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Updated April 1, 2026 — 5:59pm,first published 4:10pm
Gaming giant Star Entertainment has finalised a deal to offload the Queen’s Wharf complex to its Hong Kong consortium partners, in a deal that will enable the embattled company to continue operating the sprawling Brisbane casino.
The company had owned a 50 per cent stake in the multibillion-dollar complex with joint venture partners Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC).
Star, which also owns casinos in Sydney and the Gold Coast, was forced to sell its share in the Brisbane property for $53 million as part of restructuring efforts to ensure its survival as debt spiralled and money-laundering regulatory changes cut off revenue from high-roller Asian investors.
Chow Tai Fook and Far East Consortium will have equal shares in the property, while Star will continue to manage the casino.
But the owners will retain the right to replace the gaming operator with three-months’ notice if the company underperforms.
Star is expected to gain $53 million from the deal, which will also hand ownership of Brisbane’s Treasury Hotel and car park and the Charlotte Street car park to the other consortium members.
Christopher Cheng, director and co-chief executive of Chow Tai Fook, said the deal would give the complex long-term stability.
“Having been involved in the project from its earliest stages, CTFE and Far East Consortium remain committed to supporting the continued development of this world-class destination,” he said.
The sale was approved by Queensland Attorney-General Deb Frecklington despite a long-secret state government inquiry finding Chow Tai Fook concealed its relationship with criminal junket operator Alvin Chau from regulators.
The Queensland government launched an investigation into the Hong Kong-based company in 2023 to probe its links with Chau and his Suncity junket operation.
The report found Chow Tai Fook had misled the state government and provided incorrect information to regulators in 2022 about the company’s links with Chau through a casino in Vietnam.
Chau was arrested in 2021 and sentenced to 18 years in prison for illegal gaming and organised crime.
Frecklington told this masthead that strict regulatory oversight remains in place at the casino operation.
“The commercial agreement between The Star and the joint venture partners has been approved by the Crisafulli government following completion of the necessary regulatory approvals,” the attorney-general said.
“The Star Brisbane and The Star Gold Coast both remain subject to strict regulatory oversight.”
The deal to sell Star’s shares in Queen’s Wharf was first announced in March last year, but the process had stalled as the parties argued over who would operate the complex after the sale.
US-based gaming giant Bally’s took control of Star in 2025 along with the billionaire Australian pub and pokies family the Mathiesons.
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