The deal involves acquiring two-thirds ownership of the under-construction Dorsett and Andaz hotels on the Gold Coast, along with retaining development rights in the broader precinct. 

Entrenched regulatory scrutiny and past missteps have complicated Star’s operations—so much so that speculation has risen over who will eventually operate the Brisbane resort. While a replacement operator has not yet been finalized, Crown Resorts, SkyCity, and Delaware North are among the contenders previously reported. 

Notably, the announcement triggered a sharp rebound in Star’s share price—surging between 29% to 35%—reflecting newfound investor optimism in its financial standing. 

With regulatory approvals and lender sign-offs still required, the deal’s closing is projected in two phases: first, the divestment of Queen’s Wharf in Brisbane by November 30, 2025, and subsequently the transfer and consolidation of Gold Coast assets in 2026.